Golf equipment and apparel company Acushnet (NYSE:GOLF) will be reporting results this Wednesday before market hours. Here’s what investors should know.
Acushnet beat analysts’ revenue expectations last quarter, reporting revenues of $477.2 million, up 7.2% year on year. It was a mixed quarter for the company, with a solid beat of analysts’ revenue 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 2.8% year on year, improving from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to 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 segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Brunswick delivered year-on-year revenue growth of 12.8%, beating analysts’ expectations by 4.1%, and Rush Street Interactive reported revenues up 41.1%, topping estimates by 11.3%. Brunswick’s stock price was unchanged after the results while Rush Street Interactive was up 16.6%.
Read our full analysis of Brunswick’s results here and Rush Street Interactive’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 4.4% on average over the last month. Acushnet is down 1.6% during the same time and is heading into earnings with an average analyst price target of $99.67 (compared to the current share price of $93.42).
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