SharkNinja (NYSE:SN) raised its full-year 2026 outlook after third-quarter sales rose 21.2%, with growth across its domestic and international businesses and strong demand for cooking, beverage and beauty products.
Net sales reached $1.98 billion, marking the company’s 14th consecutive quarter of double-digit growth. Adjusted net income rose to $331 million, or $2.34 per diluted share, from $213 million, or $1.50 per share, a year earlier. Adjusted EBITDA increased approximately 46%, with the margin reaching 23.3% of sales.
CEO Mark Barrocas said the company’s existing product portfolio was the largest contributor to sales growth. “Our base business contributed the largest impact of net sales performance,” he said, citing innovation in established categories as a foundation for growth.
Sales Growth Spans Regions and Categories
Domestic sales, which include the U.S. and Canada, climbed 19.4% to $1.31 billion. U.S. sales rose 20.8% to $1.22 billion, the company’s highest U.S. growth rate since the fourth quarter of 2024, CFO Adam Quigley said.
International sales increased 25.2% to $663 million. Quigley highlighted strength in Spain and Italy, where SharkNinja recently moved from distributor-led operations to a direct model, as well as continued growth in Mexico and the rest of Latin America. U.K. sales rose 13.3% to $268 million.
By category, cooking and beverage sales increased 36.6% to $598 million, while beauty and home environment sales rose 45.8% to $276 million. Food preparation sales grew 18.3% to $486 million, and cleaning sales increased 4.1% to $617 million.
Barrocas said the company plans to enter two additional product subcategories in 2027, building on the 41 in which it currently competes. He also pointed to the August launch of the Ninja HydraSense water filtration product and said early subscription attachment rates for replacement filters on SharkNinja’s direct-to-consumer site exceeded internal expectations.
Tariff Refund Lifts Margins
Adjusted gross margin expanded 560 basis points to 55.9% in the third quarter, primarily because of accepted refund claims for previously paid duties under the International Emergency Economic Powers Act. GAAP gross margin rose approximately 910 basis points to 59.2%.
Quigley said roughly $110 million of gross refund claims related to duties expensed in fiscal 2025 were excluded from adjusted results. Approximately $134 million related to fiscal 2026 duties remained in adjusted results.
The company recorded approximately $45 million due to factory partners in recognition of their support during 2025 tariff-related headwinds. It also reinvested some of the refund benefit in areas including retail activation, media, technology, artificial intelligence and research and development.
Excluding the refund, third-quarter gross margin would have declined about 100 basis points, Quigley said. He attributed that partly to the company’s decision to delay price increases once it had visibility into the refund, while continuing to absorb commodity, fuel and foreign-exchange headwinds.
Higher Outlook Includes Fourth-Quarter Reinvestment
SharkNinja now expects full-year sales growth of 18% to 19%, up from its prior forecast of 16% to 17%. It raised its adjusted earnings forecast to $6.65 to $6.75 per diluted share, from $6.45 to $6.55, and projected adjusted EBITDA of $1.38 billion to $1.391 billion, compared with its previous range of $1.36 billion to $1.37 billion.
At the high end of the updated outlook, the company expects fourth-quarter sales growth of approximately 17% and adjusted EBITDA growth of roughly 9%. Quigley said some planned reinvestment shifted from the third quarter into the fourth, when adjusted gross margin is expected to decline about 100 basis points year over year.
Those investments are intended to benefit 2027 and beyond, Quigley said. The company’s objective for next year remains to grow adjusted EBITDA dollars faster than net sales.
Digital Channels Support Expansion
Barrocas said SharkNinja expects to be live on TikTok Shop in 14 countries ahead of the holiday season, while also expanding social commerce efforts on other platforms. He said the company’s analysis indicates that every dollar of on-platform social commerce sales generates an estimated $2 of sales elsewhere, including on retailer websites and SharkNinja’s own site.
Digital channels can also help the company reach customers where retail shelf space is still limited. Barrocas said about half of SharkNinja’s products in Spain and Italy this holiday season will be available only through direct-to-consumer, social commerce and Amazon channels.
On the balance sheet, SharkNinja ended the quarter with nearly $488 million in cash and $709 million in debt. It repurchased approximately $50 million of stock during the quarter, bringing year-to-date repurchases to $170 million.
About SharkNinja (NYSE:SN)
SharkNinja is a global product design and technology company that develops and markets household appliances under its Shark and Ninja brands. Its products are designed for everyday home use and are sold through retail and online channels.
The Shark brand is known for floor-care and cleaning products, including vacuums and floor cleaners, as well as home-environment and beauty products. Ninja focuses on kitchen appliances and food-preparation products, such as air fryers, blenders, multicookers, and coffee makers.
