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Jun 30, 2023
Fox Q2 2023 Earnings Report
Reported a decrease in net sales, but exceeded expectations on adjusted EBITDA and adjusted EBITDA Margin.
Key Takeaways
Fox Factory Holding Corp. reported a slight decrease in net sales for Q2 2023 at $400.7 million, compared to $406.7 million in Q2 2022. However, the company exceeded expectations on adjusted EBITDA and adjusted EPS. Strong sales growth in PVG and AAG, and strong cash flow were noted.
Net sales decreased by 1.5% to $400.7 million.
Net income was $39.7 million, with earnings per diluted share at $0.94.
Adjusted EPS exceeded expectations at $1.21.
Company reaffirms full year fiscal 2023 outlook at the low end of $1.67 billion to $1.70 billion of sales.
Revenue by Segment
Forward Guidance
The Company expects net sales in the range of $390 million to $410 million and adjusted earnings per diluted share in the range of $1.00 to $1.20 for Q3 2023. For fiscal year 2023, the company expects net sales at the low end of $1.67 billion to $1.70 billion, adjusted earnings per diluted share at the low end of the range of $5.00 to $5.30, and a full year effective tax rate to be within the range of 15% to 18%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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