04:06 AM EDT, 11/01/2024 (MT Newswires) -- Fox Factory Holding ( FOXF ) reported fiscal Q3 adjusted net income late Thursday of $0.35 per diluted share, down from $1.05 a year earlier.

Analysts polled by Capital IQ expected $0.42.

Net sales for the quarter ended Sept. 27 were $359.1 million, up from $331.1 million a year earlier.

Analysts surveyed by Capital IQ expected $366.9 million.

For fiscal Q4, the firm expects adjusted earnings of $0.25 to $0.40 per diluted share on net sales of $300 million to $340 million. Analysts polled by Capital IQ expect earnings of $0.49 per share on revenue of $368.8 million.

For fiscal year 2024, the company lowered its outlook and now expects adjusted earnings of $1.27 to $1.42 per diluted share on net sales of $1.34 billion to $1.38 billion, compared with its previous projection of $1.40 to $1.72 per share on net sales of $1.41 billion to $1.48 billion. Analysts polled by Capital IQ expect earnings of $1.57 per share on revenue of $1.42 billion.

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