SharkNinja Raises 2026 Outlook After Q3 Sales Rise 21%

SharkNinja Inc. (NYSE: SN) raised its fiscal 2026 outlook after third-quarter sales increased 21.2% and adjusted earnings grew more than 50%, supported by a substantial expansion in profitability. The consumer-products company now expects full-year net sales to rise 18% to 19%, compared with its previous forecast of 16% to 17% growth.

For the three months ended September 30, 2026, net sales reached $1.98 billion, up from $1.63 billion a year earlier. Adjusted gross profit increased 34.8% to $1.11 billion, while adjusted gross margin widened to 55.9% from 50.3%.

Adjusted operating income rose 47.2% to $425 million. Adjusted EBITDA increased 45.7% to $461 million, lifting the adjusted EBITDA margin to 23.3% from 19.4%. Adjusted net income climbed 55.1% to $331 million, and adjusted net income per share advanced 56% to $2.34.

On a GAAP basis, gross profit was $1.17 billion, representing a gross margin of 59.2%, compared with $817 million and 50.1% a year earlier. Operating income increased to $443 million from $263 million, while net income rose to $338 million from $189 million. Diluted GAAP earnings per share were $2.39, up from $1.33.

The gap between GAAP and adjusted results partly reflected tariff-related items. SharkNinja recorded $110 million of refund claims for IEEPA duties expensed in 2025, partly offset by $45 million payable to factory partners and $5 million of related interest income. The company excluded the prior-year net benefit from its adjusted measures because it did not consider the benefit indicative of ongoing operating performance. Refunds attributable to duties expensed in 2026 remain included in adjusted results.

Full-year outlook moves higher

SharkNinja now expects fiscal 2026 adjusted net income per share of $6.65 to $6.75, representing growth of 25.9% to 27.8%. Its prior range was $6.45 to $6.55, or growth of 22.2% to 24.1%.

Adjusted EBITDA is projected at $1.38 billion to $1.39 billion, up 21.5% to 22.5%. The earlier outlook called for $1.36 billion to $1.37 billion and growth of 19.5% to 20.5%.

The company maintained its expected GAAP effective tax rate of approximately 22% to 23%. It now anticipates about 142 million diluted weighted-average shares outstanding, compared with approximately 142.5 million previously. The capital expenditure range remains $190 million to $210 million, although SharkNinja said spending is now tracking toward the midpoint rather than the high end.

The outlook includes the effects of refund claims for IEEPA duties expensed in 2026, consistent with the accounting treatment of the original expenses. It also incorporates the company’s current intention to reinvest in the business to support long-term growth. SharkNinja did not provide GAAP reconciliations for its forward-looking adjusted net income, adjusted EPS or adjusted EBITDA forecasts, citing the difficulty of estimating the required adjustments with reasonable certainty.

Innovation and international expansion remain central

Management’s growth strategy continues to focus on gaining share in existing categories, entering adjacent and new categories, and expanding internationally. Over the 2023-2025 period, existing categories and international operations each accounted for approximately 40% of average net sales growth, while new and adjacent categories contributed about 20%.

Recent product initiatives include the Ninja Luxe Café in premium espresso, Shark FacialPro Glow in at-home skincare, the Shark TurboBlade fan and the Ninja Crispi Pro countertop air-frying platform. SharkNinja has also expanded its outdoor portfolio through products such as the Ninja FlexFlame propane grill and Ninja Fireside360. The presentation described these launches as part of the company’s broader effort to extend its brands into additional household uses and higher-value product areas, but it did not quantify their contribution to third-quarter sales.

International expansion also remains a strategic priority. SharkNinja reported that its products are distributed across 38 markets. International net sales totaled $2.1 billion in 2025 and recorded a 31% compound annual growth rate between 2020 and 2025.

Management identified product innovation, broader retail distribution and geographic expansion as top-line priorities. Its margin focus centers on product costs and average selling prices, supported by inventory management and a diversified supplier network across Southeast Asia. Third-party suppliers manufacture and assemble all of the company’s products.

Balance sheet and risks

SharkNinja ended the quarter with $488 million of cash and cash equivalents and $709 million of debt, resulting in net debt of $221 million. Last-12-month adjusted EBITDA was $1.36 billion, and net leverage stood at 0.16 times.

The company cautioned that its outlook is based on current assumptions and remains subject to uncertainty in a competitive and rapidly changing operating environment. Potential variables include changes affecting its supply chain and tariffs, the execution of new product launches and international expansion, and the inherent uncertainty associated with market and industry estimates. Actual performance could differ materially from the forward-looking figures in the presentation.