Acushnet Holdings Corp

Latest Results (07.01.2026):

Acushnet Holdings Corp — third quarter of 2025: Acushnet reported solid Q3 2025 results with net sales of $657.7 million (up 6.0% y/y; +5.3% constant currency) and stronger profitability on an adjusted basis (Adjusted EBITDA up 10.4% to $118.6 million). GAAP net income attributable to Acushnet was $48.5 million (down 13.7% y/y) amid higher income tax expense, while year-to-date results show modest growth in sales and net income and the company updated full-year guidance higher.

Top-line and quarterly trends

Q3 2025 net sales were $657.7M (+6.0% y/y; +5.3% CC). Year-to-date net sales through Sept. 30 were $2,081.5M (+3.5% y/y; +3.6% CC).

Profitability

Q3 net income attributable to Acushnet was $48.5M (down 13.7% y/y), primarily due to higher income tax expense. Q3 Adjusted EBITDA was $118.6M (+10.4% y/y) with an Adjusted EBITDA margin of 18.0% (vs. 17.3% prior year).

Year-to-date results and one-time items

Through nine months, net income attributable to Acushnet was $223.4M (+3.7% y/y), aided by a $20.9M non-cash pre-tax gain from the deconsolidation of the FootJoy golf shoe joint venture; YTD Adjusted EBITDA was $400.6M (+2.2% y/y).

Segment and product drivers

All reportable segments grew in Q3, led by Titleist golf equipment (balls and the new T‑Series irons; Titleist equipment sales +5.7% Q3). Golf gear rose strongly (+14.2% Q3) and FootJoy golf wear increased +4.0% Q3 (higher ASPs across categories).

Geographic performance

U.S. sales rose ~6.1% in Q3. EMEA delivered double‑digit growth (+20.7% Q3), while Japan declined (-11.5% Q3); Korea and Rest of World posted modest increases.

Outlook and guidance

Acushnet updated full‑year 2025 guidance to consolidated net sales of $2,520–$2,540M (constant currency +2.6% to +3.4%) and Adjusted EBITDA of $405–$415M.

Capital returns and liquidity

The board declared a $0.235 quarterly dividend (payable Dec. 19, 2025; record Dec. 5). The company repurchased 2,842,719 shares YTD for $187.5M (including 953,406 shares in Q3 for $62.5M). Cash and equivalents were $89.5M at Sept. 30, 2025.

Balance sheet items

Total assets were $2,353.6M and long‑term debt was $878.3M at Sept. 30, 2025. Free cash flow dynamics reflect operating cash provided of $194.7M YTD and capex of $51.3M for the nine months.