GOLF - Acushnet swings to earnings beat affirms guidance

Acushnet Holdings (NYSE:GOLF) drove to strong earnings in the first quarter and offered an encouraging earnings approach for the full year. The Fairhaven, Massachusetts-based leisure product company reported EPS of $1.10, which was $0.30 above estimates. Meanwhile, revenue of $606.1 million beat expectations by $34.9 million. CEO David Maher added that growth in the FootJoy and Titleist brands led the strong figures for the quarter. Moving forward, the company also affirmed its full year outlook to be in line with the analyst consensus as net sales are set to in the range of 3.8% to 6.1%. Maher indicated that the expectation of healthier supply chain dynamics should help lift results for the remainder of the year. “We believe the golf industry is structurally healthy and are pleased with the initial response to our 2022 product offerings,” he said. “Looking forward, we are enthused by the game’s momentum as the golf

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Acushnet swings to earnings beat, affirms guidance