Every material Form 8-K Acushnet filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Acushnet Holdings entered an agreement on December 17, 2024 to repurchase up to $62.5 million of its common stock from Magnus Holdings Co., Ltd., as part of its existing $1.0 billion repurchase authorization. Shares will be bought on a share-for-share basis, with pricing based on the average price paid over each pricing period, and the arrangement ends by June 30, 2025 if not completed earlier.
Up to $62.5 million of common stock to be purchased from Magnus Holdings Co., Ltd.
Pricing starts January 2, 2025, using the average purchase price over each pricing period.
Final determination date is June 30, 2025, if the $62.5 million is not already purchased.
Purchases are conditioned on no material adverse effect on the Company's business or financial condition.
Acushnet reported third-quarter 2024 net sales of $620.5 million, up 4.6% year over year, and Adjusted EBITDA of $107.4 million, up 8.7%. Net income attributable to Acushnet was $56.2 million, down 1.9%, while diluted EPS rose to $0.89 from $0.85. The company reaffirmed its full-year net sales guidance and raised the low end of its full-year Adjusted EBITDA range, which now sits at $395 million to $405 million.
Q3 net sales $620.5 million, up 4.6% (5.0% in constant currency), driven by Titleist golf clubs, which rose 18.2%
Q3 net income attributable to Acushnet $56.2 million, down 1.9%; diluted EPS $0.89 vs. $0.85 a year earlier
Full-year 2024 Adjusted EBITDA now expected at $395 million to $405 million, compared with $385 million to $405 million previously
Full-year 2024 net sales guidance of $2,450 million to $2,500 million reaffirmed; quarterly dividend of $0.215 per share payable December 20, 2024
On August 9, 2024, Magnus Holdings, a wholly owned unit of Fila Holdings, sold 1,110,000 shares of Acushnet common stock in a Rule 144 transaction. Fila said the sale was for liquidity purposes and that it plans to keep its majority stake. After the sale, Magnus owned 50.7% of Acushnet's outstanding common stock, and it agreed to a 30-day lock-up on its remaining shares, subject to certain exceptions.
Magnus sold 1,110,000 shares of Acushnet common stock on August 9, 2024.
Magnus beneficially owned 50.7% of outstanding common stock after the sale.
Magnus agreed to a 30-day lock-up on its shares, subject to certain exceptions (Exhibit 10.1).
Fila said the sale was for liquidity purposes and that it plans to retain its majority stake.
Acushnet Holdings reported second-quarter 2024 results in which net sales and net income both fell year over year, while Adjusted EBITDA was nearly flat at $131.0 million. The company reaffirmed its full-year 2024 outlook and declared a quarterly dividend of $0.215 per share. For shareholders, the quarter shows lower sales and profit, while the first six months show sales up 1.1% but net income down 5.2%.
Q2 net sales were $683.9 million, down 0.8% year over year and up 0.6% in constant currency.
Q2 net income attributable to Acushnet was $71.4 million, down 4.4%, primarily due to higher interest expense, net.
Full-year 2024 outlook reaffirmed: net sales of approximately $2,450 million to $2,500 million and Adjusted EBITDA of approximately $385 million to $405 million.
Quarterly dividend of $0.215 per share is payable September 20, 2024, to holders of record on September 6, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Acushnet filing is on SEC EDGAR ↗. 8-K briefs of other companies →