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Fox Factory Holding (FOXF)
NASDAQ:FOXF
Holding FOXF?
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.29Last Year’s EPS
$0.48Same Quarter Last Year
Moderate Buy
Based on 5 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 31, 2024
|% Change Since: -17.00%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Neutral
The earnings call revealed a mixed performance, with strong growth in the bike business and aftermarket segments but significant challenges in OEM demand, particularly in the automotive sector. The company is actively addressing these issues with strategic initiatives aimed at cost savings and margin recovery. Despite some positive developments, the overall sentiment is tempered by persistent OEM-related challenges and macroeconomic pressures.Company Guidance
In the third quarter of 2024, Fox Factory Holding Corp. reported $359 million in revenue, marking an 8.5% year-over-year increase, primarily driven by a 22% sequential growth in the bike business and contributions from the Marucci acquisition. However, this performance was at the lower end of their guidance due to reduced demand forecasts from OEM partners, leading to a 19.5% drop in automotive product sales. Fox Factory's gross margin was 29.9%, down from 32.4% the previous year, impacted by product mix shifts and inventory optimization efforts. Adjusted EBITDA was $42 million, reflecting an adjusted EBITDA margin of 11.7%, a decline from 19.2% in the prior year, influenced by customer challenges and cost absorption issues. Looking ahead, the company aims for full-year sales between $1.341 billion and $1.381 billion and adjusted earnings per share of $1.27 to $1.42, with a focus on margin recovery and strategic cost savings initiatives to adapt to the challenging demand environment.Revenue Growth
Fox Factory reported $359 million in revenue, marking a 3.1% increase from the second quarter and an 8.5% increase compared to the prior year, driven by growth in the bike business and the acquisition of Marucci.
Bike Business Performance
The bike business showed continued growth with a 22% sequential increase following a 52% increase in the previous quarter. This improvement was achieved while maintaining flat operating expenses year-to-date.
PVG Aftermarket Business Growth
The PVG aftermarket business improved 28.3% sequentially, showing resilience despite broader market challenges.
Record New Bookings in PVG Aftermarket
The PVG aftermarket achieved the highest level of new bookings in over six quarters, demonstrating strong consumer demand for aftermarket products.
Strategic Cost Saving Initiatives
Fox Factory is implementing cost saving measures, expecting to capture over $25 million in savings through footprint consolidation, product rationalization, inventory reduction, and cost optimization.
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FOXF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FOXF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 31, 2024 | $35.99 | $34.02 | -5.47% |
| Aug 01, 2024 | $49.53 | $41.48 | -16.25% |
| May 02, 2024 | $39.42 | $43.52 | +10.40% |
| Feb 22, 2024 | $64.98 | $47.55 | -26.82% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Fox Factory Holding (FOXF) report earnings?
Fox Factory Holding (FOXF) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is Fox Factory Holding (FOXF) earnings time?
Fox Factory Holding (FOXF) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FOXF EPS forecast?
FOXF EPS forecast for the fiscal quarter 2024 (Q4) is $0.29.
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