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Article Date: August 2021
Word Count: 445

Acushnet Ups 2021 Targets as Demand Soars


The bottom line increased to $81,085,000 in the second quarter from $2,313,000 last year, as sales more than doubled to $624,850,000 from $300,002,000, handily beating 2019’s net income and revenue by 111% and 35%, respectively. Gross margin improved 140 basis points to 53.5% in the face of higher inbound freight costs. SG&A leveraged 990 b.p. on the higher sales despite additional spending across the board compared to last year’s shutdowns. Inventory was 16% lower at $300.3 million, down double-digits in every category. CapEx was $12.4 million, but will accelerate in H2 to a full year target of $45 to $50 ... Log in to view full article.

 


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