Fox Factory Holding (FOXF) Tops Q4 EPS by 3c, Revenues Beat; Offers FY20 EPS/Revenue Guidance Above Consensus, Provides Q1 EPS/Revenue Views
Fox Factory Holding (NASDAQ: FOXF) reported Q4 EPS of $0.65, $0.03 better than the analyst estimate of $0.62. Revenue for the quarter came in at $185.9 million versus the consensus estimate of $180.34 million.
Fourth Quarter Fiscal 2019 Highlights
- Sales increased 18.5% to $185.9 million compared to $156.8 million in the same period last fiscal year
- Gross margin decreased 40 basis points to 32.1% compared to 32.5% in the same period last fiscal year
- Net income attributable to FOX stockholders was $22.5 million, or 12.1% of sales and $0.58 of earnings per diluted share, compared to $20.1 million, or 12.8% of sales and $0.52 of earnings per diluted share in the same period last fiscal year
- Non-GAAP adjusted net income was $25.4 million, or $0.65 of adjusted earnings per diluted share, compared to $22.5 million, or $0.58 of adjusted earnings per diluted share in the same period last fiscal year
- Adjusted EBITDA was $34.4 million, or 18.5% of sales, compared to $29.8 million, or 19.0% of sales in the same period last fiscal year
“We are pleased with our strong finish to fiscal 2019 from both our Powered Vehicles and Specialty Sports Groups. Our solid growth enabled us to generate record annual sales and profitability above our expectations,” commented Mike Dennison, FOX’s Chief Executive Officer. “We believe we are entering fiscal 2020 with solid business momentum and are excited about the growth opportunities ahead of us with our diversified product offerings and differentiated market position. We remain on track to complete our previously announced acquisition of SCA late in the first quarter of fiscal 2020.”
GUIDANCE:
Fox Factory Holding sees Q1 2020 EPS of $0.55-$0.60, versus the consensus of $0.58. Fox Factory Holding sees Q1 2020 revenue of $182-190 million, versus the consensus of $180.31 million.
Fox Factory Holding sees FY2020 EPS of $3.00-$3.10, versus the consensus of $2.97. Fox Factory Holding sees FY2020 revenue of $881-906 million, versus the consensus of $844.71 million.
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