Fox Factory shares are trading lower after the company reported worse-than-expected Q3 financial results and issued Q4 adjusted EPS, Q4 net sales and FY23 net sales guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Fox Factory reported worse-than-expected Q3 financial results and issued Q4 adjusted EPS, Q4 net sales and FY23 net sales guidance below estimates, causing its shares to trade lower.
November 03, 2023 | 3:25 pm
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Fox Factory's shares are trading lower due to worse-than-expected Q3 results and lower Q4 and FY23 sales guidance.
Fox Factory's worse-than-expected Q3 results and lower future sales guidance are negative indicators for the company's financial health, which is likely causing investors to sell off their shares, leading to a decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
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