Golf equipment and apparel company Acushnet (NYSE:GOLF) will be announcing earnings results tomorrow before market hours. Here’s what to look for.
Acushnet met analysts’ revenue expectations last quarter, reporting revenues of $620.5 million, up 4.6% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ EPS estimates.
Is Acushnet a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Acushnet’s revenue to grow 10.2% year on year to $454.9 million, a reversal from the 7.7% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.25 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Acushnet has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Acushnet’s peers in the leisure products segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Malibu Boats’s revenues decreased 5.1% year on year, beating analysts’ expectations by 4.8%, and Brunswick reported a revenue decline of 15.2%, topping estimates by 11.3%. Malibu Boats’s stock price was unchanged after the results, while Brunswick was down 1.1%.
Read our full analysis of Malibu Boats’s results here and Brunswick’s results here.
Inflation has progressed towards the Fed’s 2% goal as of late, leading to strong stock market performance. Recent rate cuts and the 2024 Presidential election's conclusion added further sparks to the market, and while some of the leisure products stocks have shown solid performance, the group has generally underperformed, with share prices down 3.4% on average over the last month. Acushnet’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $72.29 (compared to the current share price of $67.69).
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