secwatch.observer — SEC 8-K summary
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Issuer:     FOX FACTORY HOLDING CORP (FOXF)
CIK:        0001424929
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001424929-23-000131
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fox Factory Q2 net sales $401M (-1.5% YoY), adj EPS $1.21, SSG down 41%, reaffirms FY low end
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- Q2 net sales $400.7M (-1.5% YoY); net income $39.7M ($0.94 dil EPS) vs $53.5M ($1.26) prior year.
- Adjusted EPS $1.21, adjusted EBITDA $79.4M (19.8% margin), both down YoY but exceeded expectations.
- PVG +32.6%, AAG +26.2% driven by OEM and Custom Wheel House; SSG -41.0% on channel inventory glut.
- Gross margin fell 220 bps to 32.9% on inventory markup amortization and mix shift; adj gross margin 34.4%.
- FY2023 guidance net sales low end of $1.67-1.70B, adj EPS low end $5.00-5.30; Q3 adj EPS $1.00-1.20.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1424929/000142492923000131/0001424929-23-000131-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1424929/000142492923000131/foxf-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001424929-23-000131

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer