Acushnet Holdings Shares Surge to All-Time High Following 3Q Results

Dow Jones11-08

By Connor Hart

Shares of Titleist parent Acushnet Holdings hit an all-time high after the company reported higher-than-expected earnings, helped by increased sales of golf clubs and gear, and raised its full-year adjusted earnings outlook.

The stock was up 16% to $73.54 on Thursday, having retreated slightly from a high of $76.38 earlier in the day. Shares, which are on pace for their largest percent increase in more than three years, have gained 16% so far this year.

Before the bell, the company posted third-quarter net income of $56.2 million, or 89 cents a share, compared with $57.3 million, or 85 cents a share, a year earlier. Analysts surveyed by FactSet expected per-share earnings of 79 cents.

Revenue rose 4.6% to $620.5 million, in line with the estimates of analysts polled by FactSet.

Titleist golf club sales were up 18% from last year, as higher sales volumes of its GT drivers and fairways more than offset fewer sales of its T-Series irons. Sales of Titleist golf gear were up 12% year-over-year, primarily due to golfers buying more travel and golf bags, the company said.

Also on Thursday, Acushnet backed its full-year revenue outlook, expecting sales between $2.45 billion and $2.5 billion, the midpoint of which is slightly above the $2.46 billion that analysts polled by FactSet expect.

The company raised the floor or its adjusted earnings before interest, taxes, depreciation and amortization outlook by $10 million, to between $395 million and $405 million, the midpoint of which is in line with analyst expectations.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 07, 2024 13:23 ET (18:23 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481134497?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-08 02:23","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2481134497","market":"sh","top_or_hot":-1,"title":"Acushnet Holdings Shares Surge to All-Time High Following 3Q Results","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Connor Hart \n</p>\n<pre>\n \n</pre>\n<p>\n  Shares of Titleist parent Acushnet Holdings hit an all-time high after the company reported higher-than-expected earnings, helped by increased sales of golf clubs and gear, and raised its full-year adjusted earnings outlook. \n</p>\n<p>\n  The stock was up 16% to $73.54 on Thursday, having retreated slightly from a high of $76.38 earlier in the day. Shares, which are on pace for their largest percent increase in more than three years, have gained 16% so far this year. \n</p>\n<p>\n  Before the bell, the company posted third-quarter net income of $56.2 million, or 89 cents a share, compared with $57.3 million, or 85 cents a share, a year earlier. Analysts surveyed by FactSet expected per-share earnings of 79 cents. \n</p>\n<p>\n  Revenue rose 4.6% to $620.5 million, in line with the estimates of analysts polled by FactSet. \n</p>\n<p>\n  Titleist golf club sales were up 18% from last year, as higher sales volumes of its GT drivers and fairways more than offset fewer sales of its T-Series irons. Sales of Titleist golf gear were up 12% year-over-year, primarily due to golfers buying more travel and golf bags, the company said. \n</p>\n<p>\n  Also on Thursday, Acushnet backed its full-year revenue outlook, expecting sales between $2.45 billion and $2.5 billion, the midpoint of which is slightly above the $2.46 billion that analysts polled by FactSet expect. \n</p>\n<p>\n  The company raised the floor or its adjusted earnings before interest, taxes, depreciation and amortization outlook by $10 million, to between $395 million and $405 million, the midpoint of which is in line with analyst expectations. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 07, 2024 13:23 ET (18:23 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Acushnet Holdings Shares Surge to All-Time High Following 3Q Results</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAcushnet Holdings Shares Surge to All-Time High Following 3Q Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-08 02:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Connor Hart \n\n\n \n\n\n  Shares of Titleist parent Acushnet Holdings hit an all-time high after the company reported higher-than-expected earnings, helped by increased sales of golf clubs and gear, and...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">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":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481134497","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481134497","pubTimestamp":1731003780,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of Titleist parent Acushnet Holdings hit an all-time high after the company reported higher-than-expected earnings, helped by increased sales of golf clubs and gear, and raised its full-year adjusted earnings outlook.The stock was up 16% to $73.54 on Thursday, having retreated slightly from a high of $76.38 earlier in the day. Shares, which are on pace for their largest percent increase in more than three years, have gained 16% so far this year.Before the bell, the company posted third-quarter net income of $56.2 million, or 89 cents a share, compared with $57.3 million, or 85 cents a share, a year earlier. Analysts surveyed by FactSet expected per-share earnings of 79 cents.Titleist golf club sales were up 18% from last year, as higher sales volumes of its GT drivers and fairways more than offset fewer sales of its T-Series irons. Sales of Titleist golf gear were up 12% year-over-year, primarily due to golfers buying more travel and golf bags, the company said.Also on Thursday,","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GOLF":"高尔史密斯国际控股","BK4190":"消闲用品"},"translate_title":"Acushnet Holdings股价在第三季度业绩公布后飙升至历史新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GOLF":0.9},"content_text":"By Connor Hart \n\n\n \n\n\n  Shares of Titleist parent Acushnet Holdings hit an all-time high after the company reported higher-than-expected earnings, helped by increased sales of golf clubs and gear, and raised its full-year adjusted earnings outlook. \n\n\n  The stock was up 16% to $73.54 on Thursday, having retreated slightly from a high of $76.38 earlier in the day. Shares, which are on pace for their largest percent increase in more than three years, have gained 16% so far this year. \n\n\n  Before the bell, the company posted third-quarter net income of $56.2 million, or 89 cents a share, compared with $57.3 million, or 85 cents a share, a year earlier. Analysts surveyed by FactSet expected per-share earnings of 79 cents. \n\n\n  Revenue rose 4.6% to $620.5 million, in line with the estimates of analysts polled by FactSet. \n\n\n  Titleist golf club sales were up 18% from last year, as higher sales volumes of its GT drivers and fairways more than offset fewer sales of its T-Series irons. Sales of Titleist golf gear were up 12% year-over-year, primarily due to golfers buying more travel and golf bags, the company said. \n\n\n  Also on Thursday, Acushnet backed its full-year revenue outlook, expecting sales between $2.45 billion and $2.5 billion, the midpoint of which is slightly above the $2.46 billion that analysts polled by FactSet expect. \n\n\n  The company raised the floor or its adjusted earnings before interest, taxes, depreciation and amortization outlook by $10 million, to between $395 million and $405 million, the midpoint of which is in line with analyst expectations. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 07, 2024 13:23 ET (18:23 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481134497"}