FAIRHAVEN, Mass. (AP) — FAIRHAVEN, Mass. (AP) — Acushnet Holdings Corp. (GOLF) on Tuesday reported first-quarter profit of $87.8 million.
The Fairhaven, Massachusetts-based company said it had profit of $1.35 per share. Earnings, adjusted for restructuring costs, came to $1.43 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The golf products maker posted revenue of $707.6 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $692.4 million.
Acushnet expects full-year revenue in the range of $2.45 billion to $2.5 billion.
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, source Associated Press News