Reported Earlier, Fox Factory Lowered FY24 Outlook For Net Sales To $1.341B-$1.381B (Vs. $1.435B Est.) From $1.407B-$1.477B Prior, Adjusted EPS To $1.27 -$1.42 (Vs. Cons. $1.57) From $1.40-$1.72
Portfolio Pulse from Benzinga Newsdesk
Fox Factory has lowered its fiscal year 2024 outlook for net sales and adjusted EPS. The company now expects net sales between $1.341 billion and $1.381 billion, down from the previous estimate of $1.407 billion to $1.477 billion. Adjusted EPS is now expected to be between $1.27 and $1.42, compared to the previous range of $1.40 to $1.72.
November 01, 2024 | 10:58 am
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NEGATIVE IMPACT
Fox Factory has revised its FY24 financial outlook downward, reducing expected net sales and adjusted EPS. This adjustment may negatively impact investor sentiment and the stock price in the short term.
The downward revision in both net sales and adjusted EPS indicates potential challenges in Fox Factory's business environment or operations. This is likely to lead to negative investor sentiment, causing a short-term decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100