Fox Factory's Second-quarter Sales Of 2022 Set A Record

Suspension specialist Fox Factory saw a significant increase in sales and profits in the second quarter of 2022, up 24% year-over-year to $407 million and gross profit up nearly 29% to $143 million. And set a quarterly record for revenue in Fox's history.

Revenue for the first six months of 2022 was $785 million, a 29% increase over the first six months of fiscal 2021. The cycling segment made a particular contribution to the increase in sales, with sales up 35 percent, while the motor vehicle segment increased sales by 24 percent. Specialty Sports Group's sales growth was driven by continued strong demand from the original equipment channel (ie, OEM customers).

Fox does not expect a return to normal single-digit growth until the fourth quarter.