Acushnet (GOLF) Reports Earnings Tomorrow: What To Expect

Golf equipment and apparel company Acushnet (NYSE:GOLF) will be reporting results tomorrow before market hours. Here’s what to expect.

Acushnet missed analysts’ revenue expectations by 3.7% last quarter, reporting revenues of $683.9 million, flat year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations.

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 4.6% year on year to $620.4 million, slowing from the 6.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.83 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 twice over the last two years.

Looking at Acushnet’s peers in the leisure products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Malibu Boats’s revenues decreased 32.9% year on year, beating analysts’ expectations by 2.6%, and Latham reported a revenue decline of 6.4%, falling short of estimates by 1.1%. Malibu Boats traded up 4.3% following the results.

Read our full analysis of Malibu Boats’s results here and Latham’s results here.

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’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $70.38 (compared to the current share price of $63.24).

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