Acushnet Holdings Corp · Q3 2024 earnings

Briefing

Acushnet reported solid third quarter results driven by golf equipment businesses, with net sales up 4.6% and adjusted EBITDA up 8.7% year over year.

Acushnet Holdings Corp. reported a 4.6% increase in net sales to $620.5 million for the third quarter of 2024, with net income attributable to Acushnet Holdings Corp. decreasing 1.9% to $56.2 million. Adjusted EBITDA increased 8.7% to $107.4 million. The company reaffirmed its full-year revenue outlook and narrowed its Adjusted EBITDA outlook toward the high end of its guidance.

• Third quarter net sales increased by 4.6% year over year to $620.5 million, or 5.0% in constant currency.
• Net income attributable to Acushnet Holdings Corp. for the third quarter decreased by 1.9% year over year to $56.2 million.
• Adjusted EBITDA for the third quarter increased by 8.7% year over year to $107.4 million.
• The company reaffirmed its full-year 2024 consolidated net sales guidance range of approximately $2,450 to $2,500 million and now expects full-year 2024 Adjusted EBITDA to be approximately $395 to $405 million.

Headline financials

Revenue & EPS history

The Company is reaffirming its full-year 2024 consolidated net sales guidance range of approximately $2,450 to $2,500 million. On a constant currency basis, consolidated net sales are expected to increase 3.2% to 5.3%. In addition, the Company now expects full-year 2024 Adjusted EBITDA to be approximately $395 to $405 million, compared to $385 to $405 million.