SharkNinja capped off its fiscal year with a strong fourth quarter, posting sales gains across its business, notably in its Food Preparation Appliances segment.
Net income for the quarter was $128.7 million, or 91 cents per diluted share, versus $49.3 million, or 35 cents per diluted share, in the prior-year period. Adjusted for one-time events, the company reported that net income was $197.6 million, or $1.40 per diluted share, versus $132.1 million, or 94 cents per diluted share, in the year-earlier quarter.
A Yahoo Finance-published analyst consensus estimate called for earnings of $1.28 per adjusted diluted share and revenues of $1.63 billion.
SharkNinja’s net sales advanced 29.7% to $1.79 billion from the year before quarter, with growth in all four company product segments. Cleaning Appliances net sales increased by 19.7% year over year in the period to $648 million, driven by the carpet extractor, hard floor and cordless vacuums sub-categories. Cooking and Beverage Appliances net sales increased 18.8% year over year to $597.3 million, driven by growth in Europe and the continued momentum within heated cooking. Food Preparation Appliances net sales increased by 89%, to $342 million, year over year, driven by solid sales in cream makers and frozen drink appliances. Beauty and Home Environment Appliances net sales increased by 31.1%, to $199.9 million year over year, primarily driven by haircare products and air purifiers.
Operating income increased 103.6% to $205.1 million, while adjusted operating income increased 28.1% to $256.5 million from the year-previous period.
For the full fiscal year, net income was $438.7 million, or $3.11 per diluted share, versus $167.1 million, or $1.20 per diluted share, in the prior year. Adjusted net income was $616.2 million, or $4.37 per diluted share, versus $449.3 million, or $3.22 per diluted share, in the year earlier, SharkNinja stated.
Net sales increased 30% to $5.53 billion from the fiscal year before. Operating income increased 72.4% to $644.2 million, while adjusted operating income increased 31.5% to $839.5 million from the previous year.
In announcing the financial results, Mark Barrocas, SharkNinja CEO, said, “SharkNinja delivered exceptional performance throughout 2024, capping off our strongest year to date with outstanding fourth-quarter results. Our proven three-pillar growth strategy continues to drive market share gains across our expanding product portfolio, fuel category expansion and accelerate our global presence. The remarkable execution by our teams, combined with our robust innovation pipeline and deep consumer insights, has strengthened our competitive position in our large and growing addressable market. As we enter 2025, we are energized by the tremendous opportunities ahead and remain confident in our ability to scale our brands globally while delivering innovative solutions that delight consumers.”
