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) will announce its first-quarter results on May 4, 2023, after market close. A conference call with the executive management team will follow at 4:30 p.m. ET on the same day, streamed live on its website. The company specializes in ride dynamics products for various vehicles, including bicycles and trucks, and serves top OEMs in the industry. The call will also be archived for future viewing.
Fox Factory Holding Corp. (NASDAQ: FOXF) reported fourth quarter sales of $408.6 million, marking a 19.4% increase from the previous year. Earnings per diluted share rose to $1.25, up from $0.89. Gross profit grew 22.0% to $130.9 million, with a gross margin of 32.0%. For fiscal 2022, total sales reached $1.602 billion, a 23.4% increase year-over-year. The company anticipates fiscal 2023 sales between $1.67 billion and $1.70 billion, with non-GAAP adjusted earnings per diluted share projected at $5.15 to $5.45. The recent acquisition of Custom Wheel House, LLC is expected to enhance market diversification.
Fox Factory Holding Corp. (NASDAQ: FOXF) has announced the acquisition of Custom Wheel House, LLC (CWH) for $131.6 million, financed through cash and a line of credit. The acquisition will enhance FOX's position in the aftermarket vehicle performance sector, particularly in off-road products. CWH's portfolio includes Method Race Wheels and Tensor Tire, aligning with FOX's existing offerings. This strategic move is set to broaden FOX's market reach and is expected to be accretive to fiscal 2023 results. The deal is anticipated to close by the end of Q1 2023, pending customary conditions.
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