SHOO - Acushnet Returns To Growth Despite FootJoy Weakness

2024-06-27 18:52:32 ET

Summary

• Acushnet Holdings Corp.'s growth resumed in Q1 after a weak end to Q4 with continued Titleist momentum.
• The FootJoy segment has recently been struggling, but the sales weakness seems to mainly be related to temporary conditions in the segment's markets.
• The valuation continues to fairly reflect Acushnet's continued moderate growth momentum.

Acushnet Holdings Corp. ( GOLF ), the golf equipment manufacturer best known for the Titleist branded golf balls and clubs, has started 2024 off with a return to growth in Q1 after a weak end to 2023. The FootJoy golf gear segment has continued to perform slowly recently due to weak end markets, though, pushing down Acushnet’s total growth performance during Titleist’s continued momentum....

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