Fox Factory announces CEO exit, slashes FY guidance. October 16, 2026 Fox Factory Holding Corp. reported that Mike Dennison stepped down from his role as CEO and a member of the Board, with independent director Doug Grimm taking over as interim CEO. The company also significantly reduced its earnings guidance for the year. The exit of Dennison, who has been CEO for the last seven years, comes as the firm has struggled in recent years as the bike channel has faced a prolonged channel destocking after an inventory build-up during the pandemic and its Powered Vehicles Group (PVG) business has faced continuous supply chain interruptions and chassis availability delays from major automakers. The company also recently recorded a huge loss on the sale of Marucci Sports. Its suspension and cycling brands include FOX (formerly Fox Racing Shox), Marzocchi, Race Face and Easton Cycling. Fox Factory said its Board has retained Heidrick & Struggles, the executive search firm, to assist in identifying a permanent CEO. The search will be led by Chair Jean Hlay and directors Tom Duncan and Grimm. Grimm, who is not a candidate for the permanent CEO role, will step down from the Audit Committee, but will remain on the Board and continue to serve on the transformation committee. Alan Bazaar will succeed Grimm as chair of the audit committee. The company's leadership team, including Chief Financial Officer Dennis Schemm, who leads the company's profit optimization program, will continue to drive customer-led product innovation and growth. Grimm has more than 40 years of experience in the automotive and industrial tech sectors, including as president and chief operating officer of Metaldyne Performance Group Inc., an automotive metals supplier with 60 manufacturing plants in 13 countries; as chairman of Electrical Components International (ECI), a manufacturer of electrical distribution systems; and as founder, chairman and CEO of Grede Holdings LLC, a manufacturer of safety-critical iron castings. Fox Factory said that over his career, he led business transformations, integrations and more than 40 transactions. "Doug is an accomplished executive with more than four decades of operating experience in the automotive and industrial sectors, and we are confident he is the right interim leader to accelerate execution in our businesses," said Jean Hlay, chair of the Board. "He has not only led multiple, successful transformations but also brings a deep understanding of our company's heritage and the operational improvements we are executing on to reach our full potential. The Board and I look forward to working with him in this new capacity while we conduct a rigorous search for a permanent leader." "FOX has earned its place as a leader in the powered vehicle and bike markets through an unwavering commitment to innovating performance-defining products for professional athletes and enthusiasts," said Grimm. "It is an honor to serve as Interim CEO at this important moment in FOX's trajectory. Through my work on the Transformation Committee, I have seen firsthand how FOX's talented team is actively working to deliver the best products and improve our financial position. I look forward to working closely with Dennis and our leadership team to execute on our strategy and advance a culture of excellence that our customers rely on." "On behalf of the Board, I also want to thank Mike for his many contributions to FOX over the last seven years," added Hlay. "Mike helped build FOX into a precision engineering company with strong brands and great products. His focus on engineering and innovation earned the loyalty of our OEM partners, athletes and enthusiasts who depend on our products." "It has been a privilege to lead FOX since 2019 and navigate periods of significant change in partnership with such a talented team," said Dennison. "I am proud of what we accomplished together and look forward to supporting Doug and the team through the transition." Preliminary Third Quarter Fiscal 2026 Results Based on preliminary unaudited information, the company expects to report the following for the third quarter of fiscal 2026 ended October 2, 2026: * Net sales of $336 million to $340 million, compared to guidance of $355 million to $380 million. Net sales include approximately $33 million from Marucci Sports through the September 25, 2026 closing of the divestiture, compared to approximately $46 million assumed in guidance for the full quarter. * Adjusted EBITDA of $38 million to $42 million, excluding approximately $12 million of IEEPA tariff refunds received in the quarter, compared to guidance of $46 million to $54 million, which did not include any tariff refunds. Third quarter results were below the company's expectations, primarily due to lower sales and margin at Marucci Sports, which did not deliver to expectations prior to the closing; lower than expected sales and margins in the Powered Vehicles Group driven by a supply disruption and the associated higher operating costs, and unfavorable mix; operating challenges within the Aftermarket Applications Group in its upfit business; and to a lesser extent, softer than expected bike sales in the Specialty Sports Group. Fox Factory said the preliminary results above are based on information available to the company as of the date of this release and are subject to completion of the company's quarter-end financial close procedures. Fourth Quarter and Fiscal 2026 Outlook The company is also lowering its outlook for the fourth quarter of fiscal 2026: * Net sales of $287 million to $313 million, in line with prior underlying guidance for its remaining core businesses, excluding Marucci Sports. * Adjusted EBITDA of $23 million to $29 million, excluding Marucci Sports. Relative to prior implied assumptions for the fourth quarter, the updated adjusted EBITDA assumption reflects the divestiture of Marucci Sports, a continuation of the supply disruption and higher than anticipated inflation in steel, aluminum and freight costs in the Powered Vehicles Group, and within the Aftermarket Applications Group lower chassis availability and continued operational challenges in the upfit business; at the segment level, adjusted EBITDA margin for the Powered Vehicles Group and Aftermarket Applications Group is expected to be approximately flat versus the fourth quarter of 2025. The company is lowering its fiscal 2026 outlook to reflect preliminary third-quarter results, the divestiture of Marucci Sports on September 25, 2026, and updated expectations for the fourth quarter. For fiscal 2026, the company now expects: * Net sales of $1.35 billion to $1.38 billion, compared to prior guidance of $1.42 billion to $1.47 billion. Approximately $63 million of the reduction reflects Marucci Sports, including approximately $50 million of fourth quarter net sales included in prior guidance. * Adjusted EBITDA of $140 million to $150 million, excluding approximately $14 million of IEEPA tariff refunds received in the second and third quarters, compared to prior guidance of $176 million to $196 million. * Adjusted EBITDA, including IEEPA tariff refunds, in the range of $154 million to $164 million. Fox Factory said the outlook reflects input costs at current levels, including the aluminum, steel and freight inflation described above, and assumes no further increases. The company has received the majority of the IEEPA tariff refunds it expects, and the outlook does not include any additional refunds. Image courtesy Fox Factory

Fox Factory is building a Direct Connection Ram TRX SRT and it looks wild. Ram performance is not slowing down, and the latest development proves it. Fox Factory is now working on a Direct Connection version of the Ram TRX SRT, taking one of the most aggressive off road trucks ever built and pushing it even further. This is not just another aftermarket build. It is part of the growing Direct Connection program, where factory backed performance meets custom level execution. What Fox Factory is creating here feels like a glimpse into the future of high performance Mopar trucks. A 777 horsepower starting point. The foundation of this build is already extreme. The 2027 Ram TRX SRT returns with a supercharged 6.2 liter HEMI V8 producing 777 horsepower and 680 pound feet of torque. That alone makes it one of the most powerful gas powered off road trucks ever offered. It also marks the return of serious V8 performance to the Ram lineup, something enthusiasts have been waiting to see again. Fox Factory is not starting from scratch. They are taking an already dominant platform and refining it through Direct Connection upgrades that focus on both performance and visual impact. Built through Direct Connection. Direct Connection has quickly become the go to channel for Mopar backed performance parts and builds. Instead of relying only on independent aftermarket companies, Ram is now working directly with partners like Fox Factory to create complete packages that feel closer to factory engineered performance vehicles. This TRX SRT concept was shown during Stellantis SRT Day, where Fox Factory revealed that the truck is expected to move toward production in a form very similar to what was displayed. That is important because it means this is not just a one off show truck. There is real potential for customers to eventually buy something very close to this build through authorized dealers. A more refined but aggressive look. Fox Factory gave the TRX SRT a unique visual identity that separates it from the standard truck without losing its aggressive attitude. The concept features a two tone Bright White and Diamond Black exterior. The darker lower half helps visually lower the truck while keeping the upper body clean and bold. Up front, the familiar grille design remains, but details have been toned down with a graphite finish instead of bright accents. The grille surround is now body colored, which gives the truck a more premium and refined appearance while still looking tough. Lighting is another major upgrade. The truck is equipped with a full Baja Designs setup, including powerful LED pods near the grille, additional lighting near the A pillars, and upgraded reverse lighting. Performance and capability still come first. While the styling stands out, the purpose of this build is still performance. Fox Factory is known for suspension and off road capability, so expectations are high for how this truck will perform once final specs are released. Even without full details yet, it is clear this TRX SRT Direct Connection build is designed to go beyond stock capability. Between the supercharged power, expected suspension upgrades and added lighting for serious off road use, this truck is aimed at enthusiasts who want more than factory performance. Fox Factory has already proven what it can do with previous builds like the DC650, so applying that experience to a 777 horsepower TRX platform could result in something truly next level. Production plans are taking shape. One of the most exciting parts of this reveal is that Fox Factory has indicated this concept is very close to production intent. Some final details are still being worked out, but the overall design and direction are expected to carry over. Pricing and release timing have not been announced yet, but if this truck makes it to market, it will likely become one of the most desirable Direct Connection builds available. A new era for Mopar performance trucks. The Direct Connection Ram TRX SRT represents something bigger than just one truck. It shows how Mopar is evolving performance in a modern era. Instead of relying only on traditional factory trims, Ram is blending factory engineering with high end aftermarket partners to create vehicles that feel exclusive, powerful and purpose built. For Mopar fans, this is exactly the kind of direction that keeps things exciting. A supercharged V8 truck with 777 horsepower was already impressive. Adding Fox Factory tuning and Direct Connection backing turns it into something even more special. If this build reaches production as expected, it could easily become one of the most talked about performance trucks in years. My name is James and I'm an editor with a strong passion for Mopar's, classic muscle, and automotive culture. I specialize in writing engaging industry news, auction coverage, and enthusiast focused features.

Fox Factory reported second-quarter 2026 revenue of $358.1 million, down 4.5% year-over-year but at the high end of guidance. Adjusted EBITDA reached $45.5 million, approximately $5 million above the top of its guided range. The company raised its full-year sales outlook whilst maintaining its $50 million cost-savings target. It captured over $25 million in gross savings during the first half. However, incremental input-cost inflation is running nearly $20 million above plan, driven by tariffs, commodities, freight and fuel costs. Chief Financial Officer Dennis Schemm said about $15 million of additional pressure is expected in the second half. Gross margin fell to 30.6% from 31.2% year-over-year. The company expects margin expansion in the second half as cost savings increase and pricing initiatives advance.