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. designs, engineers and manufactures performance products and systems for specialty sports and on- and off-road vehicles. Its brands include FOX, Marucci and Method Race Wheels, and its products include shocks, suspension components, wheels, baseball and softball gear, and related aftermarket offerings sold through retailers, distributors and direct-to-consumer channels.
Company news centers on quarterly results, sales and margin trends, segment performance in powered vehicles, aftermarket applications and specialty sports, tariff and product-mix effects, credit and debt actions, portfolio changes, and cost-savings initiatives. Updates also cover product launches such as Live Valve suspension kits, OEM and aftermarket channels, acquisitions of complementary businesses, and governance developments including board refresh actions and the Transformation Committee.
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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