12:42 PM EDT, 10/31/2024 (MT Newswires) -- (Updates with latest stock movement in the headline and first paragraph.)

SharkNinja ( SN ) shares fell nearly 18% in midday trading Thursday after reporting Q3 results that improved year-over-year.

The company reported Q3 adjusted net income of $1.21 per share, up from $0.95 a year earlier.

Analysts polled by Capital IQ expected $1.14.

Net sales for the quarter ended Sept. 30 were $1.43 billion, up from $1.07 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.33 billion.

The company said it now expects 2024 adjusted diluted net income of $4.13 to $4.24 per share, up from its previous outlook of $4.05 to $4.21. Analysts polled by Capital IQ expect $4.25.

Net sales for the year are now expected to increase 25% to 26%, up from its previous outlook of 20% to 22% growth.

Price: 91.25, Change: -19.68, Percent Change: -17.74