Oct. 16 at 2:54 PM
WTR Initiates Coverage on Acushnet Holdings (NYSE:
$GOLF)
🔹 Steady Growth Ahead: Forecasting 2025 sales of
$2.51B, up 2.2% Y/Y, driven by continued demand for Titleist and FootJoy, which together represent ~85% of sales.
🔹 Margin Impact from Tariffs: Expecting a 140-bp EBITDA margin impact from tariffs, with management aiming to offset ~90 bps through pricing and cost actions.
🔹 Strong Cash Generation: Averaging 90% FCF conversion over the past five years; balance sheet remains underleveraged at 2x net debt/EBITDA.
🔹 Shareholder Returns: Robust buyback program (~
$250M expected in 2025) continues alongside reinvestment in global brand growth.
With strong brands, disciplined execution, and shareholder-friendly capital allocation, GOLF remains a standout in premium sports equipment. Read Doug Lane's full report for more!
https://www.watertowerresearch.com/doc?docID=IOC_GOLF_07102025
$GOLF #Acushnet #Titleist #FootJoy #SmallCap #Stocks #Investing #SportsBusiness #Earnings #ConsumerDiscretionary #GolfIndustry
