SharkNinja, a maker of innovative kitchen and household appliances, on Thursday beat Wall Street's targets for the second quarter and raised its guidance slightly above views for the full year. SharkNinja stock rose on the news.
The Needham, Mass.-based company earned an adjusted 97 cents a share on net sales of $1.44 billion in the June quarter. Analysts polled by FactSet had expected earnings of 77 cents a share on sales of $1.38 billion. On a year-over-year basis, SharkNinja earnings rose 37% while net sales increased 16%.
For the full year, SharkNinja now expects sales to rise 13% to 15%, vs. its prior forecast for 11% to 13%. The midpoint of its guidance would translate to 2025 sales of $6.3 billion. Analysts were modeling $6.29 billion.
Further, it now expects adjusted earnings of $5.05 a share in 2025, based on the midpoint of its outlook. It previously guided to $4.95. Wall Street was looking for $5.04.
"Our three-pillar growth strategy continues to drive strong momentum as we expand into new categories with viral successes like the Ninja Slushi, meaningfully gain share across our existing categories, and accelerate our international growth," Chief Executive Mark Barrocas said in a news release.
SharkNinja's portfolio of products includes vacuum cleaners, air purifiers, hair dryers and stylers, coffee makers, blenders, air fryers and more.
SharkNinja Stock Rises After Report
On the stock market today, its shares jumped as much as 12.6% to 128.51, a record high, before pulling back. It ended the regular session Thursday up 0.9% to 115.20.
SharkNinja stock was working on a 121.82 buy point from a cup-with-handle base that was more than 50% deep.
SharkNinja Sales Breakdown
Of SharkNinja's four major product categories, food preparation appliances delivered the strongest growth. Net sales in the category rose 52.8% year over year to $404.8 million in the second quarter. Frozen drink and ice cream makers were top sellers in the group.
Beauty and home environment appliances saw sales increase 25% to $172.9 million in Q2. Growth was driven by the company's FlexBreeze fans and air purifiers as well as CryoGlow face masks.
Cleaning appliances net sales grew 7.6% to $501.5 million in the second quarter. Carpet extraction appliances and robotic cleaners were the main drivers.
Meanwhile, cooking and beverage appliances sales decreased by 3.6% to $365.7 million in the period. A decline in the air fryer and outdoor grill sub-categories was partially offset by sales momentum of the Ninja Luxe Café espresso machine.
Reinventing The Electric Fan
"In an uncertain macro environment, we really delivered," Barrocas told Investor's Business Daily. "Our revenue grew nearly 16% even as the overall market declines. And gross margins expanded in spite of tariffs."
SharkNinja's electric fan business did very well in the quarter and shows the company's approach to innovation, he said.
"We've completely reinvented the fan category," Barrocas said. "Here's a category that's been around for 100 years."
The Shark TurboBlade and the Shark FlexBreeze Pro have been viral hits on social media, he said.
SharkNinja stock ranks first out of 13 stocks in IBD's household appliances and wares industry group, according to IBD Stock Checkup. It has an IBD Composite Rating of 89 out of 99.
Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
