SharkNinja Sees FY24 Adjusted Net Income Per Diluted Share Between $3.66-$3.82 Vs. $3.61 Estimate (Prior View: $3.45-$3.61,); Projects Adjusted Net Sales To Increase Between 12%-14% YoY (Prior View: 7%-9%)
Portfolio Pulse from Benzinga Newsdesk
SharkNinja has updated its FY24 financial outlook, projecting an increase in adjusted net income per diluted share to $3.66-$3.82 from a prior estimate of $3.45-$3.61. Adjusted net sales are expected to grow 12%-14% YoY, up from the previous 7%-9% forecast. Adjusted EBITDA is anticipated to be between $840 million and $870 million, marking a 17%-21% increase from the prior year. The company also expects a GAAP effective tax rate of 24%-25%, diluted weighted average shares outstanding of approximately 141 million, and capital expenditures of $160 million to $180 million.
May 09, 2024 | 12:20 pm
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POSITIVE IMPACT
SharkNinja's updated FY24 financial outlook indicates a positive trajectory with increased adjusted net income per share and sales growth. The company's strategic investments and diversification efforts are expected to contribute to this growth.
The upward revision in SharkNinja's financial outlook for FY24, including higher adjusted net income per share and sales growth, suggests strong business performance and operational efficiency. The company's focus on new product launches and diversification of sourcing are likely to be key drivers behind the positive forecast. This updated outlook could lead to increased investor confidence and potentially a positive impact on SharkNinja's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100