Stock Track | Acushnet Holdings Plummets 5.11% Intraday as FY Revenue Outlook Disappoints

Stock Track08-06 23:56

Acushnet Holdings Corp. shares tumbled 5.11% intraday, reversing earlier gains after the company released its second-quarter results and full-year guidance.

The golf equipment maker reported quarterly adjusted earnings of $2.08 per share, significantly exceeding the consensus estimate of $1.63, while revenue jumped 13.8% to $819.95 million, also topping the $788.24 million analysts had expected.

However, the company's full-year revenue forecast of $2.65 billion to $2.675 billion fell short of the $2.675 billion consensus estimate, with the midpoint landing below Wall Street expectations. This cautious outlook overshadowed the strong quarterly beat and triggered the sharp sell-off.

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