Fox Factory Holding Corp (FOXF)

Fox Factory Holding Corp. Stock (FOXF) dropped by 27.19% from $83.13 to $60.53 in the trading on Friday November 3, 2023. The reasons why FOXF stock down today include:

• Q3 earnings results: Fox Factory reported Q3 sales of only $331.1 million and $0.83 per share in net profits, missing expectations on both the top and bottom lines. Hurt badly by the effects of the autoworkers' strike, Fox saw a 19% slide in sales year over year and a 31% decline in per-share profits.
• Full-year sales guidance: Fox sees its 2023 sales of $1.43B - $1.47B, as compared to its previous outlook of $1.67B- $1.70B, and consensus of $1.56B. It sees its FY adjusted earnings per diluted share of the range of $4.20 to $4.45, as compared to consensus of $4.65.