Fox Factory Q2 adj EPS $0.38, revenue $348.5M (-13% YoY); cuts FY24 guidance

FOX FACTORY HOLDING CORP

2024-Q2 EPS reported $0.05 revenue$681,963,000

Q2 net sales $348.5M, down 13% YoY; net income $5.4M ($0.13 diluted EPS) vs $39.7M ($0.94).
Adjusted diluted EPS $0.38 vs $1.21 YoY; adjusted EBITDA $44.1M vs $79.4M.
FY24 guidance: net sales $1.407B-$1.477B, adj EPS $1.40-$1.72; Q3 net sales $355M-$385M, adj EPS $0.35-$0.50.
CFO Dennis Schemm appointed President of AAG, retains CFO role; CAO Brendan Enick adds Treasurer duties after Thomas Fletcher departure.
Drew $200M delayed draw term loan to pay down revolver; improved covenant profile.

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