Acushnet FY2023 net sales +4.9% to $2.38B; Adj EBITDA +11.1%; raises dividend 10.3%

Acushnet Holdings Corp.

2023-FY EPS reported $2.94 revenue$2,381,995,000

Full year net sales $2.382B, up 4.9% (6.2% constant currency); Adjusted EBITDA $376.1M, up 11.1%.
Q4 net sales $413M, down 7.7% (8.6% constant currency); net loss $26.8M vs $0.1M loss year ago.
Quarterly dividend increased 10.3% to $0.215/share; Board authorized $300M additional share repurchase.
2024 outlook: net sales $2.45-2.50B, Adjusted EBITDA $385-405M; constant currency growth 3.2-5.3%.
Titleist golf balls led growth (Pro V1 launch); FootJoy footwear sales declined partially offset by apparel.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Acushnet Holdings Corp. reported fourth quarter ended December 31, 2023 results: revenue $413.0 million, net income $26.8 million loss.

Period: fourth quarter ended December 31, 2023
Revenue: $413.0 million
Net income: $26.8 million loss
Result: reported results

Exact text from the filing

• Fourth quarter net sales of $413.0 million, down 7.7% year over year, down 8.6% in constant currency • Fourth quarter net loss attributable to Acushnet Holdings Corp. of $26.8 million, down $26.7 million year over year • Fourth quarter Adjusted EBITDA loss of $1.5 million, down $26.9 million year over year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Acushnet Holdings Corp. reported full year ended December 31, 2023 results: revenue $2.4 billion, net income $198.4 million.

Period: full year ended December 31, 2023
Revenue: $2.4 billion
Net income: $198.4 million
Result: reported results

Exact text from the filing

• Full year net sales of $2.4 billion, up 4.9% year over year, up 6.2% in constant currency • Full year net income attributable to Acushnet Holdings Corp. of $198.4 million, down $0.9 million year over year • Full year Adjusted EBITDA of $376.1 million, up $37.7 million, or 11.1%, year over year

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Acushnet Holdings Corp. reported full year 2024 results: revenue $2.45 to $2.50 billion. Guidance initiated.

Period: full year 2024
Revenue: $2.45 to $2.50 billion
Guidance: initiated
Result: guidance update

Exact text from the filing

• The Company provided its full year 2024 Outlook, with expected net sales of $2.45 to $2.50 billion and Adjusted EBITDA of $385 to $405 million.

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Acushnet Holdings Corp. filing history →

Source: SEC EDGAR

accession 0001672013-24-000006

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