Titleist and FootJoy parent has adjusted upwards its outlook for the full year 2021. The company said it expects sales to be in the range of $1.79 billion to $1.87 billion – up approximately 14 percent at the midpoint compared to 2020.
Acushnet reported Q1 sales of $581 million and earnings of $85 million, each up significantly from Q1 of 2020 when the Covid-19 pandemic was beginning to impact businesses across the country.
“Of course, these expectations assume no significant worsening of the impact of the COVID-19 pandemic including additional significant incremental closures of global markets and additional supply chain disruptions,” said Tom Pacheco, Acushnet’s Chief Financial Officer.
“With a very strong first quarter and the second quarter, which we expect to be about 75 percent to 80 percent higher than 2020.
“We project very healthy first half sales gains as compared to both 2020 and 2019.”
Acushnet’s second half sales in 2021 are expected to be lower than 2020, primarily due the impact of COVID-19 pandemic that saw an artificial surge in sales in the back half of 2020 when golf courses and pro shops re-opened en masse after being shuttered for months due to the crisis.