Overview

• Golf products maker's Q1 net sales rose 7.1%, beating analyst expectations

• Net income fell 18% due to prior-year non-cash gain from FootJoy JV deconsolidation

• Adjusted EBITDA increased 4.1% from prior year

Outlook

• Acushnet reaffirms 2026 net sales outlook of $2,625 mln to $2,675 mln

• Company expects 2026 adjusted EBITDA of $415 mln to $435 mln

• Acushnet sees 2026 net sales rising 2.5% to 4.5% on constant currency basis

Result Drivers

• TITLEIST EQUIPMENT GROWTH - Higher sales volumes of new SM11 wedges, T-Series irons, and performance golf balls, plus higher average selling prices for Pro V1 models, drove Titleist golf equipment gains

• GOLF GEAR PRICING - Higher average selling prices across all golf gear categories and increased golf bag sales contributed to segment growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the recreational products peer group is "buy."

• Wall Street's median 12-month price target for Acushnet Holdings Corp is $100.00, about 6.6% above its May 5 closing price of $93.79

• The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 26 three months ago

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