Acushnet Q3 sales slightly miss estimates as weaker FootJoy volumes weigh

Overview

• Golf products maker's Q3 net sales down 1.3% yr/yr, a slight miss versus analyst expectations

• Q3 net income rose 1.4% yr/yr

• Adjusted EBITDA for Q3 fell 3.3% yr/yr

Outlook

• Company reaffirms full-year 2026 net sales guidance of $2.65 bln to $2.675 bln

• Company narrows 2026 Adjusted EBITDA guidance to $455 mln-$470 mln from $450 mln-$470 mln

• Company expects 2026 net sales to rise 3.3%-4.2% on constant currency basis

Result Drivers

• SEGMENT MIX - Lower sales in FootJoy golf wear and Golf gear, mainly from lower volumes, partly offset by higher sales in Titleist golf equipment and golf balls

• PRODUCT LAUNCHES - Higher volumes of new GTS drivers and fairways and higher prices for Pro V1 golf balls boosted Titleist equipment sales, partly offset by lower T-Series irons volumes

• US MARKET - Lower US sales mainly from declines in FootJoy golf wear and Golf gear, partly offset by gains in Titleist equipment

Company press release: Full Story

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the recreational products peer group is "buy."

• Wall Street's median 12-month price target for Acushnet Holdings Corp is $97.00, about 11% above its November 3 closing price of $87.41

• The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 25 three months ago

Reuters Recommended Reads

• Nov 3 - Latham Group's Q3 sales rise; narrows FY sales forecast

• Nov 3 - Vital Farms Q3 revenue misses estimates; cuts FY forecast

• Nov 3 - LGI Homes Q3 adjusted EPS beats on higher closings, cost controls

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)