By Will Feuer
Shares of Acushnet rose in morning trading after the Titleist parent reported higher sales and profit for the third quarter, a sign of sustained demand for golf equipment after a post-pandemic growth spurt.
The stock climbed 8% to $54.14. Shares are up almost 28% this year.
The company, which makes golf clubs, balls, clothes and more, reported third-quarter sales of $593.4 million, up 6.3% from last year and above the $568 million that analysts expected, according to FactSet.
The company’s quarterly profit of 85 cents a share also beat analysts’ forecasts for earnings of 55 cents a share.
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