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Mar 31, 2023
Acushnet Q1 2023 Earnings Report
Acushnet reported first quarter results with net sales up 13.2% year over year and net income attributable to Acushnet Holdings Corp. up 15.2% year over year.
Key Takeaways
Acushnet Holdings Corp. reported a strong first quarter with net sales of $686.3 million, a 13.2% increase year-over-year, and net income attributable to Acushnet Holdings Corp. of $93.3 million, a 15.2% increase year-over-year. Adjusted EBITDA was $146.8 million, up 22.3% year over year.
Net sales increased by 13.2% year over year, or 17.2% on a constant currency basis.
Net income attributable to Acushnet Holdings Corp. increased 15.2% year over year.
Adjusted EBITDA increased by 22.3% year over year.
The company affirms its full year outlook and expects full year consolidated net sales to be approximately $2,325 to $2,375 million and Adjusted EBITDA to be approximately $345 to $365 million.
Acushnet
Acushnet
Acushnet Revenue by Segment
Acushnet Revenue by Geographic Location
Revenue by Segment
Titleist golf equipment Revenue
CapyFin.comFootJoy golf wear Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEMEA Revenue
CapyFin.comJapan Revenue
CapyFin.comKorea Revenue
CapyFin.comRest of World Revenue
CapyFin.com Forward Guidance
The Company affirms its full year outlook and expects full year consolidated net sales to be approximately $2,325 to $2,375 million and Adjusted EBITDA to be approximately $345 to $365 million. On a constant currency basis, consolidated net sales are expected to be in the range of up 5.0% to up 7.2%.
Positive Outlook
- Expects full year consolidated net sales to be approximately $2,325 to $2,375 million.
- Expects Adjusted EBITDA to be approximately $345 to $365 million.
- On a constant currency basis, consolidated net sales are expected to be in the range of up 5.0% to up 7.2%.
- The Company's outlook assumes no additional supply chain disruptions
- The Company's outlook assumes no changes in the impact of foreign currency.
Challenges Ahead
- A reduction in the number of rounds of golf played or in the number of golf participants
- Unfavorable weather conditions may impact the number of playable days and rounds played in a given year
- Consumer spending habits and macroeconomic factors may affect the number of rounds of golf played and related spending on golf products
- Demographic factors may affect the number of golf participants and related spending on our products
- Changes to the Rules of Golf with respect to equipment
Revenue & Expenses
Visualization of income flow from segment revenue to net income