FootJoy parent Acushnet Holdings posts mixed third quarter results

US group Acushnet Holdings Corp. (Acushnet) reported consolidated net sales of 649.20 million dollars for the third quarter ended September 30, 2026, representing a decrease of 1.3 percent year-over-year (YoY) and a 0.6 percent decline on a constant currency basis. The contraction was primarily driven by volume reductions across its wearable and accessory categories, which were partially balanced by momentum in technical golf ball lines.

Net income attributable to Acushnet rose 1.4 percent to 49.19 million dollars during the three months, compared to 48.51 million dollars in the prior year period. Diluted earnings per share reached 0.83 dollars, up from 0.81 dollars. Adjusted EBITDA dropped 3.3 percent YoY to 114.70 million dollars, resulting in an adjusted EBITDA margin of 17.7 percent, down from 18 percent.

For the third quarter, the FootJoy golf wear division recorded a 7.5 percent drop in net sales to 126.20 million dollars, down 7.1 percent on a constant currency basis. Acushnet attributed this downturn to lower sales volumes across all apparel and footwear product lines, though the decrease was partially offset by higher average selling prices. The Golf gear segment also retreated, with net sales dropping 9.5 percent to 55.40 million dollars, impacted by volume contractions despite pricing strength in golf bags.

Conversely, Titleist golf equipment saw quarterly net sales rise 0.5 percent to 429.80 million dollars, or 1.2 percent in constant currency. Growth was lifted by strong volumes and higher average selling prices for Pro V1 golf balls, alongside deliveries of newly introduced GTS drivers and fairway metals. These gains compensated for lower sales volumes of second model year T-Series irons.

“Continued growth from golf balls contributed to Acushnet’s performance in the third quarter, with net sales down 1% following the accelerated second quarter timing of our GTS metals launch,” stated Acushnet president and chief executive officer David Maher.

“Looking ahead, we are reaffirming our full-year revenue outlook and narrowing our Adjusted EBITDA outlook toward the high end of the range. This outlook and our year-to-date performance reflect the strength of our business and the health of the golf industry,” Maher added.

Across regional operations during the quarter, net sales in the US fell 1.4 percent to 391.60 million dollars, pulled down by a 7.50 million dollar decline in FootJoy golf wear and a 5.50 million dollar drop in Golf gear. Net sales in regions outside the US slipped 1.2 percent on a reported basis to 257.60 million dollars, but gained 0.5 percent in constant currency, supported by gains in EMEA and Japan that counteracted weaker demand in Korea.

Full-year 2026 guidance for consolidated net sales was reaffirmed in the range of 2.65 billion dollars to 2.68 billion dollars, representing constant currency expansion between 3.3 percent and 4.2 percent. The company tightened its full-year adjusted EBITDA projection to between 455 million dollars and 470 million dollars, raising the lower bound from the previously guided 450 million dollars. Acushnet declared a quarterly cash dividend of 0.26 dollars per share, payable on December 18, 2026.