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 ...

Financial Data and Key Metrics Changes - Acushnet reported third quarter sales of $593 million, a 6% increase year-over-year [28] - Adjusted EBITDA for the period was up 14% to $99 million [28] - Year-to-date net sales were up 10% to almost $2 billion, with adjusted EBITDA increasing 21% to $378 million [28] Business Line Data and Key Metrics Changes - Titleist Golf Clubs sales increased by 18% for the quarter and 17% year-to-date [34] - Titleist Golf Balls were up 6% in the quarter and 16% year-to-date, driven by new Pro V1 and Pro V1x models [55] - FootJoy sales increased by 3% in the quarter, primarily due to apparel, but were flat year-to-date [31] - Titleist Golf Gear saw a decrease of 19.9% in the third quarter compared to the previous year [43] - Gear sales were down 20% in the quarter but up 9% year-to-date [35] Market Data and Key Metrics Changes - The U.S. market showed strong performance with rounds of play up 4% year-to-date, contributing to an 8% growth in the third quarter [32] - Year-to-date sales in EMEA were down 1%, while Japan was up 9% and Korea down 2% [36] - Golf ball and club sales increased in all regions, but footwear and apparel sales were soft in Korea [36] Company Strategy and Development Direction - The company is focused on high-performance, high-quality golf products and is investing in customization and distribution capabilities to create operating leverage [18][40] - Acushnet plans to launch several new models in early 2024, including new T-Series irons and golf balls [37][38] - The company is maintaining its revenue outlook for 2023 between $2.35 billion and $2.4 billion, reflecting continued momentum in golf ball and club categories [60] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the health of the golf industry, noting increased participation and consumer spending in the U.S. market [65][84] - The company acknowledged macroeconomic concerns but remains optimistic about the sport's resilience and growth potential [84] - Management indicated that the golf industry is at a seasonal low point, with inventories generally healthy but slightly elevated in footwear [88][89] Other Important Information - The effective tax rate for Q3 was 16.5%, down from 22.9% the previous year [48] - The company completed the issuance of $350 million in senior unsecured notes to enhance liquidity [50] - Year-to-date cash flow from operations increased significantly, primarily due to changes in working capital [51] Q&A Session Summary Question: Impact of price change on Pro V1 - Management noted that the price change for Pro V1 has settled in well, with strong sell-in and sell-through performance [8] Question: Revenue guidance and uncertainties - Management acknowledged the wider revenue guidance range compared to last year, attributing it to uncertainties in the market [11][12] Question: Retail inventory and footwear - Management indicated that overall inventories are healthy, but footwear inventories are heavier than ideal, working through the inventory cycle [88][89] Question: Competitive landscape and smaller players - Management takes competition seriously but does not see significant disruption from smaller players in the golf ball segment [112] Question: Future investments and share repurchase plans - Management expects to revisit the remaining share repurchase authorization in the first half of 2024 [109]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Presents unaudited condensed consolidated financial statements for Q3 and 9M 2023, detailing balance sheets, income, cash flows, and equity Balance Sheets (in thousands) | (in thousands) | September 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | **Total current assets** | $1,033,521 | $1,059,076 | | **Total assets** | $2,210,567 | $2,193,807 | | **Total current liabilities** | $856,197 | $548,625 | | **Total liabilities** | $1,236,661 | $1,210,441 | | **Total shareholders' equity** | $966,646 | $976,703 | Statements of Operations (in thousands, except per share amounts) | (in thousands, except per share amounts) | Three months ended Sep 30, 2023 | Three months ended Sep 30, 2022 | Nine months ended Sep 30, 2023 | Nine months ended Sep 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $593,381 | $558,246 | $1,969,034 | $1,822,932 | | **Gross profit** | $308,522 | $294,995 | $1,042,717 | $955,600 | | **Income from operations** | $78,605 | $76,010 | $309,999 | $269,926 | | **Net income attributable to Acushnet** | $57,307 | $51,837 | $225,237 | $199,336 | | **Diluted EPS** | $0.85 | $0.72 | $3.30 | $2.72 | Statements of Cash Flows (in thousands) | (in thousands) | Nine months ended Sep 30, 2023 | Nine months ended Sep 30, 2022 | | :--- | :--- | :--- | | **Cash flows provided by (used in) operating activities** | $296,930 | $(59,042) | | **Cash flows used in investing activities** | $(68,554) | $(29,096) | | **Cash flows used in financing activities** | $(229,202) | $(74,619) | | **Net decrease in cash, cash equivalents and restricted cash** | $(2,138) | $(173,220) | - In January 2023, the Company acquired certain trademarks from West Coast Trends, Inc. (Club Glove) for **$25.2 million**, which will be amortized over a weighted average life of **10 years** and are included in the Titleist golf gear segment[105](index=105&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=30&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, highlighting **8.0% net sales growth** for 9M 2023, segment results, gross margin, liquidity, and capital resources [Results of Operations - Q3 2023 vs Q3 2022](index=33&type=section&id=Results%20of%20Operations%20-%20Q3%202023%20vs%20Q3%202022) Q3 2023 net sales increased **6.3% to $593.4 million**, driven by golf clubs and balls, with gross margin at **52.0%** and net income at **$57.3 million** Net Sales by Segment (in millions) | (in millions) | Q3 2023 | Q3 2022 | % Change | Constant Currency % Change | | :--- | :--- | :--- | :--- | :--- | | **Titleist golf balls** | $192.6 | $181.2 | 6.3% | 6.2% | | **Titleist golf clubs** | $181.0 | $153.9 | 17.6% | 17.9% | | **Titleist golf gear** | $47.7 | $59.2 | (19.4)% | (19.9)% | | **FootJoy golf wear** | $136.7 | $131.7 | 3.8% | 3.4% | - Net sales in the United States grew **7.6% to $352.5 million**, driven by increases in Titleist golf clubs, golf balls, and FootJoy golf wear[123](index=123&type=chunk)[124](index=124&type=chunk) - Gross margin decreased to **52.0%** from **52.8%** in the prior year, primarily due to unfavorable manufacturing overhead absorption and increased promotional activity in FootJoy footwear, partially offset by lower inbound freight costs across all segments[126](index=126&type=chunk) [Results of Operations - Nine Months 2023 vs 2022](index=36&type=section&id=Results%20of%20Operations%20-%20Nine%20Months%202023%20vs%202022) For 9M 2023, net sales grew **8.0% to $1.97 billion**, driven by Titleist golf balls and clubs, with gross margin improving to **53.0%** and net income at **$225.2 million** Net Sales by Segment (in millions) | (in millions) | 9M 2023 | 9M 2022 | % Change | Constant Currency % Change | | :--- | :--- | :--- | :--- | :--- | | **Titleist golf balls** | $622.1 | $546.4 | 13.9% | 15.5% | | **Titleist golf clubs** | $549.8 | $478.9 | 14.8% | 16.8% | | **Titleist golf gear** | $184.6 | $172.5 | 7.0% | 9.0% | | **FootJoy golf wear** | $500.2 | $507.1 | (1.4)% | 0.6% | - Net sales in the United States increased by **15.4% to $1.12 billion**, with growth across all reportable segments[142](index=142&type=chunk)[144](index=144&type=chunk) - Gross profit increased by **$87.1 million**, and gross margin expanded to **53.0%** from **52.4%**, primarily due to lower inbound freight costs across all segments and lower royalty expenses in Titleist golf clubs[147](index=147&type=chunk) [Liquidity and Capital Resources](index=39&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity relies on operations and credit facility; **$350.0 million** senior notes issued post-quarter to repay debt, and **$205.0 million** stock repurchased - On October 3, 2023, a subsidiary issued **$350.0 million** in **7.375% senior unsecured notes** due 2028, using the proceeds to repay **$345.6 million** of borrowings under the multi-currency revolving credit facility[168](index=168&type=chunk) - During the first nine months of 2023, the company repurchased **4,150,817 shares** of common stock for an aggregate of **$205.0 million**[171](index=171&type=chunk) - Cash flow from operating activities was **$296.9 million** for the first nine months of 2023, a significant improvement from a use of cash of **$59.0 million** in the prior-year period, primarily due to favorable changes in working capital, especially inventory[177](index=177&type=chunk)[178](index=178&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=36&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company faces market risks from interest rates, foreign exchange, and commodity prices, using derivatives; a **1% interest rate increase** would raise annual pre-tax interest expense by **$4.9 million** - The company is exposed to interest rate risk on its variable rate debt; a hypothetical **1% increase** in interest rates would increase annual pre-tax interest expense by **$4.9 million** as of September 30, 2023[185](index=185&type=chunk)[188](index=188&type=chunk) - To manage foreign currency transaction risk, the company uses foreign exchange forward contracts with a gross U.S. dollar equivalent notional amount of **$193.2 million** as of September 30, 2023[190](index=190&type=chunk)[191](index=191&type=chunk) - The company faces commodity price and availability risks for key manufacturing materials such as polybutadiene, urethane, titanium, steel, and leather[194](index=194&type=chunk) [Item 4. Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including CEO and CFO, concluded disclosure controls and procedures were effective as of September 30, 2023, with no material changes in internal controls - Management, including the principal executive officer and principal financial officer, concluded that the company's disclosure controls and procedures were effective as of September 30, 2023[196](index=196&type=chunk) - No changes occurred in the company's internal controls over financial reporting during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[197](index=197&type=chunk) PART II. OTHER INFORMATION [Item 1. Legal Proceedings](index=39&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various lawsuits arising from normal business operations, with unpredictable outcomes that could be unfavorable - The company is involved in lawsuits associated with the normal conduct of its business, but the outcome of these pending actions is not predictable[199](index=199&type=chunk) [Item 1A. Risk Factors](index=39&type=section&id=Item%201A.%20Risk%20Factors) Updates risk factors, emphasizing high leverage with **$592.8 million** indebtedness and a subsequent **$350 million** notes issuance, impacting cash flow and operations - The company's high degree of leverage, with **$592.8 million** of indebtedness at quarter-end plus a subsequent **$350 million** note issuance, could adversely affect its ability to fund operations and react to industry changes[201](index=201&type=chunk) - Key risks from high leverage include requiring substantial cash flow for debt payments, increased vulnerability to adverse economic conditions, and restrictions on strategic activities due to debt covenants[202](index=202&type=chunk) - The indenture governing the new notes and the existing credit facility contain covenants that limit the company's ability to incur additional debt, pay dividends, sell assets, and enter into transactions with affiliates[205](index=205&type=chunk)[206](index=206&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=41&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) Details Q3 2023 share repurchase activity, with **1,153,400 shares** bought at **$56.28** average, leaving **$202.4 million** authorized Share Repurchase Activity | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | July 2023 | 368,313 | $55.93 | | August 2023 | 419,047 | $57.06 | | September 2023 | 366,040 | $55.76 | | **Q3 Total** | **1,153,400** | **$56.28** | - As of September 30, 2023, approximately **$202.4 million** remained available for purchase under the company's share repurchase program[207](index=207&type=chunk) [Item 5. Other Information](index=41&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during Q3 2023 - During the three months ended September 30, 2023, no directors or officers adopted, modified, or terminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement"[211](index=211&type=chunk) [Item 6. Exhibits](index=42&type=section&id=Item%206.%20Exhibits) Lists exhibits filed with the Form 10-Q, including the Indenture for senior notes, CEO/CFO certifications, and XBRL data files - The exhibits filed include the Indenture for the October 3, 2023 note issuance, CEO and CFO certifications under Sections 302 and 906 of the Sarbanes-Oxley Act, and Inline XBRL documents[213](index=213&type=chunk)

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 June 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 other ju ...

Financial Data and Key Metrics Changes - Consolidated net sales for Q1 2023 were $686 million, representing a 17% year-over-year increase [30][32] - Net income attributable to Acushnet Holdings was $93 million, up 15% compared to 2022 [32] - Adjusted EBITDA was $147 million, reflecting a 22% increase from the prior year [32] - SG&A expenses increased by 14% to $223 million, primarily due to higher selling and advertising expenses [31] - Gross profit for Q1 was $366 million, up 15% year-over-year, with gross margins at 53.3%, an increase of 100 basis points [59] Business Line Data and Key Metrics Changes - Titleist golf balls saw a 21% increase in sales, driven by the successful launch of new Pro V1 and Pro V1x models [24][30] - Titleist golf clubs reported a 16% increase in sales to $181 million [17] - FootJoy sales increased by 8% to $205 million, with double-digit growth in FJ apparel [18] - Titleist gear experienced a significant growth of 57% for the quarter [26] Market Data and Key Metrics Changes - The U.S. market grew by 25% in Q1, with all segments contributing to this growth [55] - Golf participation remains healthy globally, with U.S. rounds flat despite adverse weather conditions [19][19] - Japan and Korea showed mixed results, with Japan experiencing low single-digit growth and Korea seeing a slight decline [94] Company Strategy and Development Direction - The company is focused on product innovation and operational excellence, with ongoing investments in CapEx expected to reach $75 million for the year [35][64] - Acushnet aims to maintain its premium positioning in the market, with a strong emphasis on fitting and customization to enhance consumer experience [124][108] - The company is confident in its ability to navigate macroeconomic pressures and is committed to delivering strong free cash flow and returning capital to shareholders [36][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the golf industry and the dedicated golfer demographic, which has shown stability even during economic downturns [29][108] - The company anticipates steady demand for its products and is maintaining its guidance for the full year, expecting consolidated net sales to be between $2.325 billion and $2.375 billion [67][68] - Management noted that while there are headwinds from higher input costs, they expect to benefit from lower freight rates [38][66] Other Important Information - The company has a leverage ratio of 1.8 times, with total debt at approximately $829 million [33][61] - Cash flow from operations improved to an outflow of $86 million compared to $164 million in the prior year [63] - The company repurchased approximately 2.5 million shares for about $116 million during Q1 [65] Q&A Session Summary Question: Competitive backdrop for golf clubs and pricing trends - Management noted that they are pleased with the performance of the TSR lineup and anticipate competitive activity in the market [41][42] Question: Long-term expense savings from IP purchase - Management confirmed that the shift to an owned model has resulted in cost benefits, with amortization impacting the P&L positively [75] Question: Trends in consumer behavior during economic uncertainty - Management indicated that dedicated golfers tend to be resilient, with minimal trade-down behavior observed [108] Question: Improvement in retail sales moving into April - Management reported stable retail conditions, with no significant deviations from previous trends [110] Question: Demographic trends driving golf participation - Management highlighted the growth in junior and female golfers as positive trends for the sport [93][121]

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, 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 j ...

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, 2022 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 ...

Acushnet Holdings Corp. (NYSE:GOLF) Q4 2022 Earnings Conference Call March 1, 2023 8:30 AM ET Company Participants Sondra Lennon - Vice President, Financial Planning & Analysis David Maher - President & Chief Executive Officer Tom Pacheco - Executive Vice President, Chief Financial Officer and Chief Accounting Officer Conference Call Participants Daniel Imbro - Stephens Inc. Michael Swartz - Truist Securities Joseph Altobello - Raymond James George Kelly - ROTH Capital Operator Good morning or good afternoo ...

Acushnet Holdings Corp. (NYSE:GOLF) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET Company Participants Sondra Lennon - Vice President of Financial Planning and Analysis and Investor Relations David Maher - President and Chief Executive Officer Thomas Pacheco - Executive Vice President, Chief Financial Officer and Chief Accounting Officer Conference Call Participants Daniel Imbro - Stephens Inc. Casey Alexander - Compass Point Research & Trading, LLC George Kelly - ROTH Capital Partners, LLC M ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ☐ 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 jurisdiction of incorporation or organization) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...