Fox Factory Holding Corp. (NASDAQ:FOXF), a leading manufacturer in the performance-defining products and systems space with annual revenues of $1.4 billion, reported the outcomes of its 2025 Annual Meeting of Stockholders which took place on May 9, 2025. According to InvestingPro analysis, the company currently trades below its Fair Value, presenting a potential opportunity for investors interested in the industrial sector. The meeting saw a high level of shareholder participation with over 90% of outstanding shares represented, providing a quorum for the proceedings. This high participation comes at a crucial time, as InvestingPro data shows the stock has experienced a significant decline of 55% over the past year, though analysts expect the company to return to profitability in 2025.
During the meeting, shareholders voted on several key proposals. The election of directors resulted in Thomas E. Duncan and Jean H. Hlay being elected as Class III directors for a three-year term ending at the 2028 Annual Meeting of Stockholders. Duncan was elected with 31,534,161 votes in favor and 1,076,628 withheld, while Hlay received 32,097,413 votes for and 513,376 withheld. Both elections also reported 5,130,292 broker non-votes.
Additionally, the appointment of Grant Thornton LLP as the company’s independent public accountants for fiscal year 2025 was ratified with a substantial majority, receiving 37,554,015 votes for, 178,319 against, and 8,747 abstentions.
The advisory vote on executive compensation, a measure that allows shareholders to express their opinion on the company’s executive pay practices, was also approved. The resolution received 21,709,089 votes in favor, 10,687,175 against, and 214,525 abstentions, along with 5,130,292 broker non-votes. Despite recent challenges, the company maintains strong fundamentals with a healthy current ratio of 3.18 and projected earnings per share of $1.89 for fiscal year 2025.
More detailed information regarding the proposals and their respective outcomes can be found in the company’s definitive proxy statement filed with the Securities and Exchange Commission on March 26, 2025. The company’s leadership and board of directors have taken due note of the shareholders’ votes and are expected to proceed in accordance with the results of the meeting. For investors seeking deeper insights, InvestingPro offers comprehensive analysis through its Pro Research Report, which includes detailed financial health scores, valuation metrics, and growth projections among the 8+ additional ProTips available for Fox Factory Holding Corp.
This report is based on the official company filings with the Securities and Exchange Commission.
In other recent news, Fox Factory Holding Corp reported its Q1 2025 earnings, showcasing a strong financial performance that exceeded market expectations. The company achieved net sales of $355 million, representing a 6.5% increase compared to the previous year. Adjusted earnings per share (EPS) were $0.23, surpassing the forecast of $0.2171. Fox Factory reaffirmed its full-year 2025 guidance, projecting sales between $1.385 billion and $1.485 billion, with adjusted EPS ranging from $1.60 to $2.60.
Fox Factory’s financial growth was driven by the expansion of its motorcycle business and new high-end product lines. The company maintained its gross margin at 30.9% and reported an adjusted net income of $9.8 million. Additionally, the firm is focusing on operational efficiency and strategic growth initiatives to navigate market challenges, including tariffs and supply chain disruptions. Analysts from firms like Stifel have noted the company’s resilience amid these challenges.
Fox Factory also highlighted its efforts in cost optimization, expecting $25 million in savings across general and administrative expenses and cost of goods sold in 2025. The company is actively working on mitigating the impacts of tariffs, estimated to affect 5% of its cost of goods sold.
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