Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37935 Acushnet Holdings Corp. (Exact name of registrant as specified in its charter) Delaware 45-2644353 (State or other ju ...

Financial Data and Key Metrics Changes - Consolidated net sales for Q1 2023 were $686 million, representing a 17% year-over-year increase [30][32] - Net income attributable to Acushnet Holdings was $93 million, up 15% compared to 2022 [32] - Adjusted EBITDA was $147 million, reflecting a 22% increase from the prior year [32] - SG&A expenses increased by 14% to $223 million, primarily due to higher selling and advertising expenses [31] - Gross profit for Q1 was $366 million, up 15% year-over-year, with gross margins at 53.3%, an increase of 100 basis points [59] Business Line Data and Key Metrics Changes - Titleist golf balls saw a 21% increase in sales, driven by the successful launch of new Pro V1 and Pro V1x models [24][30] - Titleist golf clubs reported a 16% increase in sales to $181 million [17] - FootJoy sales increased by 8% to $205 million, with double-digit growth in FJ apparel [18] - Titleist gear experienced a significant growth of 57% for the quarter [26] Market Data and Key Metrics Changes - The U.S. market grew by 25% in Q1, with all segments contributing to this growth [55] - Golf participation remains healthy globally, with U.S. rounds flat despite adverse weather conditions [19][19] - Japan and Korea showed mixed results, with Japan experiencing low single-digit growth and Korea seeing a slight decline [94] Company Strategy and Development Direction - The company is focused on product innovation and operational excellence, with ongoing investments in CapEx expected to reach $75 million for the year [35][64] - Acushnet aims to maintain its premium positioning in the market, with a strong emphasis on fitting and customization to enhance consumer experience [124][108] - The company is confident in its ability to navigate macroeconomic pressures and is committed to delivering strong free cash flow and returning capital to shareholders [36][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the golf industry and the dedicated golfer demographic, which has shown stability even during economic downturns [29][108] - The company anticipates steady demand for its products and is maintaining its guidance for the full year, expecting consolidated net sales to be between $2.325 billion and $2.375 billion [67][68] - Management noted that while there are headwinds from higher input costs, they expect to benefit from lower freight rates [38][66] Other Important Information - The company has a leverage ratio of 1.8 times, with total debt at approximately $829 million [33][61] - Cash flow from operations improved to an outflow of $86 million compared to $164 million in the prior year [63] - The company repurchased approximately 2.5 million shares for about $116 million during Q1 [65] Q&A Session Summary Question: Competitive backdrop for golf clubs and pricing trends - Management noted that they are pleased with the performance of the TSR lineup and anticipate competitive activity in the market [41][42] Question: Long-term expense savings from IP purchase - Management confirmed that the shift to an owned model has resulted in cost benefits, with amortization impacting the P&L positively [75] Question: Trends in consumer behavior during economic uncertainty - Management indicated that dedicated golfers tend to be resilient, with minimal trade-down behavior observed [108] Question: Improvement in retail sales moving into April - Management reported stable retail conditions, with no significant deviations from previous trends [110] Question: Demographic trends driving golf participation - Management highlighted the growth in junior and female golfers as positive trends for the sport [93][121]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37935 Acushnet Holdings Corp. (Exact name of registrant as specified in its charter) Delaware 45-2644353 (State or other j ...

Indebtedness and Interest Rates - The company reported outstanding indebtedness of $566.6 million at variable interest rates as of December 31, 2022, with a sensitivity analysis indicating a potential increase of $5.7 million in annual pre-tax interest expense for a one percentage point increase in interest rates [382]. Foreign Exchange Contracts - The gross U.S. dollar equivalent notional amount of foreign exchange forward contracts outstanding was $246.4 million as of December 31, 2022, with a net settlement asset of $3.6 million, which could decrease by $17.9 million if the U.S. dollar weakened by 10% against all currencies covered [387]. Raw Material and Input Costs - The company experienced increased raw material and input costs due to inflation during the year ended December 31, 2022, compared to the previous year, which could materially impact future financial results if the inflationary environment persists [392].

Acushnet Holdings Corp. (NYSE:GOLF) Q4 2022 Earnings Conference Call March 1, 2023 8:30 AM ET Company Participants Sondra Lennon - Vice President, Financial Planning & Analysis David Maher - President & Chief Executive Officer Tom Pacheco - Executive Vice President, Chief Financial Officer and Chief Accounting Officer Conference Call Participants Daniel Imbro - Stephens Inc. Michael Swartz - Truist Securities Joseph Altobello - Raymond James George Kelly - ROTH Capital Operator Good morning or good afternoo ...

Acushnet Holdings Corp. (NYSE:GOLF) Q3 2022 Earnings Conference Call November 3, 2022 8:30 AM ET Company Participants Sondra Lennon - Vice President of Financial Planning and Analysis and Investor Relations David Maher - President and Chief Executive Officer Thomas Pacheco - Executive Vice President, Chief Financial Officer and Chief Accounting Officer Conference Call Participants Daniel Imbro - Stephens Inc. Casey Alexander - Compass Point Research & Trading, LLC George Kelly - ROTH Capital Partners, LLC M ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37935 Acushnet Holdings Corp. (Exact name of registrant as specified in its charter) Delaware 45-2644353 (State or other jurisdiction of incorporation or organization) Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For ...

Acushnet Holdings Corp. (NYSE:GOLF) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET Company Participants Sondra Lennon - Vice President of Financial Planning and Analysis and Investor Relations David Maher - President and Chief Executive Officer Thomas Pacheco - Executive Vice President, Chief Financial Officer and Chief Accounting Officer Conference Call Participants Kevin Heenan - JPMorgan Chase & Co. Daniel Imbro - Stephens Inc. Casey Alexander - Compass Point Research & Trading, LLC Brian Har ...

ACUSHNET HOLDINGS CORP. Second Quarter 2022 Earnings Call August 4, 2022 DISCLAIMERS FORWARD-LOOKING STATEMENTS The forward-looking statements contained in this presentation are based on management's current expectations, including our current views with respect to the impact of the novel coronavirus ("COVID-19") on our operations and financial performance, and are subject to uncertainty and changes in circumstances. We cannot assure you that future developments affecting us will be those that we have antic ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37935 Acushnet Holdings Corp. (Exact name of registrant as specified in its charter) Delaware 45-2644353 (State or other ju ...