Acushnet Holdings reports Q3 EPS 85c, consensus 53c

Reports Q3 revenue $593.4M, consensus $565.28M. “Acushnet delivered another strong quarter of performance, with healthy revenue and adjusted EBITDA gains versus last year. Our golf club segment posted double digit growth in the quarter, driven by the successful launch of next generation T-Series irons, and our golf ball segment grew 6% in the period,” said CEO David Maher. “Our performance reflects the strength of Acushnet’s diversified portfolio and commitment to providing the game’s dedicated golfer with best-in-class products and services. Considering our third quarter results and expectations for Q4, we are reaffirming our full-year revenue outlook and narrowing our Adjusted EBITDA outlook toward the high end. This reflects continued strong demand for Acushnet’s products, underlying enthusiasm for the game of golf, and healthy fundamentals across the golf industry. Our outlook also reflects additional investments across our business as we look to build upon our momentum heading into 2024. I would like to thank my fellow associates for their great work throughout the year and their commitment to delivering long-term value for our shareholders.”