SharkNinja Inc (NYSE: SN) shares are soaring 12.85% in pre-market trading on Thursday following the company's impressive third-quarter results, raised full-year guidance, and the announcement of a new Chief Financial Officer.
The home appliance innovator reported robust Q3 performance, with net sales reaching $1.63 billion, a 14.3% year-over-year increase and slightly above analyst expectations of $1.628 billion. The company's adjusted earnings per share (EPS) came in at $1.50, significantly beating the consensus estimate of $1.35 and marking a 23.97% increase from the same period last year.
Buoyed by the strong results, SharkNinja raised its fiscal year 2025 outlook. The company now expects net sales growth in the range of 15.0% to 15.5%, up from its previous forecast of 13% to 15%. Additionally, SharkNinja revised its adjusted EPS guidance to $5.05-$5.15, compared to the earlier projection of $5.00-$5.10. This upward revision signals management's confidence in the company's growth trajectory and ability to capitalize on market opportunities.
The positive momentum was further bolstered by the announcement of Adam Quigley as the new Chief Financial Officer, a move that could bring fresh perspectives to the company's financial strategies. SharkNinja's success appears to be driven by broad-based growth across all product categories, with notable achievements in Beauty and Home Environment segments, as well as significant international expansion, with international net sales increasing by 25.8%.
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