NYSE$GOLF

Acushnet Holdings Corp · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Acushnet reported a solid first quarter with constant currency sales up 8%, driven by FootJoy and Titleist clubs.

Acushnet Holdings Corp. reported first quarter net sales of $606.1 million, a 4.3% increase year over year, with net income of $81.0 million and Adjusted EBITDA of $120.0 million.

  • Net sales increased by 4.3% year over year, or 7.6% on a constant currency basis.
  • Net income attributable to Acushnet Holdings Corp. decreased by 4.7% year over year to $81.0 million.
  • Adjusted EBITDA decreased by 11.3% year over year to $120.0 million.
  • The company increased its share repurchase program authorization by $150.0 million in April.

Headline financials

Total Revenue

$606M

Previous: $581M+4.3%
EPS (adj)

$1.10

Previous: $1.13-2.7%
Adjusted EBITDA Margin

19.8%

Previous: 23.3%-15.0%
Capital Expenditures

-$11.7M

Previous: -$6.41M-82.3%
Free Cash Flow

$69.4M

Previous: $78.5M-11.7%
Net Income

$81M

Previous: $85M-4.6%
Operating Income

$105M

Previous: $120M-12.2%
Gross Profit

$317M

Previous: $311M+2.0%
Cash & Equivalents

$114M

Previous: $113M+1.2%
Total Assets

$2.09B

Previous: $1.97B+5.9%
Stock-Based Comp

$5.35M

Previous: $5.53M-3.3%

Revenue & EPS history

Acushnet · Revenue · Quarterly

$606M

Q1 2022+4.3%vs Q1 2021
Beat estimate in 12 of 16 quarters(75%)
ActualEstimate

Revenue by segment

Acushnet · $242M total across 2 segments · Q1 2022

  • FootJoy Golf Wear
    $198M+24.0%
  • Titleist Golf Equipment
    $44.1M-16.9%

Forward guidance

The Company affirms its full year outlook and expects full-year consolidated net sales to be approximately $2,175 to $2,225 million and Adjusted EBITDA to be approximately $325 to $345 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2022

Historical avgQ1 2022

+1.8%

Avg return

Earnings day

+1.0%

Avg return

5 days after

+2.1%

Avg return

30 days after

56%

25 / 45 earnings

Positive

+20.4%

Q1 2021

Best reaction

-11.5%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-8.4%-6.7%-4.0%
Q4 2025+3.5%-0.1%-7.4%
Q3 2025+3.9%+7.1%+11.0%
Q1 2025+5.1%+9.4%+9.4%
Q4 2024-1.9%-2.0%+1.8%
Q3 2024+14.6%+11.1%+17.2%
Q2 2024+1.7%+0.4%-0.6%
Q1 2024-0.2%+1.3%+4.0%
Q4 2023-5.3%-6.6%-4.6%
Q3 2023+10.0%+14.0%+16.2%
Q2 2023-1.1%-2.5%-0.4%
Q1 2023+5.1%+1.7%-6.5%
Q4 2022+10.1%+7.1%+5.6%
Q3 2022-0.7%-2.6%+5.1%
Q2 2022+2.9%-0.2%-2.2%
Q1 2022-6.4%-6.5%-1.8%
Q4 2021+3.6%-1.5%-8.1%
Q3 2021+5.0%+2.9%-2.1%
Q2 2021+2.0%+0.7%-6.7%
Q1 2021+20.4%+18.7%+20.1%
Q4 2020-4.0%-6.6%-4.0%
Q3 2020+1.9%+2.4%+8.3%
Q2 2020-11.5%-12.1%-12.0%
Q1 2020+3.3%+1.1%+30.8%
Q4 2019-5.4%-1.4%-5.1%
Q3 2019+3.3%+3.0%+5.4%
Q2 2019-0.0%+0.5%+4.9%
Q1 2019-3.7%-5.8%-3.2%
Q4 2018+1.6%-2.4%-7.1%
Q3 2018+1.8%+5.6%-6.5%
Q2 2018+9.0%+8.6%+12.2%
Q1 2018-8.6%-4.5%+0.5%
Q4 2017+2.1%+3.3%+7.8%
Q3 2017+4.1%-2.9%+11.3%
Q2 2016-6.4%-5.2%-3.3%
Q2 2017-6.4%-5.2%-3.3%
Q1 2017-1.1%-4.7%-3.1%
Q1 2016-1.1%-4.7%-3.1%
Q1 2015-0.3%-1.6%+5.4%
Q4 2014-0.3%-1.6%+5.4%
Q2 2015-0.3%-1.6%+5.4%
Q4 2016+0.2%-1.9%+1.9%
Q3 2016+12.5%+12.2%-0.1%
Q4 2015+12.5%+12.2%-0.1%
Q3 2015+12.5%+12.2%-0.1%

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