Like their counterparts at Callaway, Acushnet, the parent company of Titleist, FootJoy and Scotty Cameron, reported some pretty impressive numbers this week in their 2021 financial reports.
Owing mostly to the golf boom during the pandemic, Titleist saw sales rise across every category with FootJoy’s footwear component leading the way in terms of percentage growth.
- Acushnet’s full-year net sales reached $2.15 b-b-b-billion, up 33% from 2020 and 30% over 2019.
- On that $2.15 billion, Acushnet’s net profit was just shy of $179 million, up more than 86% over 2020 and more than 48% over 2019.
“Acushnet wrapped up a terrific year, exceeding fourth-quarter expectations as our team once again delivered in a challenging supply-side environment,” David Maher, Acushnet’s president and CEO, said.
Here’s how the big-hitters of Acushnet’s brand shook out:
- Golf ball sales were up 31% over 2020, totaling nearly $668 million.
- Club sales rose 32% to $551 million
- Gear sales (bags, gloves, hats and such) were up 29% to nearly $193 million
- FootJoy sales were up 40% to $580 million.
Acushnet (Titleist, FootJoy parent) announces 2021 net sales at $2.148 billion, up 33.2% year over year, up 28% vs. 2019. Company forecasts 2022 sales to be between $2.175 to $2.225 billion.
— Mike Stachura (@MikeStachura) March 1, 2022
If you recall, Callaway’s net sales were $3.1 billion, which would dwarf Acushnet on the surface, but a key component to keep in mind is that if you took away Topgolf’s billion dollars-plus in sales, the two OEMs are practically neck-and-neck with neither projecting any huge jumps in 2022 as it pertains to their hard goods offerings.
