Fox Factory names interim CEO and cuts FY2026 outlook after weak Q3 preview
Fox Factory Holding Corp. announced that independent director Douglas Grimm will serve as interim chief executive officer while Mike Dennison steps down. The company disclosed preliminary third‑quarter fiscal 2026 net sales of $336 million to $340 million, below its own guidance. Adjusted EBITDA for the quarter is projected at $38 million to $42 million, excluding a $12 million tariff refund, also short of expectations. On the back of these results, Fox Factory lowered its full‑year sales and adjusted EBITDA forecasts.
Why it matters
The company said the reduced guidance will lower revenue and profit expectations for investors, as reflected in the share price decline. The interim leadership change adds uncertainty about execution of the turnaround plan.
Key facts
- 1Douglas Grimm, an independent director, was appointed interim chief executive officer on October 16, 2026. stocktitan.net
- 2Mike Dennison resigned as chief executive officer and left the board on the same date. stocktitan.net
- 3Preliminary net sales for the third quarter ended October 2, 2026 are expected to be between $336 million and $340 million. stocktitan.net
- 4The company’s prior guidance for that quarter was $355 million to $380 million in net sales. stocktitan.net
- 5Adjusted EBITDA for the quarter is forecast at $38 million to $42 million, not counting a $12 million tariff refund. investing.com
- 6Earlier guidance had called for adjusted EBITDA of $46 million to $54 million for the quarter. stocktitan.net
Summary written by AlphAI AI Desk from 7 of 7 sources. Not investment advice. Figures are as stated by the linked sources.