SharkNinja (SN) Q2 2026 earnings summary

Executive summary

• Net sales for Q2 2026 increased 22.2% year-over-year to $1.77 billion, marking the fastest growth since 2024, with broad-based strength across categories and geographies, and strong international expansion.

• Adjusted Net Income rose 29.3% to $178.2 million, while Adjusted EBITDA increased 18.6% to $264.9 million (15.0% margin); Adjusted Net Income per diluted share increased 29.9% to $1.26.

• International net sales surged 36.6%, outpacing domestic growth of 15.5%, driven by expansion in the UK, Europe, and Latin America.

• Profitability was strong despite a slight gross margin decline due to tariffs and currency, with cost optimization and favorable mix offsetting some pressure.

• Raised full-year 2026 guidance for net sales, adjusted EBITDA, and adjusted EPS, reflecting robust operational momentum and expected tariff refund benefits.

Financial highlights

• Q2 2026 net sales: $1.77 billion (+22.2% YoY); adjusted gross profit up 21.5% to $860.3 million; adjusted operating income up 19.6% to $231.5 million.

• Adjusted net income for Q2 2026: $178.2 million ($1.26 per diluted share); net income decreased 7.0% to $129.8 million ($0.92 per diluted share) due to higher operating expenses and foreign currency losses.

• Cash and cash equivalents at June 30, 2026: $779.8 million, up over 300% year-over-year; available revolving credit: $489.8 million.

• Share repurchases in H1 2026 totaled $119.7 million; $630.3 million remains authorized under the $750 million program.

• Inventories increased 14.1% to $1,143.6 million since December 31, 2025, viewed as healthy.

Outlook and guidance

• Fiscal 2026 net sales expected to rise 16.0%–17.0% year-over-year, up from prior guidance of 11.5%–12.5%.

• Adjusted Net Income per diluted share forecasted at $6.45–$6.55, a 22.2%–24.1% increase, with $0.15 from expected tariff refund benefit.

• Adjusted EBITDA projected at $1,357–$1,369 million, up 19.5%–20.5% year-over-year, including $30 million from tariff refunds.

• Capital expenditures planned at $190–$210 million, tracking toward the high end, focused on new product launches and technology.

• GAAP effective tax rate expected at 22.0%–23.0%; adjusted effective tax rate at 19.7%.