Acushnet: 2Q Earnings Snapshot
FAIRHAVEN, Mass. (AP) _ Acushnet Holdings Corp. (GOLF) on Wednesday reported second-quarter net income of $38.5 million.
The Fairhaven, Massachusetts-based company said it had net income of 51 cents per share.
The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 59 cents per share.
The golf products maker posted revenue of $462.2 million in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $483.3 million.
Acushnet expects full-year revenue in the range of $1.66 billion to $1.69 billion.
Acushnet shares have climbed 18% since the beginning of the year. The stock has fallen 5% in the last 12 months.