Wednesday, June 12, 2024

Acushnet releases Q1 sales figures

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Acushnet Holdings Corporation, parent company of the Titleist, FootJoy and Kjus golf brands, reported net sales for the first quarter of 2024 increased by 3.1%, driven by higher sales volumes in Titleist clubs and balls, and partially offset by lower sales volume in FootJoy golf wear.

A decline in product sales volume, not allocated to one of the company’s four reportable segments, also contributed to the change in net sales.

The US market set the pace for the quarter with a 13% increase in sales year-over-year to $418.2 million, driven by a 20% increase in sales of Titleist golf clubs, a 15% increase in Titleist balls, and 13% increase across its golf bag and travel product categories. 

The increase in Titleist equipment was driven by higher sales volumes of the newly introduced SM10 wedges, while the ball division saw increased sales of the Pro V1 and Pro V1x, Velocity and the latest generation of AVX, Tour Soft, and TruFeel models launched in the first quarter of 2024.

Net sales in regions outside the US decreased by 8.5%, with sales slowing down in EMEA, Korea and Japan.

In the EMEA, the decrease was primarily due to lower net sales in FootJoy apparel and footwear, and Titleist golf gear, partially offset by an increase in Titleist clubs. 

Speaking about the Q1 results, David Maher, president and CEO, Acushnet Holdings, said: “I am pleased to report on Acushnet’s solid first quarter, which benefited from the continued strength of Titleist golf balls and golf clubs and terrific execution by our global operations teams in launching a comprehensive line up of new products across our Titleist, FootJoy and Kjus brands.”

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