In a Feb. 26 conference call with Wall Street analysts, David Maher, president/CEO of Titleist/FootJoy parent Acushnet (GOLF), said his company “is enthused’’ about the overall market, “and really led by what is happening at the golfer base, in the U.S.’’
Acushnet reported 2025 sales of $2.56 billion, up 4.1% year over year. Full year net income was $188.5 million, down $25.8 million year over year.
The company cited $17 million loss on debt extinguishment related to 2025 debt refinancing, an increase in interest expense, net and lower income from operations, partially offset by a noncash pre-tax gain of $20.9 million related to the deconsolidation of a FootJoy golf shoe joint venture, as reasons for earnings decline.
Acushnet forecasts 2026 to be between $2.625 billion and $2.675 billion, representing roughly 3.6% growth at the midpoint, which will include the earlier-than-normal launch of a new Titleist driver.
“We like the fundamentals, industry participants, whether it is golf courses or teaching centers or golf specialty retailers, are financially sound,’’ Maher said. “Structurally, the U.S. market is probably our healthiest around the world; part two to that, it is also benefiting from a very, very strong golfer base, consumer participation, momentum that we have seen over the last handful of years.
“The final point I would add is just in terms of how we think about the market today. It is February, the market is, from an inventory standpoint, where it should be. Inventories are full and vibrant in open markets, and lean and almost dormant in closed markets. That will change here in the next four to six weeks.’’
Maher said Acushnet in 2026 “will prioritize strategic capacity expansion and the build-out of our global fitting networks’’ for golf equipment and footwear, expand B2B and D2C capabilities to new regions, and invest in the future of the Titleist Performance Institute, where demand for TPI’s golf-specific health, fitness, and swing expertise is outpacing our available capacity.
“Collectively, we expect these investments will support our future growth plans and enable operating leverage over the long term.’’
