Acushnet Holdings Corp. · NYSE:GOLF
Acushnet — Q4 2025 Earnings Presentation
13 slides from Acushnet's earnings presentation, Feb 26, 2026
Slide 1: Full Year and Fourth Quarter 2025 Earnings Call
Full Year and Fourth Quarter 2025 Earnings Call February 26, 2026
Slide 2: Disclaimers
DISCLAIMERS FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements that reflect our current views with respect to, among other things, our 2026 outlook, our operations and our financial performance. These forward-looking statements are included throughout this presentation
Slide 3: 2025 Performance
2025 Performance David Maher President and Chief Executive Officer
Slide 4: FY and Q4 Overview and Net Sales by Segment
FY AND Q4 OVERVIEW AND NET SALES BY SEGMENT Growth Growth Growth Growth ($ in millions) Q4 2025 Y/Y Y/Y @ CC FY 2025 Y/Y Y/Y @ CC Net sales $477.2 7.2% 7.0% $2,558.7 4.1% 4.2% Adjusted EBITDA(1) $9.8 (21.0)% $410.4 1.5% Segment net sales Golf Balls $143.1 1.9% 1.9% $821.0 4.4% 4.4% Golf Clubs $150.6
Slide 5: Q4 and FY Net Sales by Region
Q4 AND FY NET SALES BY REGION Growth Growth Growth Growth ($ in millions) Q4 2025 FY 2025 Y/Y Y/Y @ CC Y/Y Y/Y @ CC United States $267.6 8.9% 8.9% $1,523.3 5.3% 5.3% EMEA $63.2 10.9% 5.1% $356.8 11.2% 7.8% Japan $28.8 13.8% 15.8% $131.1 (2.2)% (3.1)% Korea $61.5 (5.1)% (1.1)% $275.5 (5.3)% (1.1)% Re
Slide 6: Outlook
OUTLOOK • Worldwide rounds of play trends healthy • Number of U.S. golfers increased for 8th straight year • Product Highlights • New Pro V1x Left Dash, AVX, TourSoft, and Velocity golf ball models • New SM11 Vokey wedges and Scotty Cameron Phantom mallet putters • New FootJoy Premiere, Pro/SL golf
Slide 7: Q4 and Full Year 2025 Financial Results
Q4 and Full Year 2025 Financial Results Sean Sullivan Chief Financial Officer
Slide 8: Income Statement Highlights
INCOME STATEMENT HIGHLIGHTS ($ in millions) Q4 2025 Q4 2024 FY 2025 FY 2024 Net sales $477.2 $445.2 $2,558.7 $2,457.1 Gross profit $210.7 $207.7 $1,221.3 $1,187.7 GM% 44.1% 46.7% 47.7% 48.3% SG&A $206.2 $193.1 $833.4 $801.6 R&D $20.1 $16.3 $76.5 $67.8 Intangible amortization $2.2 $3.5 $11.9 $14.0 (L
Slide 9: Balance Sheet and Capital Allocation
BALANCE SHEET AND CAPITAL ALLOCATION ($ in millions) As of 12/31/2025 As of 12/31/2024 Unrestricted Cash $49 $51 Total Debt Outstanding $943 $764 (1) Net Leverage Ratio 2.2x 1.8x Inventory $609 $576 (1) Ratio of average adjusted net funded debt for the prior four fiscal quarters to Adjusted EBITDA f
Slide 10: 2026 Financial Outlook
2026 FINANCIAL OUTLOOK ($ in millions) 2026 Outlook (1) $2,625 - $2,675 Net Sales Up ~3.6% at the mid-point Increase by ~2.5% to 4.5% Net Sales @ CC Up ~3.5% at the mid-point $415 - $435 Adjusted EBITDA Up ~3.6% at the mid-point (1) Change as compared to 2025 10
Slide 11: Q&A
Q&A
Slide 12: Appendix
APPENDIX CLUBGLOVE TPI
Slide 13: Adjusted EBITDA
ADJUSTED EBITDA ($ in millions) Q4 2025 Q4 2024 FY 2025 FY 2024 Net (loss) income attributable to Acushnet Holdings Corp. $(34.9) $(1.1) $188.5 $214.3 Interest expense, net 14.8 12.3 58.3 52.6 Loss on debt extinguishment 17.0 - 17.0 - Income tax (benefit) expense (16.4) (10.0) 52.4 47.8 Depreciation