Strong Overall Performance
Acushnet reported worldwide net sales of $720 million for the quarter, a 5% increase over last year, driven by the strength of Golf Equipment and Gear segments. Adjusted EBITDA increased by 9% year-over-year.
Titleist Golf Equipment Success
Golf Equipment sales saw a mid-single-digit increase, with Titleist golf equipment sales up 10% compared to the first half of 2023. The new Pro V1 golf ball models contributed significantly to the increase.
Regional Growth
The U.S. and EMEA regions saw steady growth, with EMEA revenues up 6% in the first half, driven by gains in Titleist Golf Equipment and golf gear.
Positive Market Trends
Despite macro uncertainties, the golf industry fundamentals remain strong with 1.5 million new golfers in 2024 and a 2% increase in worldwide rounds of play in the first half.
FootJoy Strategy
FootJoy's shift towards premium performance footwear has positively impacted operating results, despite a 2% decline in sales for the quarter.