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- Acushnet Holdings Corp GOLF reported third-quarter FY21 sales growth of 8% year-on-year, to $521.6 million, beating the analyst consensus of $414.74 million.
- The gross profit rose 6.7% Y/Y to $268.8 million with a margin of 51.5%.
- The operating margin was 10.1%, and operating income for the quarter declined 38.4% to $52.5 million.
- Adjusted EBITDA of $70.3 million declined 29.1% Y/Y.
- EPS of $0.52 beat the analyst consensus of $0.15.
- Acushnet held $320.5 million in cash and equivalents as of September 30, 2021. Cash provided by operating activity totaled $280.1 million.
- "Looking ahead, we anticipate supply chain disruptions to continue throughout the fourth quarter and into 2022," said CEO David Maher.
- Acushnet's Board declared a quarterly cash dividend of $0.165 per share of common stock, payable on December 17, 2021, to shareholders of record on December 3, 2021.
- Outlook: Acushnet sees FY21 sales of $2.08 billion - $2.11 billion (prior view $1.93 billion - $1.99 billion) versus the consensus of $1.98 billion.
- The company expects FY21 adjusted EBITDA of $305 million - $325 million (prior view $285 million - $305 million).
- Price Action: GOLF shares traded higher by 1.92% at $55.76 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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