Product design company SharkNinja meets Q3 sales expectations, ups forecast

Overview

• SharkNinja Q3 net sales grow 14.3% yr/yr, meeting analyst expectations

• Adjusted EBITDA for Q3 rises 20.7%, reflecting strong operational performance

• Company raises fiscal 2025 outlook, expecting higher net sales and adjusted net income

Outlook

• SharkNinja raises FY 2025 net sales growth forecast to 15.0%-15.5%

• Company expects FY 2025 adjusted EPS between $5.05 and $5.15

• SharkNinja anticipates FY 2025 adjusted EBITDA of $1,115 mln to $1,125 mln

Result Drivers

• PRODUCT CATEGORY GROWTH - Broad-based growth across all product categories, with notable success in Beauty and Home Environment due to new products like CryoGlow face masks

• INTERNATIONAL EXPANSION - International net sales increased 25.8%, contributing significantly to overall sales growth

• COST OPTIMIZATION - Improved gross margin by 140 basis points due to cost optimization efforts and reduced sourcing service fees

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the appliances, tools & housewares peer group is "buy"

• Wall Street's median 12-month price target for Sharkninja Inc is $129.49, about 33.3% above its November 5 closing price of $86.39

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 21 three months ago

Press Release: ID:nBw7MzzFGa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)