Stock Track | Acushnet Soars After Smashing Q3 Earnings Estimates, Raises Full-Year Outlook

Stock Track11-07

Shares of Acushnet Holdings Corp. (NYSE: GOLF), the maker of Titleist golf balls and clubs, soared 8.64% in pre-market trading on Wednesday after the company reported better-than-expected third-quarter earnings and raised its full-year guidance.

Acushnet reported Q3 2024 net income of $56.2 million, or $0.89 per diluted share, surpassing analysts' consensus estimate of $0.79 EPS. Revenue for the quarter came in at $620.5 million, marginally higher than the $620.4 million expected by Wall Street. The company's gross margin expanded by 2.4 percentage points year-over-year to 54.4%.

Looking ahead, Acushnet raised its full-year 2024 revenue outlook to a range of $2.45 billion to $2.5 billion, up from its previous guidance of $2.43 billion to $2.48 billion. The company now expects full-year adjusted EBITDA between $395 million and $405 million, compared to the prior range of $385 million to $400 million. Analysts on average were projecting fiscal 2024 revenue of $2.46 billion.

Acushnet, whose flagship brands include Titleist golf balls and clubs as well as FootJoy apparel, has benefited from steady demand for golf equipment and apparel. The company's revenues grew 4.6% year-over-year in Q3, driven by strong sales of Titleist golf balls and clubs. However, its FootJoy segment recorded a 4.1% decline in sales over the past two years.

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(NYSE: GOLF), the maker of Titleist golf balls and clubs, soared 8.64% in pre-market trading on Wednesday after the company reported better-than-expected third-...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GOLF","symbol_name":"高尔史密斯国际控股","start_time":0,"source_url":"","article_id":"1156975079","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1156975079","pubTimestamp":1730985266,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Acushnet Holdings Corp. , the maker of Titleist golf balls and clubs, soared 8.64% in pre-market trading on Wednesday after the company reported better-than-expected third-quarter earnings and raised its full-year guidance.Acushnet reported Q3 2024 net income of $56.2 million, or $0.89 per diluted share, surpassing analysts' consensus estimate of $0.79 EPS. 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