GOLF - Acushnet GAAP EPS of $1.36 beats by $0.27 revenue of $686.3M beats by $55.18M

2023-05-04 06:46:39 ET

• Acushnet press release ( NYSE: GOLF ): Q1 GAAP EPS of $1.36 beats by $0.27 .
• Revenue of $686.3M (+13.2% Y/Y) beats by $55.18M .
• Segment specifics:
  •17.2% increase in net sales (20.6% increase on a constant currency basis) of Titleist golf balls primarily due to higher sales volumes of our latest generation Pro V1 and Pro V1x golf balls launched in the first quarter of 2023.
  •12.4% increase in net sales (16.3% increase on a constant currency basis) of Titleist golf clubs primarily driven by higher sales volumes of our TSR drivers and fairways launched in the third quarter of 2022 and TSR hybrids launched in the first quarter of 2023. This increase was partially offset by lower sales volumes of second model year wedges.
  •51.9% increase in net sales (57.4% increase on a constant currency basis) of Titleist golf gear primarily due to higher sales volumes across all product categories reflecting improvements in supply chain and fulfillment constraints versus their impact in the first quarter of 2022.
  •3.9% increase in net sales (7.8% increase on a constant currency basis) in FootJoy golf wear primarily driven by increased sales volumes in apparel reflecting improvements in supply chain constraints.

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