Acushnet: 1Q Earnings Snapshot

Acushnet: 1Q Earnings Snapshot

Associated Press
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FAIRHAVEN, Mass. (AP) _ Acushnet Holdings Corp. (GOLF) on Wednesday reported first-quarter profit of $34.9 million.

The Fairhaven, Massachusetts-based company said it had profit of 46 cents per share.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The golf products maker posted revenue of $433.7 million in the period, which also missed Street forecasts. Seven analysts surveyed by Zacks expected $446.1 million.

Acushnet shares have increased 22% since the beginning of the year. The stock has increased 12% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GOLF at https://www.zacks.com/ap/GOLF

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