Acushnet Holdings reports Q4 EPS (41c), consensus (37c)

Reports Q4 revenue $413.0M, consensus $430.13M. “2023 was a strong year for Acushnet with the company delivering 6% full year constant currency sales growth, adjusted EBITDA growth of 11% and significant capital returns to shareholders,” said David Maher, CEO. “Titleist golf balls posted healthy sales gains, led by the successful Pro V1 and Pro V1x launch and continued strengthening of our golf ball supply chain, while Titleist golf clubs growth was driven by new T-Series irons and expanded club fitting capabilities. Titleist golf gear grew in all categories and our performance apparel business was led by FJ apparel, which posted a double digit increase over 2022. The golf industry is healthy, and we are encouraged by the sport’s energy and appeal with participation vibrant across regions. Looking to 2024, we are planning for growth across all of our segments and expect to make several investments to expand upon our product development, operations, golfer connection and digital engagement capabilities to best support our trade partners and golfers. Acushnet associates are focused on developing innovative products and services to help dedicated golfers play their very best in support of the company’s enduring commitment to drive sustainable growth and shareholder value creation.”