(Adds Outlook)
SharkNinja, Inc. (SN) released earnings for its fourth quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $49.324 million, or $0.35 per share. This compares with $46.639 million, or $0.34 per share, in last year's fourth quarter.
Excluding items, SharkNinja, Inc. reported adjusted earnings of $132.114 million or $0.94 per share for the period.
Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 16.5% to $1.377 billion from $1.182 billion last year.
Outlook:
Looking ahead, for the full year 2024, the company expects its earnings to rise above analysts' estimates. Excluding items, SharkNinja expects income per share of $3.45 to $3.61, compared with analysts' average estimate of $3.33 per share and last year's $3.22 per share. Net sales are projected to increase 5 percent to 7 percent from last year's $4.253 billion.
Analysts, on average, forecast the firm to record a revenue of $4.42 billion for the year.
SharkNinja, Inc. Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $49.324 Mln. vs. $46.639 Mln. last year.-EPS (Q4): $0.35 vs. $0.34 last year.-Analyst Estimate: $0.86-Revenue (Q4): $1.377 Bln vs. $1.182 Bln last year.
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