FAIRHAVEN, Mass. - Acushnet Holdings Corp . (NYSE: NYSE:GOLF), a leading golf equipment and apparel company, reported a strong first quarter for 2024, exceeding analyst expectations.
The company announced an adjusted earnings per share (EPS) of $1.35, surpassing the analyst estimate of $1.23. Acushnet's revenue for the quarter was equally impressive, coming in at $707.55 million, which was above the consensus estimate of $691.57 million.
The company's performance in the first quarter marks a positive start to the year. Acushnet attributes its success to the continued demand for its high-quality golf products, including the iconic Titleist golf balls and FootJoy golf wearables. With a longstanding reputation for excellence in the golf industry, the company's results reflect its commitment to being a performance and quality leader in every golf product category.
Looking forward to the full year, Acushnet provided guidance for FY2024 revenue to be in the range of $2.45 to $2.5 billion, with the midpoint of $2.475 billion slightly above the analyst consensus of $2.47 billion. Adjusted EBITDA is expected to be approximately $385 to $405 million. This guidance suggests that Acushnet remains confident in its market position and anticipates continued growth throughout the year.
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