For the quarter ended September 2024, Acushnet (GOLF) reported revenue of $620.5 million, up 4.6% over the same period last year. EPS came in at $0.89, compared to $0.85 in the year-ago quarter.The reported revenue represents a surprise of -0.34% over the Zacks Consensus Estimate of $622.63 million. With the consensus EPS estimate being $0.79, the EPS surprise was +12.66%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

Acushnet (GOLF) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.79 per share. This compares to earnings of $0.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 12.66%. A quarter ago, it was expected that this golf products maker would post earnings of $1.18 per share when it actually produced earnings of $1.11, delivering a surprise of -5.93%.Over the last four quarters, the com ...

Net Sales Performance - Third quarter net sales of $620.5 million, up 4.6% year over year, and up 5.0% in constant currency[1] - Year-to-date net sales of $2,011.9 million, up 2.2% year over year, and up 3.1% in constant currency[1] - Net sales for Q3 2024 increased to $620.5 million, up from $593.4 million in Q3 2023, representing a 4.6% growth[32] - Third quarter net sales for Titleist golf clubs increased by 18.2% to $213.9 million in 2024 compared to $181.0 million in 2023[37] - Third quarter net sales in the United States increased by 6.2% to $374.2 million in 2024 from $352.5 million in 2023[38] - Nine months net sales for Titleist golf balls increased by 3.8% to $646.0 million in 2024 from $622.1 million in 2023[39] - Nine months net sales in the United States increased by 6.9% to $1,201.0 million in 2024 from $1,123.8 million in 2023[40] Net Income and Profitability - Third quarter net income attributable to Acushnet Holdings Corp. of $56.2 million, down 1.9% year over year[1] - Net income attributable to Acushnet Holdings Corp. for Q3 2024 was $56.2 million, slightly down from $57.3 million in Q3 2023[32] - Net income for the nine months ended September 30, 2024, was $209.998 million, a decrease from $225.029 million in 2023[36] - Net income attributable to Acushnet Holdings Corp. for September 2024 was $56.224 million, compared to $57.307 million in September 2023[50] - Gross profit for Q3 2024 rose to $337.4 million, compared to $308.5 million in Q3 2023, a 9.4% increase[32] - Basic net income per common share for Q3 2024 was $0.89, compared to $0.86 in Q3 2023[31] Adjusted EBITDA and Margins - Third quarter Adjusted EBITDA of $107.4 million, up 8.7% year over year, with an Adjusted EBITDA margin of 17.3%[1][12] - Adjusted EBITDA for September 2024 was $107.394 million, an increase from $98.790 million in September 2023[50] - Adjusted EBITDA margin for September 2024 was 17.3%, up from 16.6% in September 2023[50] - Adjusted EBITDA for the nine months ended September 30, 2024, includes $7.0 million related to restructuring costs[49] - Adjusted EBITDA for the three and nine months ended September 30, 2024, includes $2.1 million and $8.0 million, respectively, related to IT system optimization[49] - Adjusted EBITDA margin is used by the company to evaluate business strategies and operating performance[48] Product-Specific Sales Performance - Titleist golf clubs net sales increased 18.2% (18.7% in constant currency) driven by higher sales volumes of newly introduced GT drivers and fairways[9] - Titleist golf gear net sales increased 8.2% (8.8% in constant currency) mainly due to higher sales volumes in travel and golf bag product categories[9] - FootJoy golf wear net sales decreased 2.6% (2.3% in constant currency) primarily due to lower sales volumes in footwear and apparel[10] Financial Guidance - Full-year 2024 consolidated net sales guidance reaffirmed at $2,450 to $2,500 million, with constant currency growth expected at 3.2% to 5.3%[22] - Full-year 2024 Adjusted EBITDA outlook narrowed to $395 to $405 million, compared to previous guidance of $385 to $405 million[22] Cash Flow and Financial Position - Cash, cash equivalents, and restricted cash increased to $99.1 million as of September 30, 2024, up from $65.4 million as of December 31, 2023[34] - Accounts receivable, net, grew to $367.5 million as of September 30, 2024, compared to $201.4 million as of December 31, 2023[34] - Inventories decreased to $497.5 million as of September 30, 2024, down from $615.5 million as of December 31, 2023[34] - Total assets increased to $2.28 billion as of September 30, 2024, up from $2.20 billion as of December 31, 2023[34] - Long-term debt rose to $708.0 million as of September 30, 2024, compared to $671.8 million as of December 31, 2023[34] - Cash flows provided by operating activities for the nine months ended September 30, 2024, were $246.228 million, down from $296.930 million in 2023[36] Expenses and Costs - Research and development expenses for Q3 2024 were $18.9 million, up from $16.2 million in Q3 2023, a 16.5% increase[32] - Interest expense, net for September 2024 was $13.187 million, compared to $9.389 million in September 2023[50] - Income tax expense for September 2024 was $13.198 million, up from $11.252 million in September 2023[50] - Depreciation and amortization for September 2024 was $13.965 million, compared to $12.807 million in September 2023[50] - Share-based compensation for September 2024 was $9.031 million, up from $5.305 million in September 2023[50] - Restructuring costs for September 2024 were $432 thousand, compared to a negative $10 thousand in September 2023[50] - Transformation costs for September 2024 were $2.655 million, slightly down from $2.848 million in September 2023[50] - Net loss attributable to noncontrolling interests for September 2024 was $949 thousand, compared to $261 thousand in September 2023[50] Share Repurchase - The company repurchased 1,080,560 shares of its common stock at an average price of $64.80 for an aggregate of $70.0 million during the quarter[21] Currency Impact - Constant currency net sales are used to evaluate sales performance without the impact of foreign exchange rate changes[42]

Wall Street analysts expect Acushnet (GOLF) to post quarterly earnings of $0.79 per share in its upcoming report, which indicates a year-over-year decline of 7.1%. Revenues are expected to be $622.63 million, up 4.9% from the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a company's earnings anno ...

CAMARILLO, CA, Oct. 28, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) ("NEWTON GOLF" or the "Company"), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, reports preliminary financial results for the third quarter of 2024 (three months ended September 30, 2024) ahead of its quarterly filing. Financial Highlights for Third Quarter 2024 Revenue of $1,150,000 – $1,250,000 in 3Q24, an increas ...

CAMARILLO, CA, Oct. 21, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces that Greg Campbell, Executive Chairman, will present a corporate overview at the LD Micro Main Event XVII. The conference is being held on October 28 – 30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles. Event: LD Micro ...

Newton Motion shafts now available in 50 of Japan's largest golf retailers and through GDO, the country's leading e-commerce platform CAMARILLO, CA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) ("NEWTON GOLF" or the "Company"), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces the launch of its Newton Motion shafts in Japan. Now available in 50 of the largest retail go ...

Two new flexes offer enhanced performance for elite golfers CAMARILLO, CA, Oct. 07, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) ("NEWTON GOLF" or the "Company"), a technology-forward golf company with a growing portfolio of golf products including putters, golf shafts, golf grips, and other golf-related accessories, announces the release of its latest innovation – the advanced Newton Motion shafts designed specifically for golfers with higher swing speeds. Building on the success of the orig ...

Gravity, the putter division of parent company NEWTON GOLF, introduces five putters in its new premium series CAMARILLO, CA, Sept. 25, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF, (Nasdaq: SPGC) ("NEWTON GOLF" or the "Company"), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, builds on its recent rebranding with the launch of three new putter models and two redesigned classics in its newly formed Gravity Pr ...

Acushnet Holdings Corp. (GOLF) is likely to benefit from strong demand, new product launches and operational improvements. However, elevated expenses are a concern. Factors Driving GOLF Stock Acushnet continues to benefit from the overall strength of the golf industry. The resurgence in golf participation post-pandemic has created a solid foundation for sustained growth. In the United States, rounds of golf were up 2% in the first half of the year, contributing to the company's 7% growth in the region. Heal ...