Net Sales Performance - Third quarter net sales of $620.5 million, up 4.6% year over year, and up 5.0% in constant currency[1] - Year-to-date net sales of $2,011.9 million, up 2.2% year over year, and up 3.1% in constant currency[1] - Net sales for Q3 2024 increased to $620.5 million, up from $593.4 million in Q3 2023, representing a 4.6% growth[32] - Third quarter net sales for Titleist golf clubs increased by 18.2% to $213.9 million in 2024 compared to $181.0 million in 2023[37] - Third quarter net sales in the United States increased by 6.2% to $374.2 million in 2024 from $352.5 million in 2023[38] - Nine months net sales for Titleist golf balls increased by 3.8% to $646.0 million in 2024 from $622.1 million in 2023[39] - Nine months net sales in the United States increased by 6.9% to $1,201.0 million in 2024 from $1,123.8 million in 2023[40] Net Income and Profitability - Third quarter net income attributable to Acushnet Holdings Corp. of $56.2 million, down 1.9% year over year[1] - Net income attributable to Acushnet Holdings Corp. for Q3 2024 was $56.2 million, slightly down from $57.3 million in Q3 2023[32] - Net income for the nine months ended September 30, 2024, was $209.998 million, a decrease from $225.029 million in 2023[36] - Net income attributable to Acushnet Holdings Corp. for September 2024 was $56.224 million, compared to $57.307 million in September 2023[50] - Gross profit for Q3 2024 rose to $337.4 million, compared to $308.5 million in Q3 2023, a 9.4% increase[32] - Basic net income per common share for Q3 2024 was $0.89, compared to $0.86 in Q3 2023[31] Adjusted EBITDA and Margins - Third quarter Adjusted EBITDA of $107.4 million, up 8.7% year over year, with an Adjusted EBITDA margin of 17.3%[1][12] - Adjusted EBITDA for September 2024 was $107.394 million, an increase from $98.790 million in September 2023[50] - Adjusted EBITDA margin for September 2024 was 17.3%, up from 16.6% in September 2023[50] - Adjusted EBITDA for the nine months ended September 30, 2024, includes $7.0 million related to restructuring costs[49] - Adjusted EBITDA for the three and nine months ended September 30, 2024, includes $2.1 million and $8.0 million, respectively, related to IT system optimization[49] - Adjusted EBITDA margin is used by the company to evaluate business strategies and operating performance[48] Product-Specific Sales Performance - Titleist golf clubs net sales increased 18.2% (18.7% in constant currency) driven by higher sales volumes of newly introduced GT drivers and fairways[9] - Titleist golf gear net sales increased 8.2% (8.8% in constant currency) mainly due to higher sales volumes in travel and golf bag product categories[9] - FootJoy golf wear net sales decreased 2.6% (2.3% in constant currency) primarily due to lower sales volumes in footwear and apparel[10] Financial Guidance - Full-year 2024 consolidated net sales guidance reaffirmed at $2,450 to $2,500 million, with constant currency growth expected at 3.2% to 5.3%[22] - Full-year 2024 Adjusted EBITDA outlook narrowed to $395 to $405 million, compared to previous guidance of $385 to $405 million[22] Cash Flow and Financial Position - Cash, cash equivalents, and restricted cash increased to $99.1 million as of September 30, 2024, up from $65.4 million as of December 31, 2023[34] - Accounts receivable, net, grew to $367.5 million as of September 30, 2024, compared to $201.4 million as of December 31, 2023[34] - Inventories decreased to $497.5 million as of September 30, 2024, down from $615.5 million as of December 31, 2023[34] - Total assets increased to $2.28 billion as of September 30, 2024, up from $2.20 billion as of December 31, 2023[34] - Long-term debt rose to $708.0 million as of September 30, 2024, compared to $671.8 million as of December 31, 2023[34] - Cash flows provided by operating activities for the nine months ended September 30, 2024, were $246.228 million, down from $296.930 million in 2023[36] Expenses and Costs - Research and development expenses for Q3 2024 were $18.9 million, up from $16.2 million in Q3 2023, a 16.5% increase[32] - Interest expense, net for September 2024 was $13.187 million, compared to $9.389 million in September 2023[50] - Income tax expense for September 2024 was $13.198 million, up from $11.252 million in September 2023[50] - Depreciation and amortization for September 2024 was $13.965 million, compared to $12.807 million in September 2023[50] - Share-based compensation for September 2024 was $9.031 million, up from $5.305 million in September 2023[50] - Restructuring costs for September 2024 were $432 thousand, compared to a negative $10 thousand in September 2023[50] - Transformation costs for September 2024 were $2.655 million, slightly down from $2.848 million in September 2023[50] - Net loss attributable to noncontrolling interests for September 2024 was $949 thousand, compared to $261 thousand in September 2023[50] Share Repurchase - The company repurchased 1,080,560 shares of its common stock at an average price of $64.80 for an aggregate of $70.0 million during the quarter[21] Currency Impact - Constant currency net sales are used to evaluate sales performance without the impact of foreign exchange rate changes[42]

Wall Street analysts expect Acushnet (GOLF) to post quarterly earnings of $0.79 per share in its upcoming report, which indicates a year-over-year decline of 7.1%. Revenues are expected to be $622.63 million, up 4.9% from the year-ago quarter.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.Prior to a company's earnings anno ...

Financial Performance - Revenue for Q3 2024 is projected to be between $1,150,000 and $1,250,000, representing a significant increase of 1,163% at the midpoint compared to $95,000 in Q3 2023 and a sequential increase of 48% from $813,000 in Q2 2024 [2] - Gross margin for Q3 2024 is expected to be between 63% and 67%, an improvement from 41% in Q3 2023, driven by increased manufacturing volume [2] Product Development and Launches - The company announced a complete rebranding and launched the new Gravity Premium putter line, introducing five new models [2] - The company expanded its global presence by launching the Newton Motion shafts in Japan, available in 50 of its largest golf retail locations [2] - The introduction of advanced performance shafts for higher swing speeds was also noted [2] Market Engagement and Professional Adoption - The number of professionals using the Newton Motion Shafts on the PGA TOUR Champions increased to 34, enhancing brand exposure [2][3] - Successful digital marketing campaigns were executed to promote the company's products [2] Strategic Initiatives - The company closed a public offering of common stock, raising $732,000 [2] - Future expansions may include broadening product offerings through mergers, acquisitions, or internal developments [6] - The company aims to manufacture and assemble most products in the United States while expanding into golf apparel and other related product lines [5]

CAMARILLO, CA, Oct. 21, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) (“NEWTON GOLF” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces that Greg Campbell, Executive Chairman, will present a corporate overview at the LD Micro Main Event XVII. The conference is being held on October 28 – 30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles. Event: LD Micro ...

Newton Motion shafts now available in 50 of Japan's largest golf retailers and through GDO, the country's leading e-commerce platform CAMARILLO, CA, Oct. 15, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF Company (Nasdaq: SPGC) ("NEWTON GOLF" or the "Company"), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, announces the launch of its Newton Motion shafts in Japan. Now available in 50 of the largest retail go ...

Core Insights - NEWTON GOLF has launched advanced Newton Motion shafts designed for elite golfers with higher swing speeds, expanding its product portfolio [1][2] - The new shafts include 6.5-dot and 7-dot options, catering to swing speeds of 110-120 mph and exceeding 120 mph respectively [2] - The shafts are priced at $275 each and are sold "ready to play" with included grip and adapter [3] Product Specifications - 6.5-DOT: 300 cpm, 3.4 Torque, 76g, for swing speeds of 110-120 mph [2] - 7-DOT: 320 cpm, 3.1 Torque, 79g, for swing speeds exceeding 120 mph [2] - The shafts feature four essential technologies: Elongated Bend Profile, Kinetic Storage Construction, Newton Symmetry 360 Design, and Variable Bend Profile [3] Market Position and Growth - The new shafts have gained traction among top players on the PGA TOUR Champions, indicating strong market interest [2] - The company aims to manufacture and assemble most products in the United States and is expanding into golf apparel and related product lines [6] - Future expansions may include mergers, acquisitions, or internal developments to complement its premium brand [7]

Gravity, the putter division of parent company NEWTON GOLF, introduces five putters in its new premium series CAMARILLO, CA, Sept. 25, 2024 (GLOBE NEWSWIRE) -- NEWTON GOLF, (Nasdaq: SPGC) ("NEWTON GOLF" or the "Company"), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, builds on its recent rebranding with the launch of three new putter models and two redesigned classics in its newly formed Gravity Pr ...

Acushnet Holdings Corp. (GOLF) is likely to benefit from strong demand, new product launches and operational improvements. However, elevated expenses are a concern. Factors Driving GOLF Stock Acushnet continues to benefit from the overall strength of the golf industry. The resurgence in golf participation post-pandemic has created a solid foundation for sustained growth. In the United States, rounds of golf were up 2% in the first half of the year, contributing to the company's 7% growth in the region. Heal ...

The Zacks Leisure and Recreation Products industry faces challenges due to high inflation and elevated interest rates. Nevertheless, there is a positive trend in sales of fitness products, driven by growing health and fitness awareness and strong boat sales. Industry participants — which design, market, retail and distribute products for the outdoor and recreation market — are witnessing solid demand. Stocks like Acushnet Holdings Corp. (GOLF) , On Holding AG (ONON) and Peloton Interactive, Inc. (PTON) are ...

Financial Data and Key Metrics Changes - Acushnet reported net sales of $684 million for Q2 2024, a 1% year-over-year increase, primarily driven by gains in Titleist Golf Balls [5] - Adjusted EBITDA for Q2 was $131 million, down $1.1 million from the previous year [5] - For the first half of 2024, net sales reached $1.39 billion, up 2%, while adjusted EBITDA also increased by 2% to $285 million [5][12] - Gross profit for Q2 was $372 million, up 1% compared to 2023, with a gross margin of 54.4%, an increase of 90 basis points year-over-year [13][14] Business Line Data and Key Metrics Changes - Titleist Golf Balls and Golf Clubs saw growth of 7% and 5% respectively in the first half of 2024 [6] - Titleist Golf Balls performed particularly well, achieving double-digit gains in the U.S. and growth in Korea [6] - Titleist Golf Clubs sales increased by 22% compared to the first half of 2022, with strong demand for new products [7] - FootJoy Golf Wear segment experienced a decline in net sales in the Rest of World region [13] Market Data and Key Metrics Changes - The U.S. market grew by 7% in the first half, driven by strong performance in golf balls and apparel [8] - Rounds of play in the U.S. were up 2%, despite poor weather conditions affecting early season traffic [8] - In Europe, rounds were down high single digits due to cold and wet weather, impacting sales across all business lines [8] - Korea's premium apparel market is expected to remain soft in the near term due to inventory corrections [9] Company Strategy and Development Direction - Acushnet is focused on product launches, including new Titleist GT Metals and seasonal collections for FJ and KJUS [11] - The company is leveraging its strong balance sheet for disciplined capital allocation and investments in business growth [11] - Management expressed confidence in the company's ability to execute long-term goals and maintain brand momentum [10] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about the overall health of the golf industry, particularly in the U.S. market [20] - There are concerns about the apparel market in Asia, particularly in Korea, which is experiencing a correction [22] - The company expects third-quarter net sales to exceed 50% of second-half totals, driven by product launches and strong demand [18] Other Important Information - Acushnet's inventory position improved, declining 22% from Q4 2023 and 10% from Q1 2024 [15] - The company returned approximately $101 million to shareholders in the first half of 2024, including share repurchases and dividends [16] - Full-year 2024 net sales outlook is reaffirmed at $2.45 billion to $2.5 billion, with adjusted EBITDA expected between $385 million and $405 million [17] Q&A Session Summary Question: Any change in view regarding the health of the golf industry? - Management noted the U.S. market is healthy, with rounds up despite weather challenges, while Europe is facing difficulties due to poor weather [20][21] Question: Expectations for gross margin in the back half of the year? - Management indicated that gross margin outlook for the back half is expected to be similar to the first half, with no significant changes anticipated [25] Question: Any pushback on ball pricing or trade down observed? - Management reported continued strong demand for premium urethane products, with no significant trade down noted [26] Question: Are golfers delaying club purchases? - Management stated that club purchases have been steady, with successful launches contributing to growth [27] Question: Perspective on the GT family of products compared to previous series? - Management highlighted the GT series as a significant technological advancement, with positive early feedback from players [29][30] Question: Expectations for FootJoy inventory equilibrium? - Management indicated that the U.S. market is in a steady state, while global markets may take a few more quarters to reach equilibrium [31][32] Question: Expectations regarding the Olympics and its impact? - Management does not expect a significant near-term impact from the Olympics but acknowledges its long-term benefits for the game [35][36] Question: Share count at the end of the quarter? - Management reported approximately 61.8 million shares of common stock at the end of July [37]