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Press Release: Acushnet : Earnings Review and Free Research Report: Acushnet's Net Income Surged 22%

Research Desk Line-up: Cabela's Post Earnings CoverageLONDON, UK / ACCESSWIRE / August 30, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Acushnet Holdings Corp. (NYSE: GOLF) ("Acushnet"), which can be viewed by registering at, following the Company's announcement of its second quarter financial results on August 11, 2017. The golf products maker updated its outlook for 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at: more of our free earnings reports coverage from other constituents of the Sporting Goods Stores industry. Pro-TD has currently selected Cabela's Incorporated (NYSE: CAB) for due-diligence and potential coverage as the Company reported on August 03, 2017, its financial results for Q2 FY17. Register for a free membership today, and be among the early birds that get access to our report on Cabela's when we publish it.At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on GOLF; also brushing on CAB. With the links below you can directly download the report of your stock of interest free of charge at: ReviewedFor the three months ended June 30, 2017, Acushnet recorded net sales of $428.0 million, down 7.6% compared to net sales of $463.3 million in Q2 2016. The Company's sales declined 6.6% in a constant currency. Acushnet's net sales fell short of analysts' expectations of $463.7 millionAcushnet's consolidated net sales decline in the reported quarter was attributed to several factors, primarily in the United States. These factors include the ongoing effects of the reduced US store count and retail consolidation, unfavorable weather conditions, and promotional activity by competitors. The Company's consolidated net sales in the United States decreased by 8.5% in Q2 2017. Acushnet posted a y-o-y decline in net sales in regions outside the United States of 6.6%, down 4.5% on a constant currency basis, with Korea up 7.5%, offset by Japan down 13.4% and Europe, Middle-East, and Africa (EMEA) declining 3.4%.During Q2 2017, net income attributable to Acushnet had improved to $33.02 million, or $0.44 per diluted share, compared to net income of $27.06 million, or $0.39 per diluted share, in Q2 2016, primarily due to lower interest expense and other expense, partially offset by lower income from operations. The Company's net income lagged behind Wall Street's expectations of $0.55 per share.Acushnet's adjusted EBITDA was $71.8 million for Q2 2017, down 13.5% compared to adjusted EBITDA of $83.0 million in Q2 2016. The Company's adjusted EBITDA margin was 16.8% for the reported quarter versus 17.9% for the prior year's same period.Acushnet's Segment ResultsDuring Q2 2017, the Titleist golf balls' net sales totaled $154.96 million, down 6.6%, or 5.6% in a constant currency, as a result of a sales volume decline in both the ProV1 franchise and the performance models, the latter of which are in their second year of their two-year product life cycle.The Company's Titleist golf clubs' net sales were $93.34 million compared to net sales of $118.34 million in the year ago corresponding period, due to lower sales volumes, primarily in the iron series, Scotty Cameron Select putters, and Vokey Design wedges, all of which are in the second year of their two-year product lifecycle. This decrease was partially offset by an increase in average selling prices across all product categories, in particular the new 917 model drivers and fairways.The Titleist golf gear's net sales increased 5.6% to $47.30 million, or 6.3% on a constant currency, primarily due to higher average selling prices across all categories of the gear business. The Company's net sales from FootJoy golf wear declined 5.8% to $112.50 million, primarily due to a sales volume decline in the footwear and glove categories.Cash DividendAcushnet's Board of Directors declared a quarterly cash dividend in an amount of $0.12 per share of common stock. The dividend will be payable on September 15, 2017, to stockholders of record on September 01, 2017.OutlookFor FY17, Acushnet is forecasting consolidated net sales to be in the range of $1.545 billion to $1.565 billion. The Company's consolidated net sales, on a constant currency basis, are expected to be in the range of a decrease of 0.7% to an increase of 0.6% in 2017. Acushnet's adjusted EBITDA is expected to be in the range of $220 million to $230 million in 2017.Stock PerformanceAt the close of trading session on Tuesday, August 29, 2017, Acushnet's stock price slightly fell 0.95% to end the day at $16.76. A total volume of 249.28 thousand shares were exchanged during the session. The Company's shares are trading at a PE ratio of 28.80 and have a dividend yield of 2.86%. At Tuesday's closing price, the stock's net capitalization stands at $1.23 billion.Pro-Trader Daily:Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. 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Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.NOT AN OFFERINGThis document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:Email: [email protected] number: (917) 341.4653Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.SOURCE: Pro-Trader DailyReleaseID: 474157

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Acushnet designs, develops, manufactures and distributes golf products. Read more