Fox Factory Q1 net loss $0.08/sh; revenue down 16.6% to $333.5M; narrows FY24 outlook

FOX FACTORY HOLDING CORP

2024-Q1 EPS reported -$0.08 revenue$333,472,000

GAAP net loss $3.5M ($0.08 per diluted share) vs net income of $41.8M ($0.98) year ago.
Adjusted EPS of $0.29 beat expectations; revenue $333.5M declined 16.6% YoY.
All segments fell: AAG -27%, PVG -17%, SSG -5%; aftermarket mix rose to 59% of sales.
Adjusted EBITDA margin fell to 12.1% from 19.8%; inventory down $17.8M QoQ to $354M.
FY24 guidance narrowed: net sales $1.53-$1.61B, adj. EPS $2.30-$2.55; Q2 view $340-$360M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FOX FACTORY HOLDING CORP reported first fiscal quarter ended March 29, 2024 results: revenue $333.5 million, net income $3.5 million, EPS $0.08. Guidance lowered.

Period: first fiscal quarter ended March 29, 2024
Revenue: $333.5 million
Net income: $3.5 million
EPS: $0.08
Guidance: lowered
Result: reported results

Exact text from the filing

Fox Factory’s branded off-road upfitted truck, model year ’25 bike releases and the introduction of side-by-side upfits • Net sales for the first quarter of fiscal 2024 were $333.5 million and in line with expectations • Loss per diluted share for the first quarter of fiscal 2024 was $0.08, and adjusted earnings per diluted share was $0.29 and above our

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Source: SEC EDGAR

accession 0001424929-24-000052

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