Acushnet Q4 2021 Earnings Report
Key Takeaways
Acushnet Holdings Corp. reported full year net sales up 33.2% and fourth quarter net sales flat year over year. The company's fourth quarter net loss was $26.4 million, down 222.2% year over year, and Adjusted EBITDA loss of $5.0 million, down 110.4% year over year.
Full year net sales increased by 33.2%, or 30.6% on a constant currency basis.
Fourth quarter net sales were unchanged on a percentage basis, increasing 1.4% on a constant currency basis.
Net income attributable to Acushnet decreased $48.0 million to a net loss of $26.4 million.
The company 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 for 2022.
Acushnet
Acushnet
Acushnet Revenue by Segment
Acushnet Revenue by Geographic Location
Forward Guidance
The Company 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.
Positive Outlook
- Full-year consolidated net sales are expected to be approximately $2,175 to $2,225 million.
- Adjusted EBITDA is expected to be approximately $325 to $345 million.
- On a constant currency basis, consolidated net sales are expected to be in the range of up 2.7% to up 5.0%.
- The Company's outlook assumes no significant worsening of the COVID-19 pandemic.
- The Company's outlook assumes no additional supply chain disruptions.
Challenges Ahead
- The Company's outlook assumes no changes in the impact of foreign currency.
- Supply chain constraints impacted sales volumes across all reportable segments.
- Gross profit was lower due to increased inbound freight costs.
- Raw material and component shortages negatively impacted production costs.
- Lower golf club sales impacted gross profit.
Revenue & Expenses
Visualization of income flow from segment revenue to net income