Fox Factory Beats Earnings and Revenue Forecasts with Non-GAAP EPS of $1.20
May 5, 2023
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Fox Factory Holding ($NASDAQ:FOXF) Corp (FOXF) reported Non-GAAP earnings per share (EPS) of $1.20, beating the consensus estimate of $1.19, and revenue of $399.9M, which exceeded the forecast of $393.85M. Fox Factory Holding Corp is a leading manufacturer of performance-defining ride dynamics products used primarily on mountain bikes, side-by-sides, snowmobiles, all-terrain vehicles, and recreational off-road vehicles. The company’s products are designed, engineered, tested and assembled in the United States and sold to original equipment manufacturers worldwide.
Fox Factory Holding Corp shares are traded on the NASDAQ Stock Market. The Non-GAAP EPS beat the consensus estimate of $1.19 and revenue exceeded the forecast of $393.85M.
Earnings
FOX FACTORY HOLDING released its earnings report for FY2022 Q4 ending December 31 2022, and the results were impressive. Total revenue for the quarter was reported at 408.64M USD, a 19.4% increase from the same quarter of the previous year. Similarly, net income for the period reached 52.96M USD, representing a 40.4% increase from the same period in the prior year.
This brings total revenue for the company over a three-year period to 408.64M USD, up from 262.39M USD. These earnings show that FOX FACTORY HOLDING continues to be a strong performer in the industry.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FOXF. More…
| Total Revenues | Net Income | Net Margin |
| 1.6k | 205.28 | 12.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FOXF. More…
| Operations | Investing | Financing |
| 187.09 | -44.73 | -179.14 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FOXF. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.62k | 496.95 | 26.53 |
Key Ratios Snapshot
Some of the financial key ratios for FOXF are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 28.7% | 29.8% | 15.1% |
| FCF Margin | ROE | ROA |
| 8.9% | 13.9% | 9.4% |
Price History
FOX FACTORY HOLDING announced on Thursday that it had beaten estimates for both earnings and revenue, with non-GAAP earnings per share (EPS) of $1.20. The announcement sent the stock price upwards before the closing bell, but it ended the day lower than its opening price, down 3.2% to close at $106.7. This beat expectations and shows strong performance for FOX FACTORY HOLDING, although the stock dipped after the announcement. Live Quote…
Analysis
At GoodWhale, we conducted an analysis to assess FOX FACTORY HOLDING’s wellbeing. According to our Star Chart, FOX FACTORY HOLDING is classified as ‘gorilla’, a type of company we conclude that achieved stable and high revenue or earning growth due to its strong competitive advantage. We believe that this type of company may be of interest to a variety of investors, such as value investors, growth investors, and dividend investors. In terms of FOX FACTORY HOLDINGS’ performance, they are strong in asset, growth, and profitability, but weak in dividend. However, they have a high health score of 10/10 considering their cashflows and debt. This means that they are capable to pay off debt and fund future operations. More…
Peers
The Company’s products are sold to original equipment manufacturers and aftermarket customers. Fox Factory Holding Corp was founded in 1974 and is headquartered in Scotts Valley, California. Hankook & Co is a South Korean company that manufactures and sells tires. The company was founded in 1941 as the Chosun Tire Company and changed its name to Hankook Tire in 1968. Hankook Tire has manufacturing plants in South Korea, China, Hungary, and Indonesia. The company sells its tires under the Hankook, Kumho, and Nexen brands. Federal Corp is a Taiwanese company that manufactures and sells tires. Federal Corp was founded in 1954 and is headquartered in Taipei, Taiwan. The company has manufacturing plants in Taiwan, China, and Thailand. Federal Corp sells its tires under the Federal, Achilles, and Atturo brands. PT Multistrada Arah Sarana Tbk is an Indonesian company that manufactures and sells tires. PT Multistrada Arah Sarana Tbk was founded in 1976 and is headquartered in Jakarta, Indonesia. The company has manufacturing plants in Indonesia and Vietnam. PT Multistrada Arah Sarana Tbk sells its tires under the Multistrada, Tristar, and Maxxis brands.
– Hankook & Co ($KOSE:000240)
Hankook & Co is a South Korean conglomerate with a market cap of 1.17T as of 2022. The company has a Return on Equity of 5.05%. Hankook & Co is involved in a variety of businesses including tires, chemicals, and auto parts. The company has a strong presence in South Korea and is a major player in the global market.
– Federal Corp ($TWSE:2102)
Federal Corp is a publicly traded company with a market capitalization of 8.5 billion as of 2022. The company has a negative return on equity of 13.91%. Federal Corp is engaged in the business of manufacturing and selling automotive parts and systems.
– PT Multistrada Arah Sarana Tbk ($IDX:MASA)
PT Multistrada Arah Sarana Tbk has a market cap of 18.64T as of 2022, a Return on Equity of 19.35%. The company is engaged in the manufacturing of passenger car radial tyres and motorcycle tyres in Indonesia. It also exports its products to over 60 countries worldwide.
Summary
Despite these positive results, the stock price fell the same day. This could be due to investors’ concerns about Fox Factory‘s outlook for the upcoming quarters, or other factors unrelated to their financial performance. In any case, investors should always conduct their own research when considering investing in any company.
