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Acushnet
🇺🇸 NYSE:GOLF
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Dec 31, 2022

Acushnet Q4 2022 Earnings Report

Acushnet reported a net loss for Q4 2022 and increased net sales compared to the previous year.

Key Takeaways

Acushnet Holdings Corp. reported Q4 2022 financial results, with net sales up 6.4% year over year to $447.4 million. The company experienced a net loss of $0.1 million, an improvement of $26.3 million compared to 2021. Adjusted EBITDA was $25.4 million, up $30.4 million year over year. The company provided its full year 2023 Outlook, with expected net sales of $2.33 to $2.38 billion and Adjusted EBITDA of $345 to $365 million.

Net sales increased by 6.4% year over year, reaching $447.4 million.

Net loss improved by $26.3 million compared to the previous year, resulting in a loss of $0.1 million.

Adjusted EBITDA increased by $30.4 million year over year, totaling $25.4 million.

The company expects full year consolidated net sales to be approximately $2.33 to $2.38 billion and Adjusted EBITDA to be approximately $345 to $365 million for 2023.

Total Revenue
$447M
Previous year: $421M
+6.4%
EPS
$0.024
Previous year: -$0.36
-106.7%
Adjusted EBITDA Margin
5.7%
Previous year: -1.2%
-575.0%
Gross Profit
$224M
Previous year: $204M
+9.4%
Cash and Equivalents
$58.9M
Previous year: $282M
-79.1%
Free Cash Flow
-$36.5M
Previous year: $15.6M
-333.1%
Total Assets
$2.19B
Previous year: $2.01B
+9.4%

Acushnet

Acushnet

Acushnet Revenue by Segment

Acushnet Revenue by Geographic Location

Forward Guidance

The Company expects full year consolidated net sales to be approximately $2,325 to $2,375 million and Adjusted EBITDA to be approximately $345 to $365 million.

Positive Outlook

  • Net sales are expected to be between $2.33 and $2.38 billion.
  • Adjusted EBITDA is expected to be between $345 and $365 million.
  • Consolidated net sales are expected to be in the range of up 5.0% to up 7.2% on a constant currency basis.
  • New Pro V1 and Pro V1x models are the next generation of the most trusted golf balls in the game.
  • TSR drivers and fairways are off to a great start in the market and Scotty Cameron Super Select putters will launch later this month

Challenges Ahead

  • The outlook assumes no significant worsening of the COVID-19 pandemic.
  • The outlook assumes no additional supply chain disruptions.
  • The outlook assumes no changes in the impact of foreign currency.
  • The company's outlook is subject to uncertainty and changes in circumstances.
  • Actual results may differ materially from these expectations due to changes in global, regional or local economic, business, competitive, market, regulatory and other factors

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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