Fox Factory Holding Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 results exceeded guidance with $368.7M revenue and $35.7M adjusted EBITDA. Cost savings and portfolio actions are on track, with margin expansion expected in H2. Full-year guidance is reaffirmed, despite ongoing macro and industry challenges.
Fiscal Year 2025
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Full-year sales grew 5.3% to $1.47B, but margin pressures led to a major cost reduction plan and divestitures of non-core businesses. 2026 guidance calls for a 6.5% sales decline but a 200 bps EBITDA margin improvement, with $50M in targeted savings and all divestiture proceeds going to debt reduction.
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Q3 2025 saw 4.8% sales growth and margin improvement, but net loss due to strategic investments and macro headwinds. Guidance for Q4 and full-year 2025 was revised down amid supply chain disruptions and soft consumer demand, with a continued focus on cost reduction and margin recovery.
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Q2 net sales rose 7.6% year-over-year to $374.9M, with all segments growing and adjusted EBITDA margin reaching a two-year high. Full-year sales guidance was raised, but EPS guidance narrowed due to higher tariff costs, with about half of the $50M impact expected to be offset.
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Q1 2025 saw 6.5% sales growth to $355M, with sequential margin improvements and strong performance across all segments. Despite a $262M goodwill impairment, adjusted EPS met expectations, and full-year guidance is reaffirmed as cost savings and tariff mitigation strategies progress.
Fiscal Year 2024
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Q4 sales and adjusted EPS met guidance, with cost reduction and working capital improvements driving $63M in debt paydown. FY25 outlook is cautious, with growth expected in AAG and Marucci, and margin improvement weighted to the second half as $25M in cost savings are realized.
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Q3 2024 saw 8.5% year-over-year revenue growth, led by bikes and Marucci, but margins declined due to OEM demand cuts and inventory actions. Cost-saving initiatives and strategic investments are underway, with a cautious outlook for 2025 as macro and consumer headwinds persist.
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Q2 2024 saw sequential improvement in sales and margins, but year-over-year declines due to macro headwinds and OEM challenges. Guidance was revised downward, with growth expected to resume in the second half, led by bike and Marucci, and further supported by new product launches and the MLB agreement.