Acushnet Q1 2024 Earnings Report
Key Takeaways
Acushnet Holdings Corp. reported a 3.1% year-over-year increase in net sales, reaching $707.6 million in the first quarter of 2024. Net income attributable to Acushnet Holdings Corp. decreased by 5.9% to $87.8 million, while Adjusted EBITDA increased by 4.7% to $153.7 million.
Net sales increased by 3.1% year over year, or 4.0% on a constant currency basis, driven by Titleist golf clubs and golf balls.
Net income attributable to Acushnet Holdings Corp. decreased by 5.9% year over year, primarily due to increased interest and income tax expenses.
Adjusted EBITDA increased by 4.7% year over year, with an Adjusted EBITDA margin of 21.7%.
The company reaffirms its full-year 2024 outlook, expecting consolidated net sales of approximately $2,450 to $2,500 million and Adjusted EBITDA of approximately $385 to $405 million.
Acushnet
Acushnet
Acushnet Revenue by Segment
Acushnet Revenue by Geographic Location
Forward Guidance
The Company is reaffirming its full-year 2024 outlook and expects full year consolidated net sales to be approximately $2,450 to $2,500 million and Adjusted EBITDA to be approximately $385 to $405 million. On a constant currency basis, consolidated net sales are expected to increase 3.2% to 5.3%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income