Acushnet Holdings Corp. (NYSE:GOLF), a global leader in golf equipment, reported second-quarter revenue that surpassed analyst forecasts, though its earnings came in slightly below expectations. Following the results, shares edged up 0.55% in premarket trading on Thursday.
For the quarter, Acushnet posted revenue of $720.5 million, beating the consensus estimate of $717.39 million and marking a 5.4% increase compared to the same period last year. Adjusted earnings per share were $1.25, falling short of the projected $1.32.
The performance was driven by strong momentum in its Titleist golf equipment division, which saw sales rise 6.8% year-over-year to $453.8 million. Growth was attributed to increased average selling prices across all club categories and robust demand for the company’s new 2025 Pro V1 golf balls. The golf gear segment also contributed positively, with revenue up 7.9% to $76.7 million.
“Acushnet delivered another strong performance in the second quarter while operating in this dynamic environment,” said David Maher, President and CEO of Acushnet. “Through the first six months of the year, the team delivered a 3% increase in constant currency net sales driven by growth in Titleist golf equipment and Golf gear.”
Net income attributable to Acushnet rose 5.9% to $75.6 million, while adjusted EBITDA climbed 9.2% to $143.1 million. The adjusted EBITDA margin improved to 19.9% from 19.2% a year ago.
In the U.S., sales grew 6.4% to $434.5 million. International sales increased 3.8%, or 2.3% on a constant currency basis. The company noted continued strength in U.S. golf participation, which expanded for a seventh consecutive year in 2024. Global participation trends also remained favorable, despite weather-related headwinds in some regions during the spring.
Looking ahead, Maher expressed enthusiasm for upcoming product introductions, including new Titleist T-series irons, Scotty Cameron putters, and expanded offerings in the FootJoy Hyperflex and Quantum golf shoe lines.
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