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Acushnet Holdings Corp. (GOLF) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

Acushnet Holdings Corp.

CIK: 1672013 Ticker: GOLF



Exhibit 99.1

Acushnet Holdings Corp. Announces
Year-to-Date and Second Quarter 2019 Financial Results,
Declares Quarterly Cash Dividend
Year-to-Date and Second Quarter 2019 Financial Results
Year-to-date net sales of $895.9 million, down 2.6% year over year, down 0.1% in constant currency
Second quarter net sales of $462.2 million, down 3.3% year over year, down 0.8% in constant currency
Year-to-date net income attributable to Acushnet Holdings Corp. of $73.4 million, down 9.8% year over year
Second quarter net income attributable to Acushnet Holdings Corp. of $38.5 million, down 3.5% year over year
Year-to-date Adjusted EBITDA of $139.9 million, down 10.5% year over year
Second quarter Adjusted EBITDA of $75.7 million, down 4.7% year over year
Cash Dividend and Share Repurchase
Quarterly cash dividend of $0.14 per share; $10.6 million on an aggregate basis for the quarter
Repurchased 253,385 shares of common stock for an aggregate of $6.2 million.
FAIRHAVEN, MA – August 7, 2019 – 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 six and three months ended June 30, 2019.
“Through the first six months of the year, our business has been led by nice gains in Titleist golf balls, Titleist gear and FootJoy golf wear,” said David Maher, Acushnet’s President and Chief Executive Officer. “Our new Pro V1 and Pro V1x models are off to great starts in all global markets, and the Titleist ball count across worldwide professional tours is 73%, more than eight times our nearest competitor.

"Titleist TS drivers have been the most played driver at 28 of 35 events on the PGA Tour this season, validating our TS metals speed platform which delivers terrific ball speed and total game performance", continued Maher. "Gains in Titleist gear were led by strong acceptance of our new stand bags, the largest component of that business, and the new FJ Flex and Fury golf shoes have been well received along with the 2019 FootJoy performance outerwear and apparel lines. We continue to be excited about the second half of the year, as we are set to launch several innovative new products led by our new Titleist T- Series irons, which will arrive in golf shops later this month.

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The following information was filed by Acushnet Holdings Corp. (GOLF) on Wednesday, August 7, 2019 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 Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Shareholders??? Equity (Unaudited)
Accumulated Other Comprehensive Loss, Net Of Tax
Accumulated Other Comprehensive Loss, Net Of Tax (Details)
Accumulated Other Comprehensive Loss, Net Of Tax (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Purchase Commitments (Details)
Common Stock
Common Stock (Details)
Common Stock (Tables)
Debt And Financing Arrangements
Debt And Financing Arrangements (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Effect Of Hedge Instruments In Unaudited Condensed Comprehensive Income (Loss) And Statement Of Operations (Details)
Derivative Financial Instruments - Fair Value Of Hedge Instruments In Unaudited Condensed Consolidated Balance Sheets (Details)
Equity Incentive Plans
Equity Incentive Plans (Tables)
Equity Incentive Plans - Allocation Of Compensation Expense (Details)
Equity Incentive Plans - Narrative (Details)
Equity Incentive Plans - Restricted Stock And Performance Stock Units (Details)
Equity Incentive Plans Equity Incentive Plans - Summary Of Shares Of Common Stock Issued (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)
Leases
Leases (Tables)
Leases - Components Of Lease Cost (Details)
Leases - Future Minimum Rental Payments (Details)
Leases - Reconciliation Of Lease Liabilities (Details)
Leases - Right-Of-Use Assets (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Remaining Lease Term And Weighted Average Discount Rate (Details)
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)
Net 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 (Income) (Details)
Product Warranty
Product Warranty (Details)
Product Warranty (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Geographical Areas (Details)
Segment Information - Reconciliation (Details)
Subsequent Event
Subsequent Event (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: 0001672013-19-000047
Submitted to the SEC: Wed Aug 07 2019 4:21:11 PM EST
Accepted by the SEC: Wed Aug 07 2019
Period: Sunday, June 30, 2019
Industry: Sporting And Athletic Goods

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