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.'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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