Solid Quarterly and Half-Year Performance
Acushnet reported worldwide net sales of $720 million for the quarter, marking a 5% increase over last year, and adjusted EBITDA increased by 9% year-over-year. For the first half, net sales were up 3%, reaching $1.42 billion, while adjusted EBITDA was $282 million.
Strong Golf Equipment Sales
Golf Equipment sales increased mid-single digits in the quarter and first half, driven by new Pro V1 golf ball models and strength within the GT Metals and hybrid franchise. Titleist golf equipment sales were up in all regions for the half, leading to a 10% revenue increase compared to a similar product launch cycle in 2023.
Growth in Gear Segment
Sales in the Gear segment rose 7% in the second quarter and 6% for the first half. Titleist bag, glove, and headwear categories grew mid-single digits, while travel brands led by Club Glove grew more than 20%.
Positive Regional Performance
The U.S. business showed ongoing strength, with EMEA up 6% in the first half due to gains in Titleist Golf Equipment and gear. Revenues in Japan and Korea were up 4% and 3% in the half, respectively.
Shareholder Returns
Acushnet returned approximately $154 million to shareholders through $125 million in share repurchases and $29 million in cash dividends. A quarterly cash dividend of $0.235 per share was declared.