Stock Story -
Golf equipment and apparel company Acushnet (NYSE:GOLF) will be reporting results tomorrow before the bell. Here's what you need to know.
Acushnet beat analysts' revenue expectations by 2.7% last quarter, reporting revenues of $707.6 million, up 3.1% year on year. It was a decent quarter for the company, with a narrow beat of analysts' earnings estimates.
Is Acushnet a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Acushnet's revenue to grow 3% year on year to $709.8 million, slowing from the 4.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.18 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Acushnet has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 5.3% on average.
Looking at Acushnet's peers in the leisure products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Harley-Davidson delivered year-on-year revenue growth of 12%, beating analysts' expectations by 27.2%, and Clarus reported a revenue decline of 2.5%, falling short of estimates by 4.8%. Harley-Davidson traded up 8.7% following the results while Clarus was down 13.9%.
Read the full analysis of Harley-Davidson's and Clarus's results on StockStory.
There has been positive sentiment among investors in the leisure products segment, with share prices up 3.3% on average over the last month. Acushnet is up 12.3% during the same time and is heading into earnings with an average analyst price target of $71 (compared to the current share price of $69.34).
![Acushnet (GOLF) Q2 Earnings Report Preview: What To Look For](https://d68-invdn-com.investing.com/content/piccf047a295d072316a6222c21fcbf732c.jpeg)