As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at leisure products stocks, starting with Acushnet (NYSE:GOLF).
Leisure products cover a wide range of goods in the consumer discretionary sector. Maintaining a strong brand is key to success, and those who differentiate themselves will enjoy customer loyalty and pricing power while those who don’t may find themselves in precarious positions due to the non-essential nature of their offerings.
The 16 leisure products stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 4.3%. while next quarter's revenue guidance was 3.5% below consensus. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, and while some of the leisure products stocks have fared somewhat better than others, they collectively declined, with share prices falling 2.4% on average since the previous earnings results.
Acushnet (NYSE:GOLF) Producer of the acclaimed Titleist Pro V1 golf ball, Acushnet (NYSE:GOLF) is a design and manufacturing company specializing in performance-driven golf products.
Acushnet reported revenues of $707.6 million, up 3.1% year on year, exceeding analysts' expectations by 2.7%. Overall, it was a decent quarter for the company with a narrow beat of analysts' earnings estimates but a miss of analysts' Titleist Balls revenue estimates.
The stock is down 3.5% since reporting and currently trades at $60.91.
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Best Q1: Harley-Davidson (NYSE:HOG) Founded in 1903, Harley-Davidson (NYSE:HOG) is an American motorcycle manufacturer known for its heavyweight motorcycles designed for cruising on highways.
Harley-Davidson reported revenues of $1.73 billion, down 3.3% year on year, outperforming analysts' expectations by 28.4%. It was an impressive quarter for the company with a decent beat of analysts' earnings and motorcycles sold estimates.
Harley-Davidson delivered the biggest analyst estimates beat among its peers. Although it had a great quarter compared its peers, the market seems unhappy with the results as the stock is down 17.6% since reporting. It currently trades at $32.49.
Weakest Q1: Ruger (NYSE:RGR) Founded in 1949, Ruger (NYSE:RGR) is an American manufacturer of firearms for the commercial sporting market.
Ruger reported revenues of $136.8 million, down 8.5% year on year, falling short of analysts' expectations by 10.8%. It was a weak quarter for the company with some shareholders hoping for a better result.
Ruger posted the weakest performance against analyst estimates in the group. As expected, the stock is down 11.5% since the results and currently trades at $41.
American Outdoor Brands (NASDAQ:AOUT) Spun off from Smith and Wesson in 2020, American Outdoor Brands (NASDAQ:AOUT) is an outdoor and recreational products company that offers firearms and firearm accessories.
American Outdoor Brands reported revenues of $46.3 million, up 9.7% year on year, surpassing analysts' expectations by 7.3%. Zooming out, it was a mixed quarter for the company, with EPS falling below analysts' estimates.
The stock is down 4.6% since reporting and currently trades at $8.41.
Solo Brands (NYSE:DTC) Started through a Kickstarter campaign, Solo Brands (NYSE:DTC) is a provider of outdoor and recreational products.
Solo Brands reported revenues of $85.32 million, down 3.3% year on year, surpassing analysts' expectations by 9.4%. More broadly, it was a very strong quarter for the company with an impressive beat of analysts' earnings estimates and full-year revenue guidance beating analysts' expectations.
The stock is up 7.1% since reporting and currently trades at $2.11.
This content was originally published on Stock Story
