ACUSHNET HOLDINGS CORP. Second Quarter 2024 Earnings Call August 6, 2024 DISCLAIMERS FORWARD-LOOKING STATEMENTS 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, ma ...

Acushnet (GOLF) came out with quarterly earnings of $1.11 per share, missing the Zacks Consensus Estimate of $1.18 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -5.93%. A quarter ago, it was expected that this golf products maker would post earnings of $1.24 per share when it actually produced earnings of $1.43, delivering a surprise of 15.32%. Over the last four quarters, the co ...

Exhibit 99.1 Acushnet Holdings Corp. Announces Second Quarter and Year-to-Date 2024 Financial Results Second Quarter and Year-to-Date 2024 Financial Results • Second quarter net sales of $683.9 million, down 0.8% year over year, up 0.6% in constant currency • Year-to-date net sales of $1,391.4 million, up 1.1% year over year, up 2.3% in constant currency • Second quarter net income attributable to Acushnet Holdings Corp. of $71.4 million, down 4.4% year over year • Year-to-date net income attributable to Ac ...

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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 March 31, 2024 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 j ...

Financial Data and Key Metrics Changes - The company reported a net sales increase of 4% year-over-year for Q1 2024, totaling $708 million [5][30] - Adjusted EBITDA for the quarter was $153.7 million, reflecting a 4.7% increase from Q1 2023 [5][30] - Gross profit increased by 3% to $378 million compared to the previous year, primarily due to higher net sales [5][30] - SG&A expenses rose by 6% to $237 million, influenced by increased advertising, IT expenses, and restructuring costs [5][30] - Interest expense increased by $3 million to $13 million due to higher interest rates [5] Business Line Data and Key Metrics Changes - Titleist golf clubs saw a 14% sales increase, driven by strong performance in the US, Japan, and EMEA [4][5] - Golf ball sales increased by 9%, supported by successful new product launches and demand fulfillment from the loyalty program [5][30] - FootJoy net sales declined by 6%, with growth in the US offset by declines in international markets [5][30] - Sales of products not allocated to a reportable segment decreased, with a notable decline in Korean Titleist apparel [4][5] Market Data and Key Metrics Changes - US market sales increased by 13%, benefiting from positive rounds of play [31] - EMEA sales declined by 5% due to poor weather conditions affecting the golf season [31] - Japan experienced a 10% decline, with gains in golf clubs offset by losses in other categories [31] - Korea saw a 12% decline, primarily due to poor weather and reduced sales in Titleist apparel [31] Company Strategy and Development Direction - The company plans to increase investment in the FJ FitLab performance fitting system to enhance customer experience [4][5] - The focus remains on executing strategic initiatives and maintaining a strong balance sheet to support organic growth and shareholder returns [6][30] - The company is optimistic about the golf industry's long-term health, driven by increased participation and demographic trends [57] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's performance despite weather-related challenges impacting sales in certain regions [33][90] - The outlook for 2024 remains unchanged, with revenue expected between $2.45 billion and $2.5 billion, reflecting a 4.3% increase at the midpoint [6] - Management noted that the golf season typically gains momentum after the Masters, making Q2 critical for assessing overall performance [10][33] Other Important Information - The company returned approximately $50 million to shareholders through share repurchases and dividends [19] - The effective tax rate increased to 21.7% from 18.1% due to changes in the jurisdictional mix of earnings [5] Q&A Session Summary Question: Guidance for the year remains unchanged despite a strong Q1 - Management indicated that it is customary not to adjust guidance after Q1, as clarity on the golf season typically improves in Q2 [10][11] Question: Commentary on gross margin and promotional environment - Management stated that gross margins were in line with expectations, and promotional activity was typical for this time of year [11][12] Question: Industry outlook and participation trends - Management highlighted strong participation levels and noted that the golf industry has seen consistent growth in recent years [56][57] Question: Inventory levels and comfort with current stock - Management expressed confidence in inventory levels, indicating that they are well-positioned to meet demand [35][36] Question: Impact of weather on sales and demand - Management acknowledged that weather significantly affects demand, with positive trends in regions with favorable conditions [90]

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 ...