Golf equipment and apparel company Acushnet (NYSE:GOLF) will be reporting earnings this Thursday before market hours. Here’s what you need to know.
Acushnet beat analysts’ revenue expectations by 0.7% last quarter, reporting revenues of $703.4 million, flat year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EPS estimates but a miss of analysts’ Titleist Clubs revenue 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 4.7% year on year to $716.3 million, improving from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $1.38 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 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 Q2 results, giving us a hint as to what we can expect. Polaris’s revenues decreased 5.6% year on year, beating analysts’ expectations by 9.2%, and Brunswick reported flat revenue, topping estimates by 16.4%. Polaris traded up 17% following the results while Brunswick was down 6%.
Read our full analysis of Polaris’s results here and Brunswick’s results here.
Investors in the leisure products segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Acushnet is up 6.1% during the same time and is heading into earnings with an average analyst price target of $70.86 (compared to the current share price of $80.40).
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