SharkNinja Raises Outlook as Sales Growth Accelerates
Adjusted earnings rose 29.9% to $1.26 a share in the second quarter.
SharkNinja (SN), the home-appliance maker, reported a 22.2% increase in second-quarter net sales to $1.77 billion, driven by faster growth across its domestic and international markets.
Sales growth accelerated from 15.6% in the first quarter and 17.6% in the fourth quarter of 2024. International sales rose 36.6%, up from 31.6% growth in the prior quarter, while domestic growth quickened to 15.5% from 8.4%.
GAAP net income fell 7.0% to $129.8 million and diluted earnings declined 6.1% to $0.92 a share. On an adjusted basis, net income increased 29.3% to $178.2 million.
Cooking and Beverage Appliances led the expansion, with sales rising 36.5% to $499.0 million as demand for Ninja Luxe Café and Ninja Crispi accelerated the segment from 19.8% growth in the first quarter. Beauty and Home Environment Appliances grew 65.3% to $285.8 million, supported by skincare products and fans.
Food Preparation Appliances returned to growth, rising 13.3% to $458.6 million after declining 3.3% in the prior quarter. Cleaning Appliances growth slowed to 4.1% from 17.0%, with carpet extractors and cordless vacuums supporting sales of $522.0 million.
The faster top-line growth came with narrower profitability. Gross margin fell to 48.7% from 49.0% as U.S. tariffs, unfavorable currency movements and increased retailer activations outweighed cost savings and favorable product mix. Adjusted EBITDA rose 18.6% to $264.9 million, while its margin narrowed to 15.0% from 15.5% a year earlier and 16.7% in the first quarter.
General and administrative expense increased 40.8%, largely because share-based compensation rose by $22.6 million. GAAP operating income grew 6.4% to $179.4 million, leaving operating margin at 10.1%, down from 11.6%.
SharkNinja now expects 2025 sales growth of 16.0% to 17.0%, up from its previous range of 11.5% to 12.5%, and adjusted earnings of $6.45 to $6.55 a share. The outlook includes an expected benefit from tariff refunds after U.S. Customs accepted about $247.1 million of claims, which the company expects to recognize as a third-quarter cost-of-sales benefit. SharkNinja also repurchased $99.7 million of shares during the quarter under its $750 million authorization.