Acushnet Holdings Corp

Latest Results (20.02.2026):

Acushnet Holdings Corp.'s third quarter 2025 results (three months ended September 30, 2025) show continued top-line growth with consolidated net sales of $657.7 million (up 6.0% year‑over‑year; +5.3% constant currency), while third‑quarter net income attributable to Acushnet was $48.5 million (down 13.7% year‑over‑year). Adjusted EBITDA for Q3 2025 was $118.6 million, up 10.4% versus prior year, and the company updated full‑year 2025 guidance higher for both revenue and adjusted EBITDA.

Net sales (Q3 and YTD)

Q3 2025 net sales: $657.7M (+6.0% YoY; +5.3% constant currency). Year‑to‑date (nine months) net sales: $2,081.5M (+3.5% YoY; +3.6% constant currency).

Profitability and margins

Q3 2025 net income attributable to Acushnet: $48.5M (−13.7% YoY), primarily impacted by higher income tax expense despite higher operating income. Q3 Adjusted EBITDA: $118.6M (+10.4% YoY) with an Adjusted EBITDA margin of 18.0% (vs. 17.3% prior year). YTD Adjusted EBITDA: $400.6M (+2.2% YoY) with a 19.2% margin (vs. 19.5% prior year).

Segment performance

All reportable segments grew in Q3. Titleist golf equipment net sales rose 5.7% (driven by higher ASPs in clubs and stronger golf ball volumes, including 2025 Pro V1 models and new T‑Series irons). FootJoy golf wear grew 4.0% (higher ASPs; apparel volumes up, footwear volumes down). Golf gear increased 14.2% (higher ASPs and glove volumes).

Regional trends

U.S. net sales improved 6.1% to $397.0M. EMEA grew strongly in Q3 (+20.7% to $91.1M). Japan declined (−11.5%), Korea was roughly flat (+0.9%), and Rest of World rose modestly (+4.8%).

Guidance update

Acushnet raised its full‑year 2025 consolidated net sales outlook to $2,520–$2,540M (constant‑currency growth ~2.6%–3.4%) and now expects full‑year Adjusted EBITDA of $405–$415M.

Capital returns and liquidity

Board declared a quarterly cash dividend of $0.235 per share (payable December 19, 2025; record date December 5, 2025). During the nine months ended September 30, 2025 the company repurchased 2,842,719 shares for $187.5M (including 953,406 shares repurchased from Magnus for $62.5M). Cash and restricted cash at 9/30/25: $89.5M; operating cash flow YTD: $194.7M.

Balance sheet and notable non‑GAAP items

Total assets at 9/30/25: $2,353.6M; total long‑term debt ~$879.0M (long‑term plus current portions). YTD net income benefited from a non‑cash pre‑tax gain of $20.9M related to the deconsolidation of the FootJoy golf shoe joint venture; Q3 Adjusted EBITDA excludes certain items like restructuring, transformation, share‑based comp and other adjustments per the company reconciliation.