Acushnet Holdings Corp · Q4 2023 earnings

Briefing

Acushnet reported a decrease in net sales and net loss attributable to Acushnet Holdings Corp. but declared an increased quarterly cash dividend and announced an increased share repurchase authorization.

Acushnet Holdings Corp. reported a decrease in fourth quarter net sales by 7.7% year over year to $413.0 million and a net loss attributable to Acushnet Holdings Corp. of $26.8 million. The company increased its quarterly cash dividend by 10.3% to $0.215 per share and authorized repurchase of up to an additional $300.0 million of its common stock.

• Net sales decreased by 7.7% year over year, or 8.6% on a constant currency basis.
• Net loss attributable to Acushnet Holdings Corp. was $26.8 million, a decrease of $26.7 million year over year.
• Adjusted EBITDA resulted in a loss of $1.5 million, down $26.9 million year over year.
• The company increased its quarterly cash dividend by 10.3% to $0.215 per share.

Headline financials

Revenue & EPS history

The Company provided its full year 2024 Outlook, with expected net sales of $2.45 to $2.50 billion and Adjusted EBITDA of $385 to $405 million. On a constant currency basis, consolidated net sales are expected to be in the range of up 3.2% to up 5.3%.