Last10K.com

Acushnet Holdings Corp. (GOLF) SEC Filing 10-Q Quarterly report for the period ending Friday, June 30, 2017

Acushnet Holdings Corp.

CIK: 1672013 Ticker: GOLF

Exhibit  99.1

Acushnet Holdings Corp. Announces
Second Quarter and Year-to-Date 2017 Financial Results,

Declares Quarterly Cash Dividend

Second Quarter and Year-to-Date 2017 Financial Results

·

Second quarter net sales of $428.0 million, down 7.6% year over year, or down 6.6% in constant currency

·

Year-to-date net sales of $861.6 million, down 4.6% year over year, or down 3.8% in constant currency

·

Second quarter net income attributable to Acushnet Holdings Corp. of $33.0 million, up $5.9 million year over year

·

Year-to-date net income attributable to Acushnet Holdings Corp. of $71.1 million, up $20.4 million year over year

·

Second quarter Adjusted EBITDA of $71.8 million, down 13.5% year over year

·

Year-to-date Adjusted EBITDA of $150.3 million, down 7.4% year over year

Quarterly Cash Dividend

·

Declares quarterly cash dividend of $0.12 per share; $8.9 million on an aggregate quarterly basis

FAIRHAVEN, MA – August 11, 2017

–  Acushnet Holdings Corp. (NYSE: GOLF) ("Acushnet"), a global leader in the design, development, manufacture and distribution of performance-driven golf products, today reported financial results for the three and six months ended June 30, 2017.

Wally Uihlein, Acushnet President and CEO, said, "We are encouraged by what we continue to view as improving structural stability of the golf industry and believe that the broad rationalization is a positive for the commerce of golf.  Near term, the industry is experiencing the effects of the US retail correction as well as the impact of unfavorable weather on rounds played, but we believe that the longer term forecast remains bright.  The dedicated golfer has been Acushnet’s primary focus and our proven strategy to address their needs is the key to our ongoing success.  We remain optimistic about the future and our ability to strengthen our market positions over time."    

 

David Maher, Acushnet COO, said, "The U.S. retail channel correction and the impact of weather on rounds and fittings have been near term realities affecting the golf industry and our business.  Acushnet associates are executing well while navigating these headwinds.  The growing strength of the ProV1 franchise, Titleist gear and the success of the FootJoy Pro/SL golf shoes are great examples of how we continue to fortify our positions on multiple fronts as we work closely with our trade partners to deliver value added products to dedicated golfers.  We are excited about our upcoming new product introductions and we are looking forward to building upon our brand momentum in the back half of the year."        

1


The following information was filed by Acushnet Holdings Corp. (GOLF) on Friday, August 11, 2017 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Acushnet Holdings Corp.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Acushnet Holdings Corp..

Continue

Assess how Acushnet Holdings Corp.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Acushnet Holdings Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (unaudited)
Condensed Consolidated Balance Sheets (unaudited) (parentheticals)
Condensed Consolidated Statement Of Shareholders??? Equity (unaudited)
Condensed Consolidated Statements Of Cash Flows (unaudited)
Condensed Consolidated Statements Of Comprehensive Income (loss) (unaudited)
Condensed Consolidated Statements Of Operations (unaudited)
Accumulated Other Comprehensive Income (loss), Net Of Tax
Accumulated Other Comprehensive Income (loss), Net Of Tax (details)
Accumulated Other Comprehensive Income (loss), Net Of Tax (tables)
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Contingencies And Litigation (details)
Commitments And Contingencies - Purchase Commitments (details)
Debt And Financing Arrangements
Debt And Financing Arrangements (tables)
Debt And Financing Arrangements - Schedule Of Debt And Financing Arrangements (details)
Debt And Financing Arrangements - Senior Secured Credit Facility (details)
Derivative Financial Instruments
Derivative Financial Instruments (tables)
Derivative Financial Instruments - Effect Of Foreign Exchange Derivative Instruments In Comprehensive Income (loss) And Statement Of Operations (details)
Derivative Financial Instruments - Fair Value Of Foreign Exchange Derivative Instruments In Consolidated Balance Sheets (details)
Equity Incentive Plans
Equity Incentive Plans (tables)
Equity Incentive Plans - Restricted Stock And Restricted Stock Units (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Assets And Liabilities At Fair Value (details)
Income Taxes
Income Taxes (details)
Inventories
Inventories (details)
Inventories (tables)
Net Income Per Common Share
Net Income Per Common Share (tables)
Net Income Per Common Share - Calculation Of Diluted Weighted Average Common Shares Outstanding (details)
Nets Income Per Common Share - Computation Of Basic And Diluted Net Income Per Common Share (details)
Pension And Other Postretirement Benefits
Pension And Other Postretirement Benefits (tables)
Pension And Other Postretirement Benefits - Periodic Benefit Cost (details)
Product Warranty
Product Warranty (details)
Product Warranty (tables)
Related Party Transactions
Related Party Transactions (details)
Segment Information
Segment Information (tables)
Segment Information - Reconciliation (details)
Subsequent Events
Subsequent Events - Dividends (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Ticker: GOLF
CIK: 1672013
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-17-006573
Submitted to the SEC: Fri Aug 11 2017 4:04:49 PM EST
Accepted by the SEC: Fri Aug 11 2017
Period: Friday, June 30, 2017
Industry: Sporting And Athletic Goods

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/golf/0001558370-17-006573.htm