SharkNinja, Inc. (NYSE: SN) shares jumped 6% after the home appliance maker reported second quarter earnings that beat analyst expectations and raised its full-year outlook.
The company posted adjusted earnings per share of $0.71, surpassing the consensus estimate of $0.56. Revenue soared 37.9% YoY to $1.25 billion, well above analysts' projections of $977.87 million.
SharkNinja saw broad-based growth across its product categories. Cleaning Appliances sales rose 20.3% to $466.1 million, while Food Preparation Appliances revenue surged 90.6% to $264.9 million. The company's Other category, which includes beauty and home environment products, saw sales skyrocket 251% to $138.4 million.
"SharkNinja fueled excellent organic and profitable growth in the second quarter," said CEO Mark Barrocas. "Our diversified portfolio of products and strong revenue mix drove broad-based, double-digit growth across each of our key product categories."
Looking ahead, SharkNinja raised its fiscal 2024 guidance significantly. The company now expects adjusted EPS of $4.05-$4.21, up from its previous outlook of $3.66-$3.82 and above the $3.87 consensus. It also boosted its net sales growth forecast to 20-22%, compared to 10-12% previously.
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