FAIRHAVEN, Mass. - Acushnet Holdings Corp . (NYSE:GOLF), a leading golf products company, reported a fourth-quarter earnings miss and provided guidance that fell short of analyst expectations.
The company, known for its Titleist and FootJoy brands, announced a fourth-quarter adjusted EPS of -$0.41, which was slightly below the analyst estimate of -$0.38. Revenue for the quarter was also below expectations, coming in at $412.96 million compared to the consensus estimate of $429.32 million.
The company's stock experienced a marginal decline of 0.23% following the announcement. Acushnet's guidance for the full year 2024 forecasts revenue between $2.45 billion and $2.5 billion, with the midpoint at $2.475 billion, slightly above the consensus of $2.455 billion.
In their press release, Acushnet emphasized its longstanding mission to lead in performance and quality across all golf product categories. Despite the fourth-quarter results falling short of Wall Street's estimates, the company remains committed to maintaining its position as a top player in the golf industry.
The CEO or CFO of Acushnet, in a statement, reiterated their dedication to serving dedicated and discerning golfers and the golf shops that support them, underlining the company's focus on quality excellence and performance-driven products.
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