Welcome to our dedicated page for Fox Factory Hldg news (Ticker: FOXF), a resource for investors and traders seeking the latest updates and insights on Fox Factory Hldg stock.
Fox Factory Holding Corp (FOXF) designs and manufactures high-performance suspension systems for vehicles ranging from off-road bikes to commercial trucks. This news hub provides investors and industry professionals with timely updates on corporate developments, product innovations, and market trends impacting this leading suspension technology provider.
Access comprehensive coverage of FOXF's press releases, earnings reports, and strategic initiatives. Track announcements related to engineering advancements, partnerships, and global expansion efforts across their FOX, FOX RACING SHOX, and RACE FACE brands. Our curated news collection serves as your centralized source for understanding FOXF's position in the performance vehicle components sector.
Key updates include product launch details, financial performance milestones, manufacturing innovations, and industry recognition. Bookmark this page for ongoing access to verified FOXF news without promotional bias.
Fox Factory Holding Corp. (Nasdaq: FOXF) has announced its debut in the Rebelle Rally 2024, the longest competitive off-road navigation rally in the US. The company is fielding a team in the 4x4 class, featuring professional driver Kristen Matlock and Fox Factory test engineer Ashleigh Ballas. They will drive a Fox Factory-designed King of the Hammers Edition Ford Bronco with a custom suspension package.
Fox is also returning as an official partner through its Trail Trust social impact initiative, which focuses on sustainable adventure and expanding access to outdoor activities. The rally, taking place from October 10 to 19, 2024, will cover over 1,500 miles of desert terrain in California and Nevada, with teams relying solely on map and compass navigation.
Fox Factory Holding Corp. (Nasdaq: FOXF) has released its third annual sustainability report, highlighting progress in 2023 across four strategic areas: Planet, People, Product, and Business Fundamentals. Key achievements include:
Planet: 37% increase in renewable energy use at major facilities, expansion of Trail Trust initiative, and ISO certifications for environmental and safety management.
People: Launch of employee recognition program, new Learning Management System, and Veterans Employee Resource Group.
Product: Increased pre-production testing, new testing facilities, and sustainable packaging initiatives.
The report underscores Fox Factory's commitment to innovation, sustainability, and industry leadership in performance and adventure products.
Fox Factory Holding Corp. (NASDAQ: FOXF) reported its Q2 fiscal 2024 financial results. Net sales were $348.5 million, down 13.0% year-over-year but up 4.5% sequentially. Earnings per diluted share was $0.13, while adjusted earnings per diluted share was $0.38. The company saw a 52% sequential growth in bike revenues and improved net income and adjusted EBITDA margins. However, challenges persist in the Aftermarket Applications Group (AAG) and Powered Vehicles Group (PVG) segments due to macroeconomic headwinds. Fox Factory updated its full-year 2024 guidance and announced leadership changes, including CFO Dennis Schemm taking on the additional role of AAG President.
Fox Factory Holding Corp. (Nasdaq: FOXF) will release its second quarter 2024 financial results on Thursday, August 1, 2024, after market close.
A conference call with the executive management team is scheduled for the same day at 4:30 p.m. ET to discuss the results.
The call will be broadcast live on the Investor Relations section of the Company's website and will be archived for one year.
For North American listeners, the dial-in number is (800) 579-2543, and for international listeners, it's (785) 424-1789. The conference ID is FOXFQ224 or 36937224.
Fox Factory Holding Corp.'s subsidiary, Marucci Sports, has signed a license agreement with MLB, making Marucci and Victus brands the exclusive 'Official Bats' of MLB from January 1, 2025, to December 31, 2028.
This agreement includes exclusive rights to use MLB trademarks with Marucci’s Smart Bat products, featuring embedded Diamond Kinetics bat sensors. Marucci and Victus are the top two most-used bats among MLB players, underscoring their leadership in the market.
Additionally, Lizard Skins, another brand in Marucci’s portfolio, remains the 'Official Bat Grip' of MLB. This collaboration aims to strengthen the presence of these brands in the baseball equipment market.
More details are expected in a future joint announcement with MLB.
Fox Factory Holding Corp. reported financial results for the first quarter fiscal 2024, showcasing a strategic diversification with aftermarket sales increasing to 59%, new product launches, and adjusted earnings per diluted share exceeding expectations. However, net sales decreased by 16.6% due to decreases in the Aftermarket Applications Group, Powered Vehicles Group, and Specialty Sports Group. The company's net income margin decreased, gross margin saw a 240 basis point decrease, and adjusted EBITDA margin improved sequentially. The Company's management expects sequential growth in the second quarter and further acceleration in the second half of fiscal 2024 but narrowed their full-year outlook to the bottom-half of the previous range.
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