--- title: "Acushnet | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 752.98 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285431634.md" datetime: "2026-05-06T20:21:31.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285431634.md) - [en](https://longbridge.com/en/news/285431634.md) - [zh-HK](https://longbridge.com/zh-HK/news/285431634.md) --- # Acushnet | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 752.98 M Revenue: As of FY2026 Q1, the actual value is USD 752.98 M, beating the estimate of USD 722.48 M. EPS: As of FY2026 Q1, the actual value is USD 1.36, missing the estimate of USD 1.3954. EBIT: As of FY2026 Q1, the actual value is USD 133.22 M. ### Consolidated Financial Performance - **Net Sales**: For the three months ended March 31, 2026, net sales increased by 7.1% to $752,975 thousand, or 4.8% on a constant currency basis, compared to $703,372 thousand for the same period in 2025. - **Gross Profit**: Gross profit rose by $18.1 million to $355,260 thousand for the three months ended March 31, 2026, up from $337,162 thousand in 2025. - **Gross Margin**: Gross margin was 47.2% in 2026, a decrease from 47.9% in 2025. - **Income from Operations**: Income from operations increased to $120,149 thousand in 2026 from $114,547 thousand in 2025. - **Net Income Attributable to 高尔史密斯国际控股**: Net income attributable to 高尔史密斯国际控股 was $81,416 thousand in 2026, a decrease from $99,372 thousand in 2025. - **Adjusted EBITDA**: Adjusted EBITDA increased to $144,561 thousand in 2026 from $138,856 thousand in 2025. - **Adjusted EBITDA Margin**: The Adjusted EBITDA margin was 19.2% in 2026, down from 19.7% in 2025. ### Segmented Performance (Three Months Ended March 31, 2026 vs. 2025) #### Titleist Golf Equipment - **Net Sales**: Increased by 8.9% to $458.5 million, or 7.1% on a constant currency basis. This was driven by higher sales volumes of recently launched SM11 wedges and latest generation T-Series irons, and higher average selling prices of Pro V1 golf ball models, along with increased sales volumes of AVX, Tour Soft, and Velocity performance golf ball models. These gains were partially offset by lower sales volumes of second model year hybrids, drivers, fairways, and Scotty Cameron putters. - **Operating Income**: Increased by $8.4 million (11.1%) to $84.2 million, primarily due to higher gross profit of $17.7 million, partially offset by increased operating expenses of $9.4 million. Operating expenses increased due to higher advertising, promotion, selling, and administrative expenses. #### FootJoy Golf Wear - **Net Sales**: Increased by 1.7% to $181.5 million, but decreased by -1.3% on a constant currency basis. The constant currency decrease was largely due to lower sales volumes in footwear, partially offset by higher average selling prices across all product categories. - **Operating Income**: Decreased by $3.5 million (14.3%) to $21.0 million, resulting from lower gross profit of -$2.8 million and higher operating expenses of $0.7 million. The decrease in gross profit was mainly due to higher tariff costs, partly offset by higher average selling prices. #### Golf Gear - **Net Sales**: Increased by 10.8% to $78.7 million, or 8.3% on a constant currency basis. This was primarily driven by higher average selling prices across all product categories and higher sales volumes in golf bags, partially offset by lower sales volumes in the travel product category. - **Operating Income**: Increased by $2.0 million (14.5%) to $15.8 million, driven by higher gross profit of $2.8 million, partially offset by increased operating expenses of $0.8 million. The increase in gross profit was largely due to higher average selling prices, partly offset by higher tariff costs. ### Geographic Net Sales (Three Months Ended March 31, 2026 vs. 2025) - **United States**: Net sales increased by 5.0% to $445.2 million, driven by increases in Titleist golf equipment ($17.9 million) and Golf gear ($4.7 million), partially offset by a decrease in FootJoy golf wear (-$2.4 million). - **International Regions**: Net sales increased by 10.2%, or 4.5% on a constant currency basis. - **EMEA**: Net sales increased by 19.7% to $124.4 million, or 8.0% on a constant currency basis. - **Japan**: Net sales increased by 3.4% to $36.4 million, or 6.0% on a constant currency basis. - **Korea**: Net sales decreased by -7.6% to $61.2 million, or -6.9% on a constant currency basis. - **Rest of World**: Net sales increased by 16.1% to $85.8 million, or 9.2% on a constant currency basis. ### Other Key Metrics - **Selling, General and Administrative Expenses (SG&A)**: Increased by $13.4 million to $213,671 thousand, primarily due to higher selling, administrative, and advertising and promotion expenses, and a $3.2 million increase in foreign currency transaction losses. - **Intangible Amortization**: Decreased by $1.3 million to $2,245 thousand due to certain intangible assets becoming fully amortized. - **Other Expense (Income), net**: Shifted from income of $19,863 thousand in 2025 to expense of -$1,816 thousand in 2026, primarily due to a non-cash gain of $20.9 million recognized in 2025 from the deconsolidation of Lionscore. - **Income Tax Expense**: Increased by $2.5 million to $24,101 thousand, with an effective tax rate of 22.9% in 2026 compared to 17.9% in 2025. - **Cash Flows from Operating Activities**: Cash used in operating activities increased to -$143,663 thousand from -$120,254 thousand, driven by increased working capital requirements. - **Cash Flows from Investing Activities**: Cash used in investing activities increased to -$19,191 thousand from -$11,263 thousand due to changes in capital expenditures. - **Cash Flows from Financing Activities**: Cash provided by financing activities increased to $164,908 thousand from $118,145 thousand, primarily due to increased net proceeds from credit facilities and decreased common stock purchases, partially offset by higher employee restricted stock tax withholdings. - **Capital Expenditures**: Acushnet Holdings Corp. invested $19.2 million in capital expenditures during the three months ended March 31, 2026. - **Share Repurchase Program**: 高尔史密斯国际控股 repurchased 106,008 shares of common stock for $10.0 million during the three months ended March 31, 2026, at an average price of $94.12 per share. As of March 31, 2026, $230.7 million remained under the current share repurchase authorization. - **Dividends**: 高尔史密斯国际控股 paid $15.9 million in dividends during the three months ended March 31, 2026. A dividend of $0.255 per share was declared for Q2 2026. ### Outlook and Strategy Acushnet Holdings Corp. anticipates spending $30 million to $35 million in total for the full year on its global ERP platform implementation, with $25.0 million in capitalized implementation costs expected for the full year. The company expects to invest approximately $95.0 million in capital expenditures for the full year and plans to continue monitoring macroeconomic factors and geopolitical developments to mitigate their impact on costs and profitability. Acushnet Holdings Corp. believes that cash from operations, current cash on hand, and available borrowings will cover liquidity needs for at least the next 12 months. ### Related Stocks - [GOLF.US](https://longbridge.com/en/quote/GOLF.US.md) ## Related News & Research - [The Home Depot Announces First Quarter Fiscal 2026 Results; Reaffirms Fiscal 2026 Guidance | HD Stock News](https://longbridge.com/en/news/286890512.md) - [ONWARD Medical to Announce First Quarter 2026 Results on May 26, 2026 | ONWRY Stock News](https://longbridge.com/en/news/286858298.md) - [Keysight Technologies Reports Second Quarter 2026 Results | KEYS Stock News](https://longbridge.com/en/news/286959830.md) - [Abaxx to Launch Silver Singapore Futures on May 22, 2026 | ABXXF Stock News](https://longbridge.com/en/news/286762247.md) - [Hafnia’s Q1 2026 Financial Results Presentation to Be Held on 27 May 2026 | HAFN Stock News](https://longbridge.com/en/news/287014236.md)