Fox Factory Holding: Fourth Quarter Earnings Overview

Fox Factory Holding Corp. Reports Fourth Quarter Loss

Fox Factory Holding Corp., headquartered in Duluth, Georgia, announced on Thursday that it recorded a fourth-quarter net loss of $287 million.

The company reported a loss of $6.86 per share for the quarter. After adjusting for nonrecurring items, earnings stood at $0.20 per share.

These adjusted results surpassed analysts’ expectations, as the consensus from five Zacks Investment Research analysts had predicted earnings of $0.14 per share.

Fox Factory, known for manufacturing vehicle suspension systems, generated $361.1 million in revenue during the quarter, outperforming the forecasted $349.1 million from three Zacks analysts.

For the full year, Fox Factory Holding Corp. posted a net loss of $544.6 million, or $13.03 per share, with total revenue reaching $1.47 billion.

Outlook for 2024

Looking ahead to the first quarter ending in March, the company anticipates revenue between $343 million and $369 million. For the entire year, projected revenue is expected to fall within the range of $1.33 billion to $1.42 billion.