Acushnet Holdings Corp (NYSE:GOLF) shares rose Wednesday after the company reported its third-quarter results.
The company reported earnings of 81 cents per share, slightly below the analysts’ estimate of 82 cents, and down from 89 cents per share a year earlier.
Net sales rose to $657.66 million, up 6% year over year or 5.3% on a constant currency basis, beating the consensus estimate of $632.97 million.
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Adjusted EBITDA margin improved to 18.0% in the third quarter from 17.3% in the same period a year earlier.
Acushnet ended the quarter with $89.48 million in cash, cash equivalents, and restricted cash.
Segment Performance
In the third quarter of 2025, Titleist golf equipment sales grew 5.7% to $427.6 million year over year. FootJoy golf wear posted a 4% rise to $136.5 million, and golf gear sales climbed 14.2% to $61.2 million.
Regionally, U.S. sales increased 6.1% to $397 million, EMEA revenue rose 20.7% to $91.1 million, Korea was nearly flat, up 0.9% to $67.7 million, while Japan saw a 11.5% decline to $36.9 million. The Rest of World segment rose 4.8% to $65 million.
Dividend and Share Repurchase
Acushnet’s board declared a quarterly cash dividend of 23.5 cents per share, payable on December 19, 2025, to shareholders of record as of December 5, 2025.
During the first nine months of 2025, Acushnet repurchased around 2.84 million shares for $187.5 million at an average price of $65.96. This included 953,406 shares bought from Magnus Holdings for $62.5 million under a prior repurchase agreement.
Outlook
The company raised its fiscal 2025 sales outlook to $2.52 billion to $2.54 billion, up from its prior range of $2.49 billion to $2.54 billion, compared with analysts’ estimate of $2.51 billion.
On a constant-currency basis, consolidated net sales are expected to rise 2.6% to 3.4%. The company now forecasts full-year 2025 adjusted EBITDA of $405 million to $415 million.
David Maher, Acushnet’s President and Chief Executive Officer, said, “The sport of golf continues to build momentum as the industry benefits from healthy fundamentals and increased participation in several key regions. Acushnet’s focus on product innovation, quality and fitting services are resonating with golfers and contributing to the overall health of our Titleist, FootJoy and KJUS brands.”
Price Action: GOLF shares were trading higher by 7.07% to $80.61 at last check Wednesday.
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