Q1 2025 Acushnet Holdings Corp Earnings Call Transcript
Key Points
- Acushnet Holdings Corp (GOLF) reported a 1% increase in worldwide net sales, reaching $703 million for the first quarter of 2025.
- The golf equipment segment saw a net sales increase of almost 4%, driven by successful launches of new Pro V1 and Pro V1X golf ball models.
- Titleist gear sales grew by almost 4% in the quarter, with significant gains in the EMEA and Japan markets.
- The company has a diverse and flexible supply chain, which helps mitigate the impact of tariffs and supports operational flexibility.
- Acushnet Holdings Corp (GOLF) returned approximately $51 million to shareholders through share repurchases and cash dividends in the first quarter of 2025.
- Adjusted EBITDA decreased by $15 million due to increased investments in the equipment segment.
- FootJoy sales declined by 5% in the quarter, attributed to lower closeout footwear sales and product line rationalization.
- Net sales in Korea and Japan declined, primarily due to lower sales in the FootJoy golf wear segment and Titleist apparel.
- The company faces significant tariff exposure, with an estimated gross impact of $75 million in 2025, primarily due to China import tariffs.
- Gross profit decreased by $5 million compared to the first quarter of 2024, mainly due to higher manufacturing costs and lower sales in certain segments.
Good morning all and thank you for joining us for today's Acushnet Company first quarter 2025 earnings call. My name is Drew and I'll be the operator today.
During today's call, after the prepared remarks, there will be a Q&A session. If you would like to register a question, please press star followed by 1 on your telephone keypad. And to withdraw your question, it's followed by 2.
It's now my pleasure to hand over to Sondra Lennon, Vice President at P&A and investor relations, to begin, please go ahead when you're ready.
Good morning, everyone Thank you for joining us today for an Acushnet Holding Corps first quarter 2025 earnings conference call. Joining me this morning are David Maher, our President and Chief Executive Officer, and Sean Sullivan, our Chief Financial Officer.
Before turning the call over to David, I would like to remind everyone that we will make forward-looking statements on the call today. These
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