FAIRHAVEN, Mass. - Acushnet Holdings Corp . (NYSE:GOLF), a leading golf equipment and apparel manufacturer, reported its third quarter 2024 financial results on Thursday, surpassing earnings expectations while meeting revenue estimates.
The company, known for its Titleist and FootJoy brands, posted adjusted earnings per share (EPS) of $0.89 for the quarter, exceeding the analyst consensus of $0.79 by $0.10. Revenue for the period came in at $620.5 million, slightly above the analyst estimate of $620.4 million.
“Acushnet delivered solid third quarter results, with constant currency net sales up 5% and adjusted EBITDA up nearly 9%. Our golf equipment businesses led the way in the quarter, driven by the successful launch of new Titleist GT drivers and fairway metals and healthy demand for Titleist golf balls,” said David Maher, Acushnet’s President and Chief Executive Officer.
Mr. Maher continued, “Looking ahead, we are confident in reaffirming our full-year revenue outlook and narrowing our Adjusted EBITDA outlook toward the high end of our guidance. This reflects confidence in our team’s ability to execute and the resilience of Acushnet’s target consumer, the game’s dedicated golfer. I would like to thank the entire Acushnet team for their ongoing commitment to providing golfers with great product and service experiences and delivering long-term value for our shareholders.”
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