SharkNinja Raises 2026 Outlook After Sales Climb 21.2%, With Tariff Refunds Padding Reported Profit
Adjusted profit rose 55.1% in the third quarter, while tariff-refund claims pushed reported gross margin to 59.2%.
SharkNinja, which designs and sells Shark and Ninja household appliances, raised its 2026 sales and adjusted earnings outlook after third-quarter net sales rose 21.2% to $1,976.4 million, the company said Wednesday. Reported profit got a lift from refund claims on tariffs, which the company strips out of its adjusted figures.
Refunds lift the reported numbers
Net income jumped 79.3% to $338.4 million, or $2.39 per diluted share, from $188.7 million a year earlier. Gross margin rose to 59.2% from 50.1%, mainly on refund claims for duties paid under the International Emergency Economic Powers Act, or IEEPA.
Gross margin benefited from $243.8 million in IEEPA refund claims, less $45.2 million payable to factory partners. The company recognized $109.6 million tied to duties expensed in 2025, against its original expectation of about $123.6 million, out of a total claim of about $247.1 million accepted by U.S. Customs and Border Protection.
Stripping out those 2025 refunds, adjusted net income rose 55.1% to $330.9 million, or $2.34 per share. Adjusted EBITDA rose 45.7% to $461.3 million, or 23.3% of net sales. Adjusted gross margin rose to 55.9% from 50.3%.
Espresso machines drive the sales gain
Cooking and Beverage Appliances sales climbed 36.6% to $597.7 million, led by the Ninja Luxe Café espresso machine and the Ninja Crispi. Beauty and Home Environment sales rose 45.8% to $276.1 million, and Food Preparation rose 18.3% to $485.5 million. Cleaning, the slowest category, rose 4.1% to $617.2 million.
Domestic sales rose 19.4% and international sales rose 25.2%. CEO Mark Barrocas said the quarter was the company's "14th consecutive quarter of double-digit growth."
SharkNinja does not make its own goods. Third-party suppliers, mainly in China, assemble them, and Amazon, Costco and Walmart together made up 45.7% of 2025 net sales, according to its annual report.
A higher bar for the full year
The company now expects 2026 net sales growth of 18.0% to 19.0%, up from 16.0% to 17.0%. Adjusted earnings per share are guided to $6.65 to $6.75, from $6.45 to $6.55, and adjusted EBITDA to $1,380 million to $1,391 million, from $1,357 million to $1,369 million.
The outlook assumes current tariff levels persist through year-end, including minimum rates of 10% for Indonesia, Malaysia and Cambodia and 12.5% for China, Vietnam and Thailand. The company now expects total refunds for 2025 duties of about $145.4 million, including roughly $35.8 million in the fourth quarter.
Inventories reached $1,428.2 million, up 42.5% from December 31, 2025. Cash stood at $487.8 million and total debt at $708.8 million. In the quarter it bought back 293,132 shares for $50.0 million.
SharkNinja held its call to discuss the results at 8:30 a.m. Eastern on Wednesday.
