Quarterly ResultMay 7, 2026, 04:21 PM
Fox Factory Q1 Net Sales +3.9% to $368.7M; Amends Credit Agreement
AI Summary
Fox Factory Holding Corp. reported first-quarter fiscal 2026 net sales increased 3.9% year-over-year to $368.7 million, reaching the high end of guidance. The company posted a net loss of $15.0 million, or $0.36 per diluted share, which included charges from the divestiture of its Phoenix, Arizona AAG operations. Adjusted earnings per diluted share were $0.18, down from $0.23 in the prior year. Concurrently, Fox Factory amended its credit agreement to enhance financial flexibility, expanding the net leverage covenant to 5.0x and adjusting interest margins and other covenants, while reaffirming its fiscal 2026 guidance.
Key Highlights
- Q1 fiscal 2026 net sales increased 3.9% to $368.7 million.
- Reported Q1 net loss of $15.0 million, or $0.36 per diluted share.
- Adjusted Q1 diluted EPS was $0.18, down from $0.23 year-over-year.
- Adjusted Q1 EBITDA was $35.7 million, exceeding guidance range.
- Amended credit agreement, expanding net leverage covenant to 5.0x.
- Completed divestiture of Phoenix, Arizona AAG operations for debt reduction.
- Reaffirmed fiscal 2026 net sales guidance of $1.328 billion to $1.416 billion.
- Powered Vehicles Group (PVG) net sales increased 17.4% to $143.4 million.