Acushnet Holdings Corp. · NYSE:GOLF
Acushnet — Q2 2025 Earnings Presentation
13 slides from Acushnet's earnings presentation, Aug 7, 2025
Slide 1: Second Quarter 2025 Earnings Call
Second Quarter 2025 Earnings Call August 7, 2025
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 2025 outlook, our operations and our financial performance. These forward-looking statements are included throughout this presentation
Slide 3: Q2 and H1 2025 Performance
Q2 and H1 2025 Performance David Maher President and Chief Executive Officer
Slide 4: Q2 and H1 Overview and Net Sales by Segment
Q2 AND H1 OVERVIEW AND NET SALES BY SEGMENT Growth Growth Growth Growth ($ in millions) Q2 2025 Y/Y Y/Y @ CC H1 2025 Y/Y Y/Y @ CC Net sales $720.5 5.4% 4.7% $1,423.8 2.3% 2.9% Adjusted EBITDA(1) $143.1 9.2% $282.0 (0.9)% Segment net sales Golf Balls $262.2 5.9% 5.4% $475.5 4.4% 4.7% Golf Clubs $191.
Slide 5: Q2 and H1 Net Sales by Region
Q2 AND H1 NET SALES BY REGION Growth Growth Growth Growth ($ in millions) Q2 2025 H1 2025 Y/Y Y/Y @ CC Y/Y Y/Y @ CC United States $434.5 6.4% 6.4% $858.7 3.9% 3.9% EMEA $98.6 13.7% 8.0% $202.5 7.5% 6.1% Japan $30.2 1.3% (5.4)% $65.4 (2.4)% (3.7)% Korea $80.1 (4.4)% (1.9)% $146.3 (8.0)% (2.8)% Rest o
Slide 6: Key Highlights
KEY HIGHLIGHTS • Continued healthy participation levels and resilience from the dedicated golfer • Second half product highlights: • Launch of new Titleist T-Series irons • Line extensions to popular FootJoy Hyperflex and Quantum golf shoes • New Scotty Cameron limited release putters • Continuing t
Slide 7: Q2 and H1 2025 Financial Results
Q2 and H1 2025 Financial Results Sean Sullivan Chief Financial Officer
Slide 8: Income Statement Highlights
INCOME STATEMENT HIGHLIGHTS ($ in millions) Q2 2025 Q2 2024 H1 2025 H1 2024 Net sales $720.5 $683.9 $1,423.8 $1,391.4 Gross profit $354.3 $333.5 $691.5 $675.8 GM% 49.2% 48.8% 48.6% 48.6% SG&A $222.0 $207.8 $422.3 $408.8 R&D $18.9 $16.1 $37.8 $32.6 Intangible amortization $3.5 $3.5 $7.0 $7.0 Income f
Slide 9: Balance Sheet and Capital Allocation
BALANCE SHEET AND CAPITAL ALLOCATION ($ in millions) As of 6/30/2025 As of 12/31/2024 Unrestricted Cash $59 $51 Total Debt Outstanding $933 $764 (1) Net Leverage Ratio 2.0x 1.8x Inventory $534 $576 (1) Ratio of average adjusted net funded debt for the prior four fiscal quarters to Adjusted EBITDA fo
Slide 10: 2025 Financial Outlook
2025 FINANCIAL OUTLOOK • Expect 2025 second half sales to increase low-single digits when compared to 2024 • Full-Year 2025 FX headwind expected to be ~$5 million • Gross full-year 2025 tariff impact approximately $35 million • Based on rates announced on August 1st • $5 million impact incurred in t
Slide 11: Q&A
Q&A
Slide 12: Appendix
APPENDIX CLUBGLOVE TPI
Slide 13: Adjusted EBITDA
ADJUSTED EBITDA ($ in millions) Q2 2025 Q2 2024 H1 2025 H1 2024 Net income attributable to Acushnet Holdings Corp. $75.6 $71.4 $174.9 $159.2 Interest expense, net 15.2 14.1 29.0 27.2 Income tax expense 18.6 21.2 40.2 44.6 Depreciation and amortization 14.9 14.0 29.2 27.8 Share-based compensation 8.6