DUBAI, UAE, June 27, 2024 /PRNewswire/ -- Al Khayyat Investments (AKI) has been appointed as the exclusive distribution partner in the UAE for SharkNinja, Inc. (NYSE: SN) - a global product design and technology company – in a move that provides more consumers with access to the products that they love. SharkNinja products will now be available locally for the first time in the Middle East beginning in the UAE. "This is an incredibly exciting partnership for both SharkNinja and AKI. We have a proud legacy o ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though? SharkNinja, Inc. currently has an average brokerage recommendation (ABR) of 1.22, on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by nine brokerag ...

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on SharkNinja, Inc. (SN), and suggests that while the average brokerage recommendation (ABR) indicates a strong buy, investors should be cautious and validate this information with other tools like the Zacks Rank [1][4][7]. Group 1: Brokerage Recommendations - SharkNinja, Inc. has an average brokerage recommendation (ABR) of 1.22, which is between Strong Buy and Buy, based on recommendations from nine brokerage firms [2]. - Out of the nine recommendations, eight are Strong Buy, accounting for 88.9% of all recommendations [2]. - The vested interest of brokerage firms often leads to a positive bias in their analysts' ratings, with a ratio of five "Strong Buy" recommendations for every "Strong Sell" [5][6]. Group 2: Zacks Rank Comparison - The Zacks Rank is a proprietary stock rating tool that categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell) and is based on earnings estimate revisions, making it a more reliable indicator of near-term stock performance [7][10]. - The Zacks Rank is updated more frequently than the ABR, reflecting timely changes in earnings estimates, which are crucial for predicting future price movements [12]. - The Zacks Consensus Estimate for SharkNinja, Inc. has increased by 7.8% over the past month to $3.82, indicating growing optimism among analysts regarding the company's earnings prospects [13]. Group 3: Investment Implications - The recent change in the consensus estimate, along with other factors, has resulted in a Zacks Rank 1 (Strong Buy) for SharkNinja, Inc., suggesting a potential for stock price appreciation [14]. - The Buy-equivalent ABR for SharkNinja, Inc. may serve as a useful guide for investors, but it is recommended to use it in conjunction with the Zacks Rank for better investment decisions [14].

SharkNinja, Inc. (SN) has been red-hot since being listed on the NYSE in August 2023. This Zacks Rank #1 (Strong Buy) is expected to grow sales and earnings by the double digits in 2024. SharkNinja is a global product design and technology company. It operates two brands, Shark and Ninja. It has a history of bringing small home appliances to the market. You know its products and probably use them. SharkNinja Has 4500+ patents and operates 5 innovation centers. Headquartered in Needham, Massachusetts, produc ...

SharkNinja, Inc. (SN) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company. Analysts' growing optimism on the earnings prospects of this company is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate re ...

Financial Data and Key Metrics - Adjusted net sales increased 28% to $1 1 billion in Q1 2024 [40] - Adjusted EBITDA grew 30% to $231 million with margins improving 30 basis points [40] - Adjusted gross profit increased 33% to $542 million with margins expanding 210 basis points [43] - Adjusted EPS grew 23% to $1 06 per share [45] - Inventory increased 47% YoY to $750 million driven by strong demand and supply chain mitigation efforts [77] Business Line Performance - Cleaning category sales grew 6% to $422 million driven by carpet extraction and robotic vacuums [41] - Food Preparation category sales surged 77% to $205 million led by CREAMi ice cream makers [42] - Cooking and Beverage category sales increased 29% to $330 million with strong outdoor cooking performance [21] - Other category sales jumped 66% to $110 million powered by haircare and FlexBreeze cooling system [22] Market Performance - North America sales grew 22% to $734 million representing 69% of total sales [20] - International sales increased 42% to $332 million with triple-digit growth in Germany France and LatAm [20] - UK sales grew 15% on top of 73% growth in Q1 2023 [16] - EMEA and LatAm markets showing strong momentum with expanded retail partnerships [35] Strategy and Competition - Three-pillar growth strategy focuses on new categories existing category share gains and international expansion [31][57][58] - Entered 18 new subcategories since 2021 expanding to 33 total subcategories [31] - Ninja FrostVault and Shark FlexBreeze launched in $2 billion addressable markets [33] - Air fryer category leadership maintained through continuous innovation [34] - Global addressable market estimated at $120 billion with less than 4% penetration [18] Management Commentary - Strong Q1 performance driven by balanced growth across all three pillars [54] - International business expected to outpace domestic growth in coming years [58] - Supply chain remains robust with improved visibility on shipping rates [36] - Tariff mitigation efforts on track to diversify production outside China by 2025 [37] - 2024 guidance raised with adjusted sales growth expected at 12-14% [79] Other Key Information - R&D expenses increased 19% to $70 million supporting new product development [23] - Sales and marketing expenses grew 41% to $215 million for brand building [44] - New CFO Patraic Reagan brings extensive global experience from Nike and other major brands [8][51] - Inventory build reflects strong demand supply chain mitigation and tariff preparations [77][78] Q&A Summary Randy Konik - Jefferies - Asked about additional category expansion opportunities beyond current success in beauty [69] - Management highlighted outdoor cooking and cooling as key growth areas with potential for new categories annually [70][71] Andrea Teixeira - JPMorgan - Inquired about inventory dynamics and guidance phasing [92] - Company explained Q1 inventory build was strategic to support demand and mitigate supply chain risks [93][95] Brooke Roach - Goldman Sachs - Questioned inventory growth outlook and promotional environment in North America [96] - Management noted industry challenges but emphasized SharkNinja's differentiated position through innovation and marketing [97][98] Steven Forbes - Guggenheim - Asked to unpack Q1 US segment outperformance [102] - Company attributed growth to strong base business new product impact retail expansion and inventory replenishment [125][126] Phillip Blee - William Blair - Inquired about international category expansion plans [128] - Management highlighted UK diversification and significant runway in less mature markets like Germany France and LatAm [129][130] Brian McNamara - Canaccord Genuity - Asked about IPO philosophy and expectations management [110] - Company emphasized consistent execution of long-term growth strategy [135] Rennie Pan - UBS - Questioned Cleaning category outlook and gross margin sustainability [136][154] - Management expressed confidence in category acceleration and discussed balancing innovation with value [113][155] Megan Alexander - Morgan Stanley - Sought clarification on restocking dynamics and weeks of supply [140] - Company explained US-specific inventory trends and guidance approach [141][142]

Exhibit 99.1 SHARKNINJA, INC. INDEX TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | | Page | | --- | --- | | Condensed Consolidated Balance Sheets (Unaudited) | 2 | | Condensed Consolidated Statements of Income (Unaudited) | 3 | | Condensed Consolidated Statements of Comprehensive Income (Unaudited) | 4 | | Condensed Consolidated Statements of Shareholders' Equity (Unaudited) | 5 | | Condensed Consolidated Statements of Cash Flows (Unaudited) | 6 | | Notes to Condensed Consolidated Financial Statements (Un ...

Looking for a stock that has been consistently beating earnings estimates and might be well positioned to keep the streak alive in its next quarterly report? SharkNinja, Inc. (SN) , which belongs to the Zacks Furniture industry, could be a great candidate to consider.When looking at the last two reports, this company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 12.58%, on average, in the last two quarters.For the most recent quarter, SharkNinja, Inc. Was ...

Dimitrios Kambouris/Getty Images Entertainment Company Presentation Founded in 1994, SharkNinja, Inc. (NYSE:SN) is a global product design and technology company. The firm has one goal: to create 5-star innovative lifestyle products and solutions for consumers around the world. As its name suggests, SN is made of two different brands, namely: Shark & Ninja. SN portfolio is divided into 31 sub-categories. The Shark brand creates products related to hair care, floor care (vacuums, floor & carpet cleaners), ai ...

NEEDHAM, Mass.--(BUSINESS WIRE)--SharkNinja, Inc. (NYSE: SN), a global product design and technology company, today announced that certain selling shareholders affiliated with Xuning Wang (collectively, the “Selling Shareholders”) have commenced an underwritten public offering of 4,691,899 ordinary shares of SharkNinja pursuant to a registration statement on Form F-1 filed with the Securities and Exchange Commission (the “SEC”). Additionally, the Selling Shareholders intend to grant the underwriters a 30-da ...