SharkNinja Raises 2026 Sales and Profit Outlook
Third-quarter net sales reached $1,976.4 million as the company lifted full-year sales growth to 18.0%–19.0% and Adjusted EBITDA to $1,380 million–$1,391 million.
SharkNinja, Inc. (SN), a global product design and technology company, reported third-quarter net sales of $1,976.4 million, up 21.2% from a year earlier, and raised its fiscal 2026 outlook across sales, adjusted earnings, and Adjusted EBITDA.
The company said the lift reflected continued operating strength together with recognition of benefits from tariff refund claims. It now expects full-year net sales to increase 18.0% to 19.0% from the prior year, above the prior 16.0% to 17.0% range. Adjusted Net Income per diluted share is expected between $6.65 and $6.75, versus a prior $6.45 to $6.55. Adjusted EBITDA is expected between $1,380 million and $1,391 million, versus a prior $1,357 million to $1,369 million. The company also expects a GAAP effective tax rate of approximately 22.0% to 23.0% and capital expenditures of $190 million to $210 million, tracking toward the midpoint.
Net sales growth of 21.2% followed 22.2% in the second quarter and 15.6% in the first. Chief Executive Officer Mark Barrocas called the third-quarter pace the second consecutive quarter above 20% and the 14th consecutive quarter of double-digit growth.
Gross margin expanded to 59.2% of net sales, a 910-basis-point increase from 50.1% a year earlier, reversing a 30-basis-point contraction in the second quarter. Adjusted Gross Margin rose 560 basis points to 55.9% from 50.3%. Gross profit increased 43.1% to $1,170.0 million; Adjusted Gross Profit increased 34.8% to $1,105.7 million.
The company said the margin gains were driven primarily by recognition of benefits related to refund claims for duties previously paid under the International Emergency Economic Powers Act, net of amounts payable to factory partners, as well as cost optimization and favorable shifts in categories and channels, partially offset by unfavorable foreign currency and increased retailer activations. Gross margin benefited from $243.8 million of IEEPA refund claims less $45.2 million payable to partners. Adjusted Gross Margin benefited from $134.3 million of IEEPA refunds expensed in 2026.
In the third quarter SharkNinja recognized $109.6 million of IEEPA refunds for duties expensed in fiscal 2025, compared with an original expectation of about $123.6 million, out of a total accepted claim of approximately $247.1 million. Those refunds benefited GAAP results and cash flow but were excluded from Adjusted Gross Profit, Adjusted Operating Income, Adjusted Net Income, Adjusted EBITDA, and Adjusted Net Income per diluted share. The company now expects total 2025-duties refunds of approximately $145.4 million, including about $35.8 million expected in the fourth quarter. Subsequent to September 30 it submitted additional refund claims of about $35.8 million through Phase 3 of the CBP process. Updated outlook assumes minimum tariffs of 10% for Indonesia, Malaysia, and Cambodia and 12.5% for China, Vietnam, and Thailand for the remainder of 2026.
Cooking and Beverage Appliances net sales increased 36.6% to $597.7 million, matching the second quarter’s 36.5% pace, on Ninja Luxe Café espresso and Ninja Crispi. Food Preparation Appliances net sales increased 18.3% to $485.5 million, accelerating from 13.3% growth in the second quarter, on blending. Beauty and Home Environment Appliances net sales increased 45.8% to $276.1 million, slowing from 65.3% growth in the second quarter, on skincare, air purifiers, and fans. Cleaning Appliances net sales increased 4.1% to $617.2 million, matching the second-quarter rate, on corded and cordless vacuums.
Domestic net sales increased 19.4% to $1,313.7 million, accelerating from 15.5% growth in the second quarter. International net sales increased 25.2% to $662.7 million, slowing from 36.6% growth in the second quarter.
Net income increased 79.3% to $338.4 million, or $2.39 a share, reversing a 7.0% net-income decline in the second quarter. Adjusted Net Income increased 55.1% to $330.9 million, or $2.34 a share. Operating income increased 68.5% to $442.9 million, or 22.4% of net sales. Adjusted Operating Income increased 47.2% to $425.5 million, or 21.5% of net sales. Adjusted EBITDA increased 45.7% to $461.3 million, or 23.3% of net sales, accelerating from 18.6% growth in the second quarter, when Adjusted EBITDA margin was 15.0%.
Sales and marketing expenses increased 25.9% to $460.7 million, or 23.3% of net sales. Research and development expenses increased 27.0% to $117.9 million, or 6.0% of net sales. General and administrative expenses increased 55.0% to $148.5 million, or 7.5% of net sales.
As of September 30, 2026, inventories were $1,428.2 million, up 42.5% from $1,002.2 million at December 31, 2025. Cash and cash equivalents were $487.8 million, with $495.3 million of available revolving-credit capacity and $708.8 million of total debt excluding unamortized deferred financing costs. During the three months ended September 30 the company repurchased 293,132 ordinary shares for $50.0 million under a $750.0 million program authorized February 11, 2026.
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