Fox Factory Hldg Q1 2024 Adj EPS $0.29 Beats $0.19 Estimate, Sales $333.50M Beat $327.58M Estimate
Portfolio Pulse from Benzinga Newsdesk
Fox Factory Holding (FOXF) reported Q1 2024 adjusted EPS of $0.29, surpassing the $0.19 estimate, with sales of $333.50M exceeding the $327.58M forecast. However, this represents a 16.59% decrease in sales compared to the same period last year.

May 02, 2024 | 8:07 pm
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Fox Factory Holding reported higher than expected Q1 2024 earnings and sales, but with a notable decrease in sales compared to last year.
The positive earnings and sales beat are likely to have a favorable impact on FOXF's stock price in the short term, despite the year-over-year decrease in sales. Investors typically respond well to earnings surpassing estimates, which can drive short-term price appreciation. However, the significant sales decline year-over-year might raise concerns about long-term growth, potentially moderating the positive impact.
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