Fox Factory Holding: 3Q Earnings Snapshot
BRASELTON, Ga. (AP) _ Fox Factory Holding Corp. (FOXF) on Wednesday reported third-quarter net income of $29.5 million.
On a per-share basis, the Braselton, Georgia-based company said it had net income of 75 cents. Earnings, adjusted for one-time gains and costs, were 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.
The vehicle suspension maker posted revenue of $211.3 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $206.8 million.
For the current quarter ending in December, Fox Factory Holding expects its per-share earnings to range from 57 cents to 62 cents.
The company said it expects revenue in the range of $175 million to $181 million for the fiscal fourth quarter.
Fox Factory Holding expects full-year earnings in the range of $2.64 to $2.69 per share, with revenue ranging from $740 million to $746 million.
Fox Factory Holding shares have increased almost 9% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $63.98, an increase of 24% in the last 12 months.