Acushnet Holdings Corp. (GOLF) SEC Filings & Earnings Calls

Dependence on tariff refunds for earnings boost; non-recurring nature may distort underlying profitability.

“Net income and adjusted EBITDA favorably impacted by IEEPA tariff refunds.”

FootJoy footwear segment weakness on constant currency basis

“FootJoy golf wear net sales down 1.3% constant currency due to lower footwear volumes.”

Net income decline due to prior year non-cash gain

“Net income down 18.1% primarily due to $20.9M non-cash gain in Q1 2025 from FootJoy joint venture deconsolidation.”

Tariff cost pressure on margins

“These increases in gross profit also include the impact of higher tariff costs due to the tariff measures discussed previously.” · word for word

Bitcoin price volatility impacting financial results

“Losses on digital assets were $295.7 million and $112.4 million for the three months ended March 31, 2026 and 2025, respectively.”

High stock-based compensation expense

“Stock-based compensation $ 50,874”

Securities litigation and derivative suits

“In February and March 2024, two purported securities class actions were filed... The Company disputes the claims in these cases and intends to vigorously defend against them.”

Controlled company risk; majority owner Magnus (50.4%) can control shareholder votes

“Magnus beneficially owned and had the right to vote 29,523,653 shares of our common stock (representing approximately 50.4% of the voting power).” · word for word

Tariff exposure; management cited 'rapidly evolving tariff landscape' impacting 2025 results

“The Compensation Committee also considered the unexpected and significant impact of a rapidly evolving tariff landscape throughout 2025, including the individual and collective efforts of the named executive officers to manage and mitigate the effects of those tariffs on the Company's business and results of operations.”

Weather dependency

“Weather conditions determine the number of playable days in a year and thus influence the amount of time people spend on golf.” · word for word

Discretionary spending sensitivity

“Golf products, including clubs, shoes, balls and accessories, are recreational in nature and are therefore discretionary purchases for consumers.” · word for word

Net income decline due to debt extinguishment loss and higher interest expense.

“Net income down $25.8M; loss on debt extinguishment $17.0M.”

FootJoy segment weakness with sales decline.

“FootJoy golf wear net sales down 0.8% due to lower footwear volumes.”

Dependence on Myre for manufacturing; geopolitical risk in Vietnam.

“Manufacturing in Vietnam exposes to trade and political risks.”

Debt refinancing reduces near-term maturity risk but may increase leverage if new debt is taken on.

“Redemption of 2028 Notes and entry into new credit agreement; no specific financial impact quantified.”

Refinancing subject to market conditions; credit agreement amendment not finalized.

“Consummation subject to market and other customary conditions; credit agreement amendment subject to final negotiation.”

Refinancing risk if conditions not met, but customary.

“Consummation subject to customary closing conditions.”

Tariff cost pressure

“These changes in gross profit also include higher tariff costs due to the tariff measures discussed previously.” · word for word

Currency fluctuation

“Net sales in Japan decreased 11.5% (13.4% constant currency), indicating FX headwinds.”

Product mix shift

“The increase in gross profit was primarily due to the higher sales volumes and higher average selling prices discussed previously, partially offset by an unfavorable shift in product mix.” · word for word

Net income decline due to higher tax expense, despite operational improvement.

“Net income attributable to Acushnet Holdings Corp. decreased 13.7% to $48.5 million, year over year, primarily as a result of an increase in income tax expense” · word for word