Both Acushnet Holdings Corp. and Topgolf Callaway Brands, the two publicly traded golf equipment companies, released their third-quarter earnings last week, and the results speak to the robust health of the golf equipment sector of the industry.
Topgolf Callaway, parent of the Callaway Golf club and ball business as well as the Odyssey putter brand, reported that golf equipment sales for the first nine months of the year increased 0.3 percent to $1.161 billion compared to the same period in 2024. As importantly, equipment segment operating income increased 7.9 percent to $201 million.
At Acushnet Holdings, parent of the Titleist equipment and FootJoy shoe and apparel brands, year-to-date sales of Titleist equipment were up an impressive 4.9 percent to 1.303 billion, with golf balls accounting for $677.9 million and golf clubs $624.6 million of that total. Acushnet’s metric for profitability, adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) increased 2.2 percent to $400.6 million.
“The specter of tariffs...