Shares of Acushnet Holdings Corp. (NYSE: GOLF), the maker of popular Titleist golf balls and clubs, surged as much as 9.56% in early trading on Wednesday after the company reported better-than-expected third-quarter earnings and raised its full-year guidance, reflecting continued strong demand for golf equipment and apparel.

For the three months ended September 30, Acushnet posted net income of $56.2 million, or $0.89 per diluted share, surpassing analysts' consensus estimate of $0.79 per share. Revenue rose 4.6% year-over-year to $620.5 million, edging past Wall Street's expectations of $620.4 million.

Boosted by the solid quarterly performance, Acushnet raised its full-year 2024 revenue outlook to a range of $2.45 billion to $2.5 billion, up from its prior guidance of $2.43 billion to $2.48 billion. The company now expects full-year adjusted EBITDA between $395 million and $405 million, compared to the previous range of $385 million to $400 million.