By Denny Jacob
SharkNinja posted a surge in its top- and bottom-lines in the fourth quarter, the latest period to show its various home gadgets continue to appeal to consumers looking for products that are innovative and have a premium feel.
The company known for its blenders, vacuums and other home gadgets logged net income of $128.7 million, or 91 cents a share, surging from $49.3 million, or 35 cents a share, a year earlier.
Stripping out certain one-time items, earnings came in at $1.40 a share. Analysts polled by FactSet expected $1.27 a share.
Sales surged 30% to $1.79 billion from $1.38 billion. Analysts polled by FactSet expected $1.63 billion.
SharkNinja said sales benefited from growth across all four product categories. In particular, food preparation appliances grew 89% to $342 million on sales of its ice cream makers and frozen drink appliances.
Shares surged 4.8% to $115.99 in premarket trading. The stock has more than doubled over the last year.
Research and development expenses rose to $86.8 million, or 4.9% of net sales, compared to $69 million, or 5% of net sales, in the prior year period.
The increase, primarily due to increased headcount to support new product categories and market expansion as well as increase in depreciation and amortization expense, fits into the company's strategy of increasing R&D spend as it looks to expand into new markets and further disrupt ones it already has a foothold in.
Chief Executive Mark Barrocas said the quarterly results helped the company deliver its strongest year to date.
For fiscal 2025, SharkNinja expects sales to increase 10% to 12% from a year earlier. Adjusted earnings per-share, meanwhile, are expected to be in the range of $4.80 and $4.90. The company noted its guidance includes the effect of a 10% additional tariff on imports from China announced earlier this month.
Analysts polled by FactSet expect $6.04 billion in sales, which would equate to a 9.3% increase from fiscal 2024, and $4.86 a share in adjusted earnings in fiscal 2025.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 13, 2025 08:11 ET (13:11 GMT)
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