Acushnet (US:GOLF)2024-02-29 21:58Financial Performance - Full Year 2023 - Net sales reached $2382 million, a 4.9% increase year-over-year, or 6.2% on a constant currency basis[6] - Adjusted EBITDA was $376.1 million, representing an 11.1% increase year-over-year[6] - Gross profit reached $1252.5 million with a gross margin of 52.6%[25] - Net income attributable to Acushnet Holdings Corp was $198.4 million[25] Segment Performance - Full Year 2023 - Titleist Golf Balls net sales were $761.7 million, a 12.2% increase year-over-year, or 13.5% on a constant currency basis[6] - Titleist Golf Clubs net sales were $658.6 million, an 8.0% increase year-over-year, or 9.5% on a constant currency basis[6] - Titleist Golf Gear net sales were $216.2 million, a 5.5% increase year-over-year, or 7.0% on a constant currency basis[6] - FootJoy Golf Wear net sales were $596.4 million, a decrease of 3.5% year-over-year, or a decrease of 2.1% on a constant currency basis[6] Regional Performance - Full Year 2023 - United States net sales were $1350 million, a 10.0% increase year-over-year[22] - EMEA net sales were $314.7 million, a decrease of 2.1% year-over-year, or a decrease of 1.4% on a constant currency basis[22] - Japan net sales were $149.4 million, a decrease of 7.2% year-over-year, or an increase of 0.1% on a constant currency basis[22] - Korea net sales were $301.8 million, a decrease of 3.5% year-over-year, or a decrease of 1.7% on a constant currency basis[22] - Rest of World net sales were $266.1 million, a 7.6% increase year-over-year, or 11.7% on a constant currency basis[22] 2024 Outlook - Net sales are projected to be between $2450 million and $2500 million, representing an increase of approximately 3.9% at the midpoint[32] - Adjusted EBITDA is projected to be between $385 million and $405 million, representing an increase of approximately 5.0% at the midpoint[32]