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Acushnet Holdings Corp. (GOLF) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Acushnet Holdings Corp.

CIK: 1672013 Ticker: GOLF


Exhibit 99.1

Acushnet Holdings Corp. Announces
First Quarter 2021 Financial Results

First Quarter 2021 Financial Results
First quarter net sales of $580.9 million, up 42% year over year, up 38% in constant currency; up 34% compared to 2019
First quarter Titleist Brand equipment and gear net sales up 51% year over year and 38% vs. 2019. FootJoy Brand net sales up 22% year over year and 13% vs. 2019.
First quarter net income attributable to Acushnet Holdings Corp. of $85.0 million, up 855% year over year and up 144% compared to 2019
First quarter Adjusted EBITDA of $135.3 million, up 156% year over year and up 111% compared to 2019

FAIRHAVEN, MA – May 6, 2021
– 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 months ended March 31, 2021.
“Acushnet is off to a promising start to 2021 as demand for all Acushnet product categories is strong and rounds of play momentum continues. Exceptional validation of new Titleist Pro V1 and Pro V1x golf balls, TSi drivers and FootJoy golf shoes on the worldwide professional tours carries over into strong sell-through and market momentum. Our gear and performance wearables businesses are also in great shape. Sales growth across all segments was fueled by our Product Development teams and the outstanding execution of our Operations teams by keeping pace with strong consumer demand,” said David Maher, Acushnet Company’s President and Chief Executive Officer. “As reflected by our first quarter results, our supply chain is holding up well, and we are confident that our teams will always strive to deliver the highest quality products and service to our trade partners and golfers.”

Maher continued, “I am extremely proud of the continued dedication and agility that the Acushnet team has demonstrated in the current environment. We are well positioned for the future thanks to their hard work and resilience.”






1

The following information was filed by Acushnet Holdings Corp. (GOLF) on Thursday, May 6, 2021 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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Acushnet Holdings Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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Inside Acushnet Holdings Corp.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Condensed Consolidated Statements Of Shareholders??? Equity (Unaudited)
Accounts Receivable
Accounts Receivable (Details)
Accounts Receivable (Tables)
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 - Purchase Commitments (Details)
Common Stock
Common Stock (Tables)
Common Stock - Dividends And Share Repurchase Program (Details)
Common Stock - Schedule Of Share Repurchase Activity (Details)
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)
Derivative Instruments And Hedging Activities - Effect Of Hedge Instruments In Unaudited Condensed Comprehensive Income (Loss) (Details)
Derivative Instruments And Hedging Activities - Narrative (Details)
Equity Incentive Plans
Equity Incentive Plans (Tables)
Equity Incentive Plans - Allocation Of Compensation Expense (Details)
Equity Incentive Plans - Compensation Expense Recorded In The Consolidated Statement Of Operations (Details)
Equity Incentive Plans - Narrative (Details)
Equity Incentive Plans - Restricted Stock And Performance Stock Units (Details)
Equity Incentive Plans - Summary Of Shares Of Common Stock Issued (Details)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
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)
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 (Details)
Pension And Other Postretirement Benefits (Tables)
Product Warranty
Product Warranty (Details)
Product Warranty (Tables)
Restructuring And Related Activities (Tables)
Restructuring Charges
Restructuring Charges - Additional Information (Details)
Restructuring Charges - Restructuring Liabilities Recognized On Balance Sheet (Details)
Restructuring Charges - Schedule Of Company's Restructuring Program Rollforward (Details)
Segment Information
Segment Information (Tables)
Segment Information - Geographical Areas (Details)
Segment Information - Reconciliation (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Narrative (Details)

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: 0001672013-21-000035
Submitted to the SEC: Thu May 06 2021 4:26:28 PM EST
Accepted by the SEC: Thu May 06 2021
Period: Wednesday, March 31, 2021
Industry: Sporting And Athletic Goods

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