Net income attributable to Acushnet Holdings Corp. dropped off 75% to $8,877,000 from $34,926,000 on 6% lower sales (-5% CC) of $408,741,000 down from $433,702,000. All segments were selling at or ahead of plan until mid-March, when the coronavirus pandemic hit the U.S. and Europe. GOLF declined to provide forward guidance, saying that Q2 results will be significantly impacted, but remains optimistic that opening golf courses across the U.S. will re-ignite demand. Despite sales and earnings coming in below expectations, the company’s shares traded flat after it reported.

Acushnet’s operations have seen disruptions from the pandemic on several levels. The Titleist ... Log in to view full article.