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Dec 30, 2022
Fox Q4 2022 Earnings Report
Achieved quarterly sales of $408.6 million and reported earnings per diluted share of $1.25.
Key Takeaways
Fox Factory Holding Corp. reported a strong fourth quarter with sales increasing by 19.4% to $408.6 million compared to the same period last fiscal year. The company's net income was $53.0 million, or $1.25 earnings per diluted share, compared to $37.7 million, or $0.89 earnings per diluted share in the same period last fiscal year. Non-GAAP adjusted earnings per diluted share was $1.43, compared to $1.06 in the same period last fiscal year.
Sales increased 19.4% to $408.6 million compared to the same period last fiscal year.
Gross profit increased 22.0% to $130.9 million compared to the same period last fiscal year.
Net income was $53.0 million, or 13.0% of sales and $1.25 of earnings per diluted share, compared to $37.7 million, or 11.0% of sales and $0.89 of earnings per diluted share in the same period last fiscal year.
Non-GAAP adjusted net income was $60.8 million, or $1.43 of non-GAAP adjusted earnings per diluted share, compared to $44.8 million, or $1.06 of non-GAAP adjusted earnings per diluted share in the same period last fiscal year.
Forward Guidance
For the first quarter of fiscal 2023, the Company expects sales in the range of $380 million to $400 million and non-GAAP adjusted earnings per diluted share in the range of $1.10 to $1.30. For the fiscal year 2023, the Company expects sales in the range of $1,670 million to $1,700 million and non-GAAP adjusted earnings per diluted share in the range of $5.15 to $5.45.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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