GOLF
Acushnet Holdings Corp.85.36
-0.18-0.21%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Pricing details, tariff mitigation color
Q&A added color on pricing discipline, with equipment hikes planned for H1 2026 and Pro V1 increases in US/Canada to counter $70M tariffs—all IEPA, no refunds filed yet. Management detailed FootJoy's premium shift post-inventory correction, favoring margins over top-line growth despite tariff hits. Industry pricing mirrors Acushnet's moves; dedicated golfers prove resilient. Japan/Korea equipment to grow, wearables tempered. Q&A largely reaffirms script. Pricing passes through retail. Watch tariff clarity and H1 launches.
Key Stats
Market Cap
5.01BP/E (TTM)
23.13Basic EPS (TTM)
3.69Dividend Yield
0.01%Recent Filings
10-K
FY2025 results
Acushnet drove FY2025 net sales to $2.6B, up 4% y/y, with Titleist golf equipment surging 6% on higher club pricing and Pro V1 ball volumes, while Golf gear climbed 6% on pricing; FootJoy dipped 1% on footwear weakness. Q4 lagged seasonal norms yet Titleist sustained momentum via T-Series irons and GT hybrids, offsetting second-year driver sales. Gross margins slipped to 47.7% from tariff hits and costs, but $410M Adjusted EBITDA held firm at 16%. Steady $56M dividends and $212M buybacks signal confidence. Unfavorable weather threatens rounds.
8-K
Acushnet's sales up, income down
Acushnet Holdings reported 2025 full-year net sales of $2.56B, up 4.1% year-over-year, while net income fell to $188.5M due to a $17M debt extinguishment loss. Titleist equipment drove gains; FootJoy wear dipped. Q4 sales hit $477.2M, up 7.2%, but swung to a $34.9M loss. Dividend hiked 8.5% to $0.255/share. 2026 outlook: sales $2.625-2.675B, Adjusted EBITDA $415-435M.
8-K
Vietnam FootJoy JV launched
Acushnet Cayman formed a Vietnam footwear JV, ACL FootJoy, taking 40% alongside Myre's 60% via $5K subscriptions on January 6, 2026. Acushnet secures exclusive global purchase rights for all output from Myre's factories under FootJoy brands, mirroring their China setup. Acushnet chairs the board with veto on budgets. Shared control curbs unilateral moves.
8-K
Issues $500M notes, refinances revolver
Acushnet's subsidiary issued $500M 5.625% senior notes due 2033, using proceeds to redeem $350M 7.375% notes due 2028 at 103.688% plus accrued interest and repay revolver debt. Simultaneously amended its credit facility to a $950M revolver maturing 2030 with flexible multicurrency terms and maintained leverage covenants at 3.75x total and 3.00x interest coverage. Refinancing extends maturities while trimming rates.
8-K
Notes offering to refinance debt
Acushnet's subsidiary plans a $500M senior notes offering due 2033 to redeem all $350M of 7.375% notes due 2028 and repay part of its revolver. It targets average net leverage below 2.25x annually, defined per credit agreement. Plans to amend revolver to 2030 maturity. Refinancing extends maturities.
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