Golf equipment and apparel company Acushnet (NYSE: GOLF) will be reporting results this Thursday before market hours. Here’s what to expect.
Acushnet beat analysts’ revenue expectations last quarter, reporting revenues of $753 million, up 7.1% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.
Is Acushnet a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Acushnet’s revenue to grow 9.1% year on year, improving from the 5.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Acushnet has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Acushnet’s peers in the consumer discretionary - leisure products segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Ruger delivered year-on-year revenue growth of 19.3%, beating analysts’ expectations by 23%, and Harley-Davidson reported a revenue decline of 5.9%, topping estimates by 5.4%. Ruger traded up 3.3% following the results while Harley-Davidson was down 7.7%.
Read our full analysis of Ruger’s results here and Harley-Davidson’s results here.
Investors in the consumer discretionary - leisure products segment have had steady hands going into earnings, with share prices up 1.2% on average over the last month. Acushnet is down 12.9% during the same time and is heading into earnings with an average analyst price target of $100.40 (compared to the current share price of $102.13).
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