FAIRHAVEN, MA – November 6, 2020 – 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, 2020.
“I am pleased to report that the positive momentum we saw in June and July for the game of golf and Acushnet products continued throughout the third quarter. Our team remained focused on meeting and exceeding the needs of our trade partners and golfers around the world, all while operating under new safety and social distancing protocols. Our strong third quarter results reflect this focus and commitment,” stated David Maher, Acushnet Company’s President and Chief Executive Officer.
Third Quarter and Year-to-Date 2020 Financial Results
- Third quarter net sales of $482.9 million, up 15.7% year over year, up 15.1% in constant currency
- Year-to-date net sales of $1,191.7 million, down 9.2% year over year, down 8.7% in constant currency
- Third quarter net income attributable to Acushnet Holdings Corp. of $63.2 million, up 112.1% year over year
- Year-to-date net income attributable to Acushnet Holdings Corp. of $74.4 million, down 27.9% year over year
- Third quarter Adjusted EBITDA of $99.2 million, up 77.8% year over year
- Year-to-date Adjusted EBITDA of $185.1 million, down 5.4% year over year