SN Raises 2026 Outlook as International Growth Fuels Earnings Upside

Management now expects 2026 net sales growth of 16-17%, up from its prior 11.5-12.5% range. Adjusted earnings are projected at $6.45-$6.55 per share, compared with the previous $6-$6.10 outlook.

Adjusted EBITDA guidance also increased to $1.36-$1.37 billion from $1.29-$1.30 billion. The revision followed second-quarter net sales growth of 22.2% to $1.77 billion and adjusted earnings growth of 29.9% to $1.26 per share, which topped the Zacks Consensus Estimate of $1.10.

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SharkNinja's International Growth Leads the Upside

International net sales increased 36.6% year over year to $624 million in the second quarter, well ahead of Domestic growth of 15.5% to $1.14 billion. Expansion across the United Kingdom, Europe and Latin America supported the gap.

Management estimates SharkNinja remains less than 10% penetrated across categories in EMEA. The company has also completed distributor-to-direct transitions in Italy and Spain, finished rolling out its upgraded direct-to-consumer platform across major international markets and expanded TikTok Shop to seven countries by quarter-end.

SN's Tariff Refund Adds a Complex Earnings Tailwind

About $247.1 million of tariff refund claims have been accepted by U.S. Customs and Border Protection, and SharkNinja expects to recognize the benefit as a reduction of cost of sales in the third quarter of 2026. The refund creates a sizable accounting benefit, but it does not fully explain the guidance raise.

Approximately 15 cents of the increase in adjusted earnings guidance and about $30 million of the higher adjusted EBITDA outlook reflect the expected refund benefit. Management plans to reinvest part of the proceeds in retail activation, media, technology and artificial intelligence while continuing to absorb ongoing tariff and input-cost pressures.

SharkNinja's Spending Could Temper Margin Gains

Research and development expense rose 22.3% year over year in the second quarter, sales and marketing increased 23.4% and general and administrative expense climbed 40.8%. Adjusted EBITDA still grew 18.6%, but its margin declined about 50 basis points to 15%.

Those figures keep operating leverage in focus because revenue must continue to outpace selected investment areas. Newell Brands Inc. NWL is a relevant consumer-products comparison through kitchen-appliance brands such as Oster and household offerings including FoodSaver. Helen of Troy Limited HELE also operates across branded home, outdoor, beauty and wellness products, providing another reference point for consumer spending and margin execution.

SN's Rank and Scores Back the Earnings Momentum

The bottom line is that SharkNinja's higher outlook is supported by faster international growth and broad operating momentum, while tariffs and elevated spending remain meaningful offsets. The earnings trajectory has improved, but sustained execution matters as the stock trades at a premium valuation.

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SN currently carries a Zacks Rank #2 (Buy), along with a Growth Score of A and VGM Score of B. That combination is favorable for investors emphasizing growth within top Zacks Rank stocks. The Value Score of F reflects weaker value characteristics, while the Momentum Score of C is less supportive than an A or B, keeping the overall setup positive but selective rather than one-sided. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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