Acushnet Q4 2023 Earnings Report
Key Takeaways
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.
Acushnet
Acushnet
Acushnet Revenue by Segment
Acushnet Revenue by Geographic Location
Forward Guidance
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%.
Positive Outlook
- Consolidated net sales are expected to be approximately $2,450 to $2,500 million.
- Consolidated net sales on a constant currency basis are expected to be in the range of up 3.2% to 5.3%.
- Adjusted EBITDA is expected to be approximately $385 to $405 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income