Air-fryer firm SharkNinja is still seeing strong demand

Shares in air-fryer maker SharkNinja (NYSE:SN) sizzled higher in Thursday’s trading as it impressed Wall Street with its first-quarter financials.

At $1.07 billion revenue for the three month period was up more than 24% from the same period last year, and it was comfortably ahead of the $918 million forecast by analysts.

The company, which also sells a range of popular household gadgets, told investors that its ‘food preparation appliances’ businesses had experienced a 74% uptick in sales compared to last year.

Chief executive Mark Barrocas described it as “a strong start to 2024”.

“We are gaining share in our existing product categories and geographies, we have a robust pipeline of innovative products in new categories, and we see significant opportunity to grow in international markets,” Barrocas said.

“Based on the strength of our performance so far, we are raising our full year outlook.”

For the full-year, SharkNinja reckons it will grow its sales by 10-12%, and it forecasts earnings (adjusted EBITDA) in the range of $840 million and $870 million which, if achieved, would mark a 17% to 21% improvement on 2023.

SharkNinja stock was upmore than 6% trading at $71.16 mid-way through the session.