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

Acushnet Holdings Corp.

CIK: 1672013 Ticker: GOLF

Exhibit 99.1

 

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

Declares Quarterly Cash Dividend

Third Quarter and Year-to-Date 2017 Financial Results

·

Third quarter net sales of $347.3 million, up 2.3% year over year, or up 2.9% in constant currency

·

Year-to-date net sales of $1,208.9 million, down 2.7% year over year, or down 2.0% in constant currency

·

Third quarter net income attributable to Acushnet Holdings Corp. of $9.3 million, up $14.8 million year over year

·

Year-to-date net income attributable to Acushnet Holdings Corp. of $80.4 million, up $35.2 million year over year

·

Third quarter Adjusted EBITDA of $32.2 million, up 15.0% year over year

·

Year-to-date Adjusted EBITDA of $182.5 million, down 4.1% 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 – November 8, 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 nine months ended September 30, 2017.

Wally Uihlein, Acushnet President and CEO said, "We are encouraged to see that the global golf industry continues to structurally improve through the first nine months of 2017.  While near term, US demand trends have been impacted as the focus shifted to important life priorities in areas hit by the recent hurricanes, it is good to see many areas are recovering well as a sense of normalcy returns. We are confident that our proven strategy, dedicated associates and valued trade partners will enable us to leverage a stronger industry and extend our success over the long term."      

 

David Maher, Acushnet COO said, "Acushnet delivered a solid third quarter with global growth driven by the United States and South Korea. We are particularly pleased with the recent launch of the Titleist 818 hybrids and the 718 irons including the new AP3. Tour adoption was strong at introduction, the global roll-out with our trade partners was well executed, and initial golfer response to these new golf clubs has been terrific. New Titleist DT TruSoft golf balls, and FootJoy's DNA Helix golf shoes were also launched successfully in the quarter. Looking forward, the Acushnet innovation engine is in high gear and we are excited about the many new product offerings coming from Titleist and FootJoy in 2018."

1


The following information was filed by Acushnet Holdings Corp. (GOLF) on Wednesday, November 8, 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.

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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 (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)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)

Material Contracts, Statements, Certifications & more

Acushnet Holdings Corp. provided additional information to their SEC Filing as exhibits

Ticker: GOLF
CIK: 1672013
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-17-008542
Submitted to the SEC: Wed Nov 08 2017 4:14:24 PM EST
Accepted by the SEC: Wed Nov 08 2017
Period: Saturday, September 30, 2017
Industry: Sporting And Athletic Goods

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