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In the last reported quarter, the company’s adjusted earnings per share (EPS) and net sales surpassed the Zacks Consensus Estimate by 11.6% and 9.8%, respectively. On a year-over-year basis, this global product design and technology company’s earnings and net sales were up 23.3% and 24.7%, respectively.
Notably, SharkNinja’s earnings topped the consensus mark in the last three quarters, the average surprise being 12.2%.
Trend in Estimate Revision
The Zacks Consensus Estimate for SharkNinja’s second-quarter earnings is pegged at 59 cents per share, which moved up from 57 cents in the past 30 days. The estimated figure suggests growth of 25.5% from the year-ago quarter’s reported figure of 47 cents.
The consensus estimate for net sales is pegged at $1.09 billion, indicating a 14.5% increase from the prior-year quarter’s figure of $950.3 billion.
SharkNinja is a high-growth product design and technology company known for its household and lifestyle appliances under the Shark and Ninja brands across 33 subcategories in over 32 markets.
In second-quarter 2024, SN is poised to showcase the strong execution of its diversified growth strategy. The company’s three-pronged growth strategy — focusing on existing categories, exploring new categories, and expanding internationally — is expected to fuel significant growth and create numerous opportunities. Their proven international playbook is anticipated to accelerate top-line growth.
Segment-wise, in the second quarter of 2024, the Cleaning Appliances segment, which comprised 39.6% of first-quarter 2024 sales, is anticipated to have benefited from the extractor and robotics sub-categories. The Cooking and Beverage Appliances segment, making up 30.9% of sales, is expected to grow in Europe, particularly in the UK, where SN has reinforced its market leadership. This segment is also expected to register global growth thanks to the success of outdoor grills and ovens in both the U.S. and European markets. Additionally, strong sales of ice cream makers and compact, portable blenders are projected to boost the Food Preparation Appliances segment, which accounted for 19.2% of first-quarter sales.
Along with solid sales leverage, SN’s bottom line is expected to gain, given supply-chain tailwinds and cost optimization efforts. The company’s three-pronged growth strategy (existing category, new category, and international expansion), along with its extensive diversification, is likely to support solid profitability.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for SharkNinja this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
Currently, SN has an Earnings ESP of +2.39% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With Favorable Combination
Here are some other companies in the Zacks Consumer Discretionary sector, which, according to our model, have the right combination of elements to post an earnings beat in their respective quarters to be reported.
HGV’s earnings for the second quarter are expected to increase 4.7%. The company reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 7.2%.
Choice Hotels International, Inc. (CHH - Free Report) currently has an Earnings ESP of +1.51% and a Zacks Rank of 2.
CHH’s earnings for the second quarter are expected to increase 6.9%. The company reported better-than-expected earnings in three of the last four quarters and missed on the remaining occasion, the average surprise being 4.6%.
Madison Square Garden Sports Corp. (MSGS - Free Report) currently has an Earnings ESP of +203.00% and a Zacks Rank of 3.
MSGS’ earnings topped the Zacks Consensus Estimate in two of the last four quarters and missed the remaining two, the average negative surprise being 496.2%. Earnings for the second quarter of 2024 are expected to increase 184.6% year over year.
Image: Bigstock
SharkNinja (SN) to Report Q2 Earnings: What's in the Cards?
SharkNinja, Inc. (SN - Free Report) is scheduled to report second-quarter 2024 results on Aug 8, before the opening bell.
In the last reported quarter, the company’s adjusted earnings per share (EPS) and net sales surpassed the Zacks Consensus Estimate by 11.6% and 9.8%, respectively. On a year-over-year basis, this global product design and technology company’s earnings and net sales were up 23.3% and 24.7%, respectively.
Notably, SharkNinja’s earnings topped the consensus mark in the last three quarters, the average surprise being 12.2%.
Trend in Estimate Revision
The Zacks Consensus Estimate for SharkNinja’s second-quarter earnings is pegged at 59 cents per share, which moved up from 57 cents in the past 30 days. The estimated figure suggests growth of 25.5% from the year-ago quarter’s reported figure of 47 cents.
The consensus estimate for net sales is pegged at $1.09 billion, indicating a 14.5% increase from the prior-year quarter’s figure of $950.3 billion.
SharkNinja, Inc. Price and EPS Surprise
SharkNinja, Inc. price-eps-surprise | SharkNinja, Inc. Quote
Factors to Influence Q2
SharkNinja is a high-growth product design and technology company known for its household and lifestyle appliances under the Shark and Ninja brands across 33 subcategories in over 32 markets.
In second-quarter 2024, SN is poised to showcase the strong execution of its diversified growth strategy. The company’s three-pronged growth strategy — focusing on existing categories, exploring new categories, and expanding internationally — is expected to fuel significant growth and create numerous opportunities. Their proven international playbook is anticipated to accelerate top-line growth.
Segment-wise, in the second quarter of 2024, the Cleaning Appliances segment, which comprised 39.6% of first-quarter 2024 sales, is anticipated to have benefited from the extractor and robotics sub-categories. The Cooking and Beverage Appliances segment, making up 30.9% of sales, is expected to grow in Europe, particularly in the UK, where SN has reinforced its market leadership. This segment is also expected to register global growth thanks to the success of outdoor grills and ovens in both the U.S. and European markets. Additionally, strong sales of ice cream makers and compact, portable blenders are projected to boost the Food Preparation Appliances segment, which accounted for 19.2% of first-quarter sales.
Along with solid sales leverage, SN’s bottom line is expected to gain, given supply-chain tailwinds and cost optimization efforts. The company’s three-pronged growth strategy (existing category, new category, and international expansion), along with its extensive diversification, is likely to support solid profitability.
What the Zacks Model Unveils
Our proven model predicts an earnings beat for SharkNinja this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is exactly the case here.
Currently, SN has an Earnings ESP of +2.39% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks With Favorable Combination
Here are some other companies in the Zacks Consumer Discretionary sector, which, according to our model, have the right combination of elements to post an earnings beat in their respective quarters to be reported.
Hilton Grand Vacations (HGV - Free Report) currently has an Earnings ESP of +16.12% and a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
HGV’s earnings for the second quarter are expected to increase 4.7%. The company reported better-than-expected earnings in each of the trailing four quarters, the average surprise being 7.2%.
Choice Hotels International, Inc. (CHH - Free Report) currently has an Earnings ESP of +1.51% and a Zacks Rank of 2.
CHH’s earnings for the second quarter are expected to increase 6.9%. The company reported better-than-expected earnings in three of the last four quarters and missed on the remaining occasion, the average surprise being 4.6%.
Madison Square Garden Sports Corp. (MSGS - Free Report) currently has an Earnings ESP of +203.00% and a Zacks Rank of 3.
MSGS’ earnings topped the Zacks Consensus Estimate in two of the last four quarters and missed the remaining two, the average negative surprise being 496.2%. Earnings for the second quarter of 2024 are expected to increase 184.6% year over year.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.