Acushnet Holdings Stock Earnings Reports

Acushnet reported a solid start to 2026: worldwide net sales of $753 million, +5% on a constant currency basis, and adjusted EBITDA of $145 million, up $6 million year-over-year. Strength came from Titleist Golf Equipment (+7%) and Golf Gear (+8%); FootJoy was down 1% as the business refocuses on premium offerings. Regional performance: U.S. +5% (rounds up 5%), EMEA +8%, Japan +6%, Korea -7% (timing of club launches), Rest of World +9%. Key product momentum: multiple new golf ball models and an accelerated launch of Titleist GTS drivers and metals (global launch June 11) — a shift from a historical Q3 launch to Q2 to capture peak season demand. Gross profit was $355 million; gross margin was 47.2%, down ~70 bps, primarily driven by a $17 million tariff headwind in Q1. SG&A rose $13 million due to higher selling, fitting network expansion, IT and A&P. Inventories were up 7% as the company built equipment inventory for the GTS launch; FootJoy and Golf Gear inventories declined. CapEx was $19 million in Q1; full-year CapEx expected at ~$95 million. Net leverage was 2.3x (targeting ~2.25x on average). Free cash flow was down in Q1 (partly due to inventory build) but expected to meaningfully improve in H2. Capital return: $26 million returned YTD (dividends + repurchases); Board declared quarterly dividend of $0.255/share; $231 million remains on buyback authorization. Guidance maintained: full‑year net sales $2,625–2,675 million and adjusted EBITDA $415–435 million (excludes potential IEEPA tariff refunds). Management highlighted tariff-rate uncertainty (potentially favorable changes) but cautioned rising commodity and freight costs could offset benefits.