Fox Factory Holding Corp. · Q2 2020 earnings

Briefing

Achieved sales of $183.1 million, with gross margin increasing 40 basis points to 32.8%, and reported earnings per diluted share of $0.32.

Fox Factory Holding Corp. reported a 4.7% decrease in sales to $183.1 million for the second quarter of fiscal 2020, compared to $192.1 million in the same period last fiscal year. Net income attributable to FOX stockholders was $12.6 million, or $0.32 of earnings per diluted share, compared to $22.9 million, or $0.59 of earnings per diluted share in the same period last fiscal year.

• Sales decreased 4.7% to $183.1 million compared to the same period last fiscal year.
• Gross margin increased 40 basis points to 32.8% compared to the same period last fiscal year.
• Net income attributable to FOX stockholders was $12.6 million, or 6.9% of sales and $0.32 of earnings per diluted share.
• Specialty Sports Group was a standout success in the quarter, exceeding pre-COVID expectations and delivering 10.0% growth.

Headline financials

Revenue & EPS history

Due to the rapidly evolving market conditions domestically and internationally in response to the continued spread of COVID-19, full fiscal 2020 guidance remains suspended as previously reported on April 9, 2020 and the Company does not intend to provide quarterly guidance until the effects of the pandemic can be better assessed.