Fox Factory Holding Corp

FOXF

Equity

ISIN US35138V1026 / Valor 21868925

NASDAQ (2024-09-17)

USD 40.13+1.06%

Fox Factory Holding Corp
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About company

Fox Factory Holding Corp. is a global company known for designing and manufacturing premium products for specialty sports and on- and off-road vehicles. The company's portfolio includes well-known brands like FOX, Marucci, and Method Race Wheels, which are trusted by professional athletes and enthusiasts worldwide. Fox Factory is a direct supplier of shocks, suspension, and components to leading vehicle and bicycle original equipment manufacturers. In addition to its core shock and suspension business, the company diversifies its product offerings through acquisitions of complementary businesses, integrating engineering and manufacturing expertise to expand its market potential. Fox Factory also distributes its products through a global network of retailers and distributors, as well as direct-to-consumer channels.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Net Sales

Fox Factory Holding Corp. reported net sales of $348.5 million for the second quarter of fiscal 2024, reflecting a sequential increase of 4.5%. This performance was consistent with the company's expectations despite challenging market conditions.

Bike Revenues

In the second quarter of fiscal 2024, Fox Factory Holding Corp. saw a significant sequential growth in bike revenues, which increased by 52%. This growth was a positive highlight amidst broader industry pressures.

Earnings Per Share

Fox Factory Holding Corp. reported earnings per diluted share of $0.13 for the second quarter of fiscal 2024. Adjusted earnings per diluted share were $0.38, aligning with the company's expectations for the quarter.

Net Income Margin

The net income margin for Fox Factory Holding Corp. increased by 260 basis points sequentially in the second quarter of fiscal 2024. Additionally, the adjusted EBITDA margin improved to 12.7% from 12.1%, driven by strong aftermarket sales.

Full Year Guidance

Fox Factory Holding Corp. updated its full-year 2024 guidance, reflecting adjustments in light of ongoing industry challenges and macroeconomic headwinds. The company anticipates continued sequential improvement from the second to the third quarter, albeit at a more moderate pace than initially projected.

Summarized from source with an LLMView Source

Key figures

-61.3%1Y

-72.3%3Y

-40.5%5Y

Performance

63.8%1Y

52.4%3Y

55.0%5Y

Volatility