Titleist and Footjoy parent company Acushnet report impressive results

Equipment
Titleist golf stand

Acushnet, the global leader in the design, development, manufacture and distribution of performance-driven golf products, have reported financial results for the three and nine months ending September 30, 2024 – and they were impressive.

David Maher, Acushnet’s President and Chief Executive Officer, said: “Acushnet delivered solid third quarter results, with constant currency net sales up 5% and adjusted EBITDA up nearly 9%.

“Our golf equipment businesses led the way in the quarter, driven by the successful launch of new Titleist GT drivers and fairway metals and healthy demand for Titleist golf balls.

“Looking ahead, we are confident in reaffirming our full-year revenue outlook and narrowing our Adjusted EBITDA outlook toward the high end of our guidance. This reflects confidence in our team’s ability to execute and the resilience of Acushnet’s target consumer, the game’s dedicated golfer.

“I would like to thank the entire Acushnet team for their ongoing commitment to providing golfers with great product and service experiences and delivering long-term value for our shareholders.”

In terms of the third quarter of 2024, higher net sales in the United States were largely driven by increases of 18.3% in Titleist golf clubs and 12.1% in Titleist golf gear. The increase in Titleist golf clubs was primarily due to higher sales volumes of the newly introduced GT drivers and fairways.

Travel and golf bag boost

The increase in Titleist golf gear was driven by increased sales volumes in travel and golf bags product categories.

Looking to the first nine months of the year overall, there was a 3.8% increase in net sales of Titleist golf balls, primarily driven by higher sales volumes of Pro V1 and Pro V1x, and the latest generation AVX, Tour Soft and TruFeel models launched in the first quarter of 2024.

There was also an 8.3% increase in net sales of Titleist golf clubs, largely due to higher sales volumes of our SM10 wedges launched in the first quarter of 2024 and the newly introduced GT drivers and fairways, partially offset by lower sales volumes of hybrids and irons.

READ MORE: By the numbers: what goes into the Titleist Pro V1 and Pro V1x golf ball

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