Fox Factory reports Q3 adjusted EPS 35c, consensus 42c

Reports Q3 revenue $359.12M, consensus $368.87M. “Although we delivered sequential and year-over-year revenue growth in the third quarter, our OEM customers remained challenged due to broader market conditions impacting consumer discretionary spending, which pushed results towards the lower end of our expectations,” commented Mike Dennison, Fox’s CEO. “We’ve responded decisively to these challenges by implementing both immediate and longer-term actions to strengthen our business, including aggressive cost management and strategic operational improvements. Importantly, underlying demand for FOX’s innovative products remains strong across our segments, particularly evident in our aftermarket channels where we continue to see growth.”