Acushnet Holdings Corp. (NYSE:GOLF) Q1 2024 Results Conference Call May 7, 2024 8:30 AM ET Company Participants Sondra Lennon - VP, FP&A and IR David Maher - President and CEO Sean Sullivan - CFO Conference Call Participants Matthew Boss - JPMorgan Megan Alexander - Morgan Stanley Randy Konik - Jefferies Joe Altobello - Raymond James Casey Alexander - Compass Point Mike Swartz - Truist Securities Noah Zatzkin - KeyBanc Capital Markets JP Wollam - Roth MKM Operator Good morning, everyone. And welcome to the ...

Acushnet (GOLF) reported $707.55 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 3.1%. EPS of $1.43 for the same period compares to $1.36 a year ago.The reported revenue represents a surprise of +2.19% over the Zacks Consensus Estimate of $692.41 million. With the consensus EPS estimate being $1.24, the EPS surprise was +15.32%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ...

Exhibit 99.1 Acushnet Holdings Corp. Announces First Quarter 2024 Financial Results First Quarter 2024 Financial Results FAIRHAVEN, MA – May 7, 2024 – Acushnet Holdings Corp. (NYSE: GOLF) ("Acushnet" or the "Company"), the global leader in the design, development, manufacture and distribution of performance-driven golf products, today reported financial results for the three months ended March 31, 2024. "I am pleased to report on Acushnet's solid first quarter which benefited from the continued strength of ...

Analysts on Wall Street project that Acushnet (GOLF) will announce quarterly earnings of $1.24 per share in its forthcoming report, representing a decline of 8.8% year over year. Revenues are projected to reach $692.41 million, increasing 0.9% from the same quarter last year.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Prior to a co ...

Full Year and Fourth Quarter 2023 Earnings Call DISCLAIMERS This presentation includes forward-looking statements that reflect our current views with respect to, among other things, our 2024 outlook, our operations and our financial performance. These forward-looking statements are included throughout this presentation and relate to matters such as our industry, business strategy, goals and expectations concerning our market position, future operations, margins, profitability, capital expenditures, liquidit ...

Financial Data and Key Metrics Changes - In 2023, the company reported net sales of $2.38 billion, representing a growth of 6% year-over-year, and adjusted EBITDA of $376 million, which is an 11% increase [7][26] - Operating cash flow for the year was $372 million, indicating strong cash generation capabilities [7] - For Q4 2023, net sales decreased by 8.6% compared to Q4 2022, with adjusted EBITDA showing a loss of $1.5 million, approximately $27 million lower than the previous year [33][34] Business Line Data and Key Metrics Changes - Golf Ball sales increased by 13% for the year, driven by strong demand for new Pro V1 models, with sales growth observed in all regions [7][8] - Golf Club sales reached $659 million, up 10%, supported by gains in irons and putters [9] - Gear sales increased by 7%, with steady demand for custom gear products, although FootJoy sales were down 2% due to footwear declines [11][12] Market Data and Key Metrics Changes - U.S. sales were robust, with all reportable segments posting growth, while EMEA sales were down 1% overall, but golf balls and clubs grew by 9% and 7% respectively [14] - Japan's sales were flat, with golf balls showing double-digit growth, while Korea experienced a 2% decline [15] - The rest of the world saw a healthy sales increase of 12%, with gains across all segments [15] Company Strategy and Development Direction - The company is focused on product innovation and custom fitting, with plans to expand its fitting network for both balls and clubs [10][18] - Acushnet is committed to enhancing its supply chain and digital platforms, particularly with the integration of Club Glove [19] - The company announced a 10% increase in its quarterly dividend and a $300 million increase in share repurchase authorization, reflecting confidence in its cash flow generation [13][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about golfer participation and the overall health of the golf industry, noting a growing U.S. golfer base and increased rounds of play [16][24] - The company anticipates low single-digit growth in net sales for the first half of 2024, driven by Titleist golf balls, clubs, and gear [49] - Management highlighted the importance of fitting and customization in driving future growth and improving golfer experience [68][69] Other Important Information - The company incurred approximately $12 million in one-time charges in 2023, primarily related to distribution optimization [40] - Capital expenditures for 2023 were $75 million, projected to reach $85 million in 2024, focusing on distribution and customization capabilities [43][100] Q&A Session Summary Question: Sales outlook and core equipment growth - Management expects growth across all segments, with specific initiatives in the ball product line to drive sales [53][56] Question: Structural changes in the industry post-COVID - Management noted an increase in the number of golfers and rounds played, indicating a positive shift in the industry [58][60] Question: Footwear market outlook - Management anticipates stabilization in the footwear market by mid-2024, following a correction in inventory levels [112] Question: Contribution from Club Glove - The expected contribution from Club Glove in guidance is less than $20 million in sales, but it is EBITDA accretive [86] Question: Competitive environment and channel health - Management reported a positive outlook for FootJoy's market position despite increased competition and inventory corrections [114][116]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37935 Acushnet Holdings Corp. (Exact name of registrant as specified in its charter) Delaware 45-2644353 (State or other juri ...

Exhibit 99.1 Acushnet Holdings Corp. Announces Full Year and Fourth Quarter 2023 Financial Results, Declares Increased Quarterly Cash Dividend, Announces Increased Share Repurchase Authorization, Introduces 2024 Outlook Key Highlights: FAIRHAVEN, MA – February 29, 2024 – Acushnet Holdings Corp. (NYSE: GOLF) ("Acushnet"), the global leader in the design, development, manufacture and distribution of performance-driven golf products, today reported financial results for the full year and fourth quarter ended D ...

Acushnet Holdings Corp. (NYSE:GOLF) Q3 2023 Earnings Conference Call November 3, 2023 8:30 AM ET Company Participants Sondra Lennon – Vice President-Planning, Analysis and Investor Relations David Maher – President and Chief Executive Officer Sean Sullivan – Chief Financial Officer Conference Call Participants Randy Konik – Jefferies Megan Alexander – Morgan Stanley Matthew Boss – JPMorgan JP Wollam – ROTH MKM Casey Alexander – Compass Point Operator Good morning, everyone, and welcome to the Acushnet Holdi ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37935 Acushnet Holdings Corp. (Exact name of registrant as specified in its charter) Delaware 45-2644353 (State or oth ...