Acushnet Holdings Corp. reported a solid full-year 2025 with mid-single digit sales growth, driven by strong performance in Titleist golf equipment and Golf gear. However, the company experienced a decline in net income year-over-year, impacted by debt extinguishment and increased interest expenses, while the fourth quarter saw a net loss and a decrease in Adjusted EBITDA.
Full year net sales increased 4.1% year over year to $2.56 billion, with constant currency growth of 4.2%.
positiveFourth quarter net sales increased 7.2% year over year to $477.2 million, with constant currency growth of 7.0%.
positiveTitleist golf equipment segment saw a 5.9% increase in net sales year-over-year.
positiveQuarterly cash dividend increased by 8.5% to $0.255 per share.
positiveFull year net income attributable to Acushnet Holdings Corp. decreased by 12.0% year over year to $188.5 million.
negativeFourth quarter net loss attributable to Acushnet Holdings Corp. was $34.9 million, a significant decrease from a net loss of $1.1 million in the prior year.
negativeFull year Adjusted EBITDA increased only 1.5% to $410.4 million, with a decrease in Adjusted EBITDA margin from 16.5% to 16.0%.
attentionFourth quarter Adjusted EBITDA decreased 21.0% year over year to $9.8 million, with Adjusted EBITDA margin declining from 2.8% to 2.1%.
negativeInventories increased to $608.6 million from $576.0 million in the prior year.
attentionFull year 2025 net income was impacted by a $17.0 million loss on debt extinguishment and an increase in interest expense.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
Golf balls | N/A | — | — | — | +4.4% |
Golf clubs | N/A | — | — | — | +7.4% |
Titleist golf equipment | N/A | — | — | — | +5.8% |
FootJoy golf wear | N/A | — | — | — | -0.7% |
Golf gear | N/A | — | — | — | +5.6% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Acushnet achieved another positive year in 2025, delivering mid-single digit full year sales growth while making meaningful investments in our product development, manufacturing and supply chain capabilities.
Titleist golf equipment posted healthy gains, driven by the successful launches of new Titleist Pro V1 golf balls and T-Series irons.
Golf industry fundamentals are healthy, with the number of golfers increasing and worldwide rounds up approximately 2% in 2025.
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