Golf equipment and apparel company Acushnet (NYSE:GOLF) reported Q1 CY2026 results beating Wall Street’s revenue expectations, with sales up 7.1% year on year to $753 million. The company expects the full year’s revenue to be around $2.65 billion, close to analysts’ estimates. Its GAAP profit of $1.36 per share was 2.5% below analysts’ consensus estimates.
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Acushnet (GOLF) Q1 CY2026 Highlights:
- Revenue: $753 million vs analyst estimates of $723 million (7.1% year-on-year growth, 4.2% beat)
- EPS (GAAP): $1.36 vs analyst expectations of $1.40 (2.5% miss)
- Adjusted EBITDA: $144.6 million vs analyst estimates of $142 million (19.2% margin, 1.8% beat)
- The company reconfirmed its revenue guidance for the full year of $2.65 billion at the midpoint
- EBITDA guidance for the full year is $425 million at the midpoint, in line with analyst expectations
- Operating Margin: 16%, in line with the same quarter last year
- Free Cash Flow was -$162.9 million compared to -$131.5 million in the same quarter last year
- Market Capitalization: $5.49 billion
Company Overview
Producer of the acclaimed Titleist Pro V1 golf ball, Acushnet (NYSE:GOLF) is a design and manufacturing company specializing in performance-driven golf products.
Revenue Growth
A company’s long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but many enduring ones grow for years. Regrettably, Acushnet’s sales grew at a weak 7.9% compounded annual growth rate over the last five years. This fell short of our benchmark for the consumer discretionary sector and is a poor baseline for our analysis.
Long-term growth is the most important, but within consumer discretionary, product cycles are short and revenue can be hit-driven due to rapidly changing trends and consumer preferences. Acushnet’s recent performance shows its demand has slowed as its annualized revenue growth of 4.2% over the last two years was below its five-year trend. We’re wary when companies in the sector see decelerations in revenue growth, as it could signal changing consumer tastes aided by low switching costs. 
We can better understand the company’s revenue dynamics by analyzing its three most important segments: Titleist Balls, Titleist Clubs, and FootJoy, which are 31.1%, 29.7%, and 24.1% of revenue. Over the last two years, Acushnet’s Titleist Balls (golf balls) and Titleist Clubs (golf clubs) revenues averaged year-on-year growth of 5.3% and 8.5% while its FootJoy revenue (apparel) was flat. 
This quarter, Acushnet reported year-on-year revenue growth of 7.1%, and its $753 million of revenue exceeded Wall Street’s estimates by 4.2%.
Looking ahead, sell-side analysts expect revenue to grow 2.8% over the next 12 months, similar to its two-year rate. This projection is underwhelming and suggests its products and services will face some demand challenges.
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Operating Margin
Acushnet’s operating margin has more or less stayed the same over the last 12 months , and we generally like to see margin increases due to economies of scale and cost efficiency over time.
This quarter, Acushnet generated an operating margin profit margin of 16%, in line with the same quarter last year. This indicates the company’s overall cost structure has been relatively stable.
Earnings Per Share
We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.
Acushnet’s EPS grew at a weak 4.4% compounded annual growth rate over the last five years, lower than its 7.9% annualized revenue growth. This tells us the company became less profitable on a per-share basis as it expanded due to non-fundamental factors such as interest expenses and taxes.
In Q1, Acushnet reported EPS of $1.36, down from $1.62 in the same quarter last year. This print missed analysts’ estimates. We also like to analyze expected EPS growth based on Wall Street analysts’ consensus projections, but there is insufficient data.
Key Takeaways from Acushnet’s Q1 Results
We enjoyed seeing Acushnet beat analysts’ revenue expectations this quarter. We were also happy its adjusted operating income outperformed Wall Street’s estimates. On the other hand, its EPS missed and its full-year revenue guidance was in line with Wall Street’s estimates. Zooming out, we think this was a mixed quarter. The stock traded up 2.3% to $96 immediately after reporting.
Big picture, is Acushnet a buy here and now? The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).