Fox Factory Holding Corp. - FOXF STOCK NEWS

Fox Factory Holding Corp. reported a record second quarter for fiscal 2021, with sales reaching $328.2 million, a 79.2% increase year-over-year. Earnings per diluted share were $1.05, up from $0.32 in the same period last year. The company's gross margin improved to 33.9% from 32.8% as the non-GAAP adjusted gross margin rose to 34.1%. Major growth came from a 92.4% increase in Powered Vehicles Group sales and a 63.9% rise in Specialty Sports Group sales. The company also made two acquisitions, enhancing its market position, and expects third quarter sales between $300 million and $320 million.

Fox Factory Holding Corp. (Nasdaq: FOXF) will announce its Q2 2021 results on August 5, 2021, following the market's close. A conference call with executive management will occur at 4:30 p.m. ET on the same date to discuss the financial results in detail. The call can be accessed live via the company's website, and will be archived for one year. Fox Factory specializes in performance-defining ride dynamics products for various vehicles, catering to OEMs and aftermarket supply.

Fox Factory Holding Corp. (Nasdaq:FOXF) will present at Baird's 2021 Global Consumer, Technology and Services Conference on June 8, 2021. The company specializes in designing and manufacturing performance-defining ride dynamics products for various vehicles, including bicycles, trucks, and specialty vehicles. FOX serves as a direct supplier to prominent powered vehicle OEMs and top bicycle manufacturers, providing aftermarket products through retailers and distributors. This strategic participation in the conference highlights FOX's commitment to growth and innovation in the industry.

Fox Factory Holding Corp. (Nasdaq: FOXF) has appointed three key leaders to strengthen its growth and strategic vision. Tom L. Fletcher is promoted to President, PVG Business & Corporate Strategy, focusing on enhancing product offerings and go-to-market strategies. Toby D. Merchant joins as Chief Legal Officer, bringing extensive corporate governance experience. Jackie B. Martin is elevated to Chief Purpose & Inclusion Officer, emphasizing inclusion and ESG initiatives. These changes aim to support FOX's evolving business framework and enhance operational efficiency for future growth.

Fox Factory Holding Corp. (NASDAQ: FOXF) reported record first-quarter sales of $281.1 million, a 52.5% increase year-over-year. Earnings per diluted share reached $0.90, up from $0.21 in the same period last year. The gross margin improved to 34.8% from 30.7%, driven by higher sales volume and favorable product mix. Adjusted EBITDA was $60.4 million, representing a margin of 21.5%. For full fiscal 2021, the company expects sales between $1,110 million and $1,160 million and adjusted earnings per diluted share of $3.70 to $4.00.

Fox Factory Holding Corp. (Nasdaq: FOXF) will report its first-quarter results on May 6, 2021, after market close. A conference call with the management team is scheduled for the same day at 4:30 p.m. ET to discuss the results. The call will be accessible via the Company’s website and by phone. Fox Factory specializes in designing and manufacturing performance-enhancing ride dynamics products for various vehicles, including bicycles, trucks, and motorcycles, and serves leading OEMs in the powered vehicle sector.

Fox Factory Holding Corp. (NASDAQ: FOXF) reported record fourth quarter sales of $262.4 million, a 41.2% increase compared to the previous year. Earnings per diluted share rose to $0.75, up from $0.58. Adjusted EBITDA was $51.2 million with a margin of 19.5%. For fiscal year 2020, total sales reached $890.6 million, an 18.6% increase year-over-year. The company expects first quarter 2021 sales of $255.0 million to $275.0 million and annual sales of $1,035 million to $1,085 million in fiscal 2021.

Fox Factory Holding Corp. (NASDAQ: FOXF) announced the retirement of Larry L. Enterline as Executive Chair of the Board, effective April 2, 2021. Enterline, a key figure for nearly a decade, was succeeded by Dudley Mendenhall, the current Lead Independent Director. Under Enterline's leadership, FOX's revenue soared from $272.7 million in 2013 to $619.2 million in 2018. CEO Mike Dennison expressed gratitude for Enterline’s mentorship and highlighted the company’s goal of surpassing $1 billion in revenue. The changes aim to strengthen leadership while pursuing strategic growth.

Fox Factory Holding Corp. (Nasdaq: FOXF) will present at the BofA Consumer and Retail Technology Conference 2021 on March 9, 2021. The company specializes in designing and manufacturing ride dynamics products for various vehicles, including bicycles, trucks, and all-terrain vehicles. As a direct supplier to leading OEMs, FOXF plays a crucial role in the performance of powered vehicles and offers aftermarket products to retailers and distributors.