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Fox Factory Holding Corp. (NASDAQ: FOXF) is a renowned designer, manufacturer, and marketer of performance-defining products and systems predominantly used in high-adrenaline activities and vehicles. Under the brands FOX, FOX RACING SHOX, and RACE FACE, the company offers top-tier products for bikes, Side-by-Sides, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles, motorcycles, and commercial trucks.
For over three decades, Fox Factory has committed itself to redefining ride dynamics, enabling both enthusiasts and professional athletes to push their limits. The company's innovations enhance performance through cutting-edge suspension and ride dynamics technology, earning the trust of users worldwide.
The company's latest strategic move includes the acquisition of Wheelhouse Holdings, Inc., the parent company of Marucci Sports LLC, for $572 million. This acquisition positions Fox Factory as a diverse provider of market-leading branded products. Marucci, known for its premium performance baseball, softball, and other sports-related products, will be integrated into Fox's Specialty Sports Group (SSG). CEO Mike Dennison emphasized that the acquisition aligns with Fox's growth strategy without compromising its core identity and values.
Fox Factory's geographical revenue distribution is primarily in North America, with significant presence in Asia, Europe, and other parts of the world. The company has a robust financial outlook, reaffirming its 2025 target of $2.0 billion in sales and a 25% adjusted EBITDA margin, excluding the Marucci acquisition. Additionally, Fox Factory has announced a share repurchase plan of up to $300 million, equating to roughly 8% of outstanding shares, to further enhance shareholder value.
The company continues to utilize a variety of channels for disseminating material information, including SEC filings, press releases, public conference calls, webcasts, and its investor relations website.
Fox Factory Holding Corp. (Nasdaq: FOXF) is set to announce its second-quarter results on August 4, 2022, after market close. A conference call with the executive management team will follow at 4:30 p.m. ET to discuss the results further. Investors can access the call via the Company’s website or through dedicated phone lines for North American and international listeners. Fox Factory specializes in performance-defining ride dynamics products for various vehicles, catering to both OEMs and aftermarket retailers.
Fox Factory Holding Corp. (NASDAQ: FOXF) reported record quarterly sales of $378.0 million for Q1 2022, marking a 34.4% increase year-over-year. Earnings per diluted share were $1.13, up from $0.90 in Q1 2021. Despite these gains, gross margin decreased to 31.8% due to rising supply chain costs. The company expects sales between $385 million and $405 million for Q2 2022 and full-year sales guidance of $1,500 million to $1,530 million.
Fox Factory’s Trail Trust program has allocated over $150,000 to 19 nonprofit organizations in Q1 2022 to promote outdoor educational opportunities, focusing on diverse populations. Launched in November 2021, Trail Trust aims to encourage responsible land use and enhance participation in cycling and power sports. The funding supports varied initiatives, including trail maintenance and community projects. The program has now contributed more than $600,000 to over 40 nonprofits.
Fox Factory Holding Corp. (Nasdaq: FOXF) will announce its first-quarter results for the period ending April 1, 2022, on May 5, 2022, after market close. A conference call with the management team will begin at 4:30 p.m. ET the same day to discuss the results. The call will be accessible via the company's Investor Relations website and will also be archived for one year. Fox Factory specializes in designing and manufacturing performance ride dynamics products for various vehicles, including bicycles and trucks, and is a direct supplier to major OEMs.
Fox Factory Holding Corp. (NASDAQ: FOXF) reported a strong fourth quarter for fiscal 2021 with sales of $342.3 million, a 30.5% increase from the prior year. The company achieved earnings of $0.89 per diluted share and non-GAAP adjusted earnings of $1.06 per diluted share. Despite challenges like inflation and supply chain issues, net income increased to $37.7 million. For fiscal 2022, FOXF projects sales between $1,435 million and $1,465 million, with adjusted earnings per share between $4.90 and $5.20.
Fox Factory Holding Corp. (Nasdaq: FOXF) will announce its fourth-quarter results for the period ending December 31, 2021, on February 24, 2022, after market close. A conference call with executive management to discuss these results is scheduled for the same day at 4:30 p.m. ET, available via the Company’s website. Fox Factory specializes in designing and manufacturing high-performance ride dynamics products for various vehicles, including bicycles and trucks, serving both OEMs and aftermarket markets.
Fox Factory Holding Corp. (Nasdaq:FOXF) announced that management will present at the CJS Securities 22nd Annual New Ideas for the New Year Conference on January 12, 2022. This virtual event will feature an investor presentation, which will be available on FOX's investor relations website during the conference. FOX designs and manufactures performance products for various vehicles including bicycles and trucks, serving leading OEMs and the aftermarket sector.
Fox Factory has launched its new community investment program, Trail Trust, aimed at promoting sustainable outdoor adventures. The initiative focuses on responsible land use and increasing diversity in cycling and power sports. With approximately $500,000 already awarded to over 20 outdoor organizations, the program seeks to enhance access for individuals with disabilities. This effort aligns with Fox's broader sustainability strategy, emphasizing environmental and social governance as integral to its operations.
Fox Factory Holding Corp. reported a record quarterly sales of $347.4 million for Q3 2021, a 33.3% increase from $260.7 million in Q3 2020. Earnings per diluted share rose to $1.03 from $0.90. Non-GAAP adjusted earnings per diluted share reached $1.19, up from $1.07. Gross margin declined to 33.4%, affected by supply chain costs. Operating expenses increased to $60.8 million, driven by higher employee and commission costs. For fiscal 2021, the company projects sales between $1,272 million and $1,292 million.
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