Fox Factory falls on lowered annual and Q3 sales forecast; CEO exits
FOXF•Fox Factory shares fell 23% premarket after the company cut its FY26 net sales forecast to $1.35 billion-$1.38 billion from $1.42 billion-$1.47 billion, and its Q3 outlook to $336 million-$340 million from $355 million-$380 million. CEO Mike Dennison will step down, with Douglas Grimm named interim CEO.
1. Lower sales outlook
Fox Factory lowered its FY26 net sales forecast to $1.35 billion-$1.38 billion, from $1.42 billion-$1.47 billion. It also cut its Q3 net sales outlook to $336 million-$340 million, from $355 million-$380 million.
2. CEO transition
The company said CEO Mike Dennison will step down and appointed Douglas Grimm as interim CEO. Fox Factory shares fell 23% to $14.20 in premarket trading.
