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Fiscal 2024 Guidance
For the first quarter of fiscal 2024, the Company expects net sales in the range of $315.0 million to $350.0 million and adjusted earnings per diluted share in the range of $0.17 to $0.27.
For the fiscal year 2024, the Company expects net sales in the range of $1.53 billion to $1.68 billion, adjusted earnings per diluted share in the range of $2.30 to $2.60, and a full year effective tax rate in the range of 15% to 18%.
Given our robust pipeline of innovative products, industry leading market share and best in class brands, we believe our product roadmap supports our 2025 vision of $2.0 billion in sales. However, our vision of $2.0 billion in sales and 25% Adjusted EBITDA margin will depend on several factors including uncertainties on volume, and product mix since we are largely tied to OEMs, the larger macro environment including interest rates, and our exit rate in Q4 of this year.
Adjusted earnings per diluted share exclude the following items net of applicable tax: amortization of purchased intangibles, litigation and settlement-related expenses, acquisition and integration-related expenses, organizational restructuring expenses, and strategic transformation costs. A quantitative reconciliation of adjusted earnings per diluted share for the first quarter and full fiscal year 2024 is not available without unreasonable efforts because management cannot predict, with sufficient certainty, all of the elements necessary to provide such a reconciliation. For the same reasons, the Company is unable to address the probable significance of the unavailable information, which could be material to future results.
Posted In: FOXF
