Acushnet Sales Rise 7% to $2.56B, EBITDA $410M; Dividend +8.5%
Acushnet reported full-year 2025 net sales of $2.56 billion, up 7%, and adjusted EBITDA of $410 million, despite a 60-basis-point gross margin decline driven by $30 million in tariffs. The company returned $268 million to shareholders, raised its dividend 8.5%, and guides 2026 sales to $2.625–2.675 billion.
1. Full-Year Financial Results
Acushnet reported full-year 2025 net sales of $2.56 billion, up 7% from 2024, with adjusted EBITDA totaling $410 million. Fourth-quarter net sales also rose 7% year-over-year, while quarterly adjusted EBITDA declined to $9.8 million from $12.4 million.
2. Segment Performance
Titleist Golf Equipment grew 6% for the year, driven by a 7% increase in clubs led by T-Series irons, SM10 wedges and Scotty Cameron putters. FootJoy full-year sales dipped 1% but benefited from a mix shift toward premium Premiere and HyperFlex footwear, and gear sales climbed 6%.
3. Margin and Tariff Impact
Gross margin fell 60 basis points to 47.7%, primarily due to $30 million in incremental tariffs. SG&A expenses rose by $33 million excluding one-time benefits, and interest costs increased by $6 million alongside a $17 million debt extinguishment charge.
4. Capital Returns and 2026 Outlook
Acushnet returned $268 million to shareholders in 2025 via $56 million in dividends and $212 million in share repurchases, and raised the quarterly dividend 8.5% to $0.255 per share. Net leverage ended the year at 2.2x, and full-year 2026 net sales are guided to $2.625–2.675 billion.