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Acushnet Holdings Corp. (GOLF) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

SEC Filings

GOLF Quarterly Reports

Acushnet Holdings Corp.

CIK: 1672013 Ticker: GOLF


Exhibit 99.1

Acushnet Holdings Corp. Announces
First Quarter 2022 Financial Results

First Quarter 2022 Financial Results
First quarter net sales of $606.1 million, up 4.3% year over year, up 7.6% in constant currency
First quarter net income attributable to Acushnet Holdings Corp. of $81.0 million, down 4.7% year over year
First quarter Adjusted EBITDA of $120.0 million, down 11.3% year over year
Share repurchase program authorization increased by $150.0 million in April

FAIRHAVEN, MA – May 5, 2022
– Acushnet Holdings Corp. (NYSE: GOLF) ("Acushnet"), the 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, 2022.
“I am pleased to report that Acushnet delivered a solid first quarter with constant currency sales up 8%, as our team continues to effectively manage supply chain challenges affecting each of our businesses. This growth was led by FootJoy, up double digits across all product categories, and Titleist clubs, driven by the successful launch of new Vokey SM9 wedges and continuing success of T-Series irons,” said David Maher, Acushnet’s President and Chief Executive Officer.
Mr. Maher continued, “We are excited for our innovative product lineup in 2022, which began with successful launches in the first quarter led by new Titleist AVX and Velocity golf balls, Vokey Design SM9 wedges, FootJoy Tour Alpha and FJ Fuel golf shoes, and new performance apparel collections from FJ and KJUS.
I would like to thank my fellow associates for their dedication and commitment, and our valued trade partners who continue to take great care of golfers while meeting strong interest in the game. We believe the golf industry is structurally healthy and are pleased with the initial response to our 2022 product offerings. Looking forward, we are enthused by the game’s momentum as the golf season opens up in northern markets and anticipate that our supply side environment will improve over the course of the year.”




1

The following information was filed by Acushnet Holdings Corp. (GOLF) on Thursday, May 5, 2022 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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Assess how Acushnet Holdings Corp.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Acushnet Holdings Corp.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

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

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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 (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)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (Details)
Allowance For Doubtful Accounts (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Purchase Commitments (Details)
Common Stock
Common Stock (Tables)
Common Stock - Dividends (Details)
Common Stock - Schedule Of Share Repurchase Activity (Details)
Common Stock - Share Repurchase Program (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)
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: 0001672013-22-000027
Submitted to the SEC: Thu May 05 2022 4:15:36 PM EST
Accepted by the SEC: Thu May 05 2022
Period: Thursday, March 31, 2022
Industry: Sporting And Athletic Goods

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