Acushnet Raises Full-Year Outlook after Strong Q3

    • Acushnet raised its full-year guidance Thursday following the company's earnings report.
    • The Massachusetts-based company saw net sales reach $521.6 million.

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Acushnet — owner of golf product brands including Titleist, FootJoy, and Scotty Cameron — raised its full-year guidance Thursday following a third-quarter earnings report.

The Massachusetts-based company saw net sales reach $521.6 million in Q3 2021, an 8% increase year-over-year. Acushnet beat Wall Street estimates of $416.54 million in sales for the quarter.

The company reported a strong quarter despite supply chain disruptions across all its segments.

  • The results were driven by Acushnet’s FootJoy golf wear, which posted a $20.4 million increase in net sales in Q3, up 18.9% year-over-year due to higher pricing.
  • Its Titleist golf club segment reached double-digit growth, posting a $13.9 million bump in net sales for the quarter, a 12.3% uptick compared to Q3 2020.

Acushnet expects supply chain constraints to continue throughout the rest of the fiscal year and into 2022.

However, the company estimates full-year sales to range between $2.08 billion and $2.1 billion, up from a previous target of between $1.93 billion and $1.99 billion.