Acushnet Holdings Corp. reported its full‑year and fourth‑quarter 2025 financial results, posting revenue of $477.2 million that beat the consensus estimate of $453.8 million. The company’s revenue grew 7.2% year‑over‑year, driven by a 5.9% increase in Titleist golf‑equipment sales, which benefited from higher average selling prices and increased golf‑ball volumes.
On the profitability side, Acushnet posted a GAAP earnings‑per‑share loss of $0.58, missing the analyst estimate of $0.30 by 90.5%. The non‑GAAP EPS loss of $0.30 was also slightly worse than the consensus estimate of $0.29. Operating margin contracted to –3.8% from –1.2% in the same quarter a year earlier, and adjusted EBITDA fell to $415 million from $435 million, reflecting higher operating expenses and tariff costs.
Management highlighted the revenue strength while acknowledging profitability headwinds. President and CEO David Maher said, "Our team and partners are ready for 2026 as we look forward to launching a wide range of high‑performance equipment. We remain committed to investing in key initiatives, enhancing our operational and service capabilities, and returning capital to shareholders." He added, "Our strong revenue performance in Q4 reflects the success of our product innovation and strategic initiatives. While we faced challenges with profitability, we remain committed to enhancing our operational efficiencies and delivering value to our shareholders."
Looking ahead, Acushnet guided 2026 net sales to $2.625 billion–$2.675 billion, a 3.6% increase at the midpoint, and adjusted EBITDA to $415 million–$435 million. The company also raised its quarterly cash dividend by 8.5% to $0.255 per share, signaling confidence in cash flow generation.
Analysts reacted with mixed sentiment. KeyBanc downgraded Acushnet from Overweight to Sector Weight in January, citing a rich valuation, while the consensus rating remains Hold with a median price target of $95.0. The market reaction was tempered by concerns over margin compression, but the revenue beat and dividend increase were viewed positively by investors.
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