Fox Factory Cp (FOXF) said after close Thursday that it earned $1.05 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $331.1 million, missing estimates by $67.2 million.
In the same quarter a year ago, the company earned $1.35 per share on revenue of $409.2 million.
The stock is down 37.00% to $52.38 after the report.
Fox Factory Cp's profit margins took a hit as earnings fell at a faster pace than revenues.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Fox Factory Cp a Bullish Sentiment Rank from InvestorsObserver.
Fox Factory Cp has performed a little below average during the past few months. Before the report, Fox Factory Cp received a Long-Term Technical Rank by InvestorsObserver of 42, putting it in the bottom half of stocks. The firm set a 52-week high on February 2, 2023 at $127.54 and set a 52-week low on November 3, 2022 at $76.84.
Fox Factory Holding Corp is a designer, manufacturer, and marketer of performance-defining products and systems used primarily on bikes, Side-by-Sides, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, ATVs, snowmobiles, specialty vehicles and applications, motorcycles, and commercial trucks. Its business operates under the FOX, FOX RACING SHOX, and RACE FACE brands. Geographically, it derives a majority of revenue from North Americas and also has a presence in Asia, Europe, and the Rest of the World.
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Fox Factory Cp Down 37.00% To $52.38 After Earnings Miss
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