Acushnet Q2 2026 Earnings Call Transcript

Quartr
Provided by Quartr
August 6, 2026

Key Takeaways

  • Positive Sentiment: Strong second-quarter performance: Net sales rose 14% to $820 million, while Adjusted EBITDA increased 46%, driven by momentum in Titleist golf equipment, particularly the GTS metals launch.
  • Positive Sentiment: Acushnet raised its full-year outlook to $2.65 billion–$2.675 billion in sales and $450 million–$470 million in Adjusted EBITDA, supported by continued strength in Titleist equipment and healthy golf participation.
  • Negative Sentiment: Management expects second-half sales to decline by low single digits and Adjusted EBITDA to fall year over year, especially in the fourth quarter, because the accelerated GTS launch shifted significant club sales into the second quarter.
  • Neutral Sentiment: The company is investing in golf-ball manufacturing, club assembly, customization, automation, and technology platforms; capacity is near full utilization, with further cast-urethane expansion planned over the next one to two years.
  • Negative Sentiment: Wearables remain soft in Japan and Korea, while higher synthetic rubber, tungsten, freight, and other supplier costs are expected to offset much of the benefit from lower projected tariff expense and refunds.
AI Generated. May Contain Errors.
Earnings Conference Call
Acushnet Q2 2026
00:00 / 00:00

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Operator

I will now hand the conference over to Cameron Vollmuth, Director of Investor Relations. Please go ahead.

Cameron Vollmuth
Cameron Vollmuth
Director of Investor Relations at Acushnet

Good morning, everyone. Thank you for joining us today for Acushnet Holdings Corp.'s Second Quarter 2026 Earnings Conference Call. Joining me this morning are David Maher, our President and Chief Executive Officer, and Sean Sullivan, our Chief Financial Officer. Before turning the call over to David, I would like to remind everyone that we will make forward-looking statements on the call today. These forward-looking statements are based on Acushnet's current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations. For a list of factors that could cause actual results to differ, please see today's press release, the slides that accompany our presentation, and our filings with the U.S. Securities and Exchange Commission. Throughout this discussion, we will make reference to non-GAAP financial measures, including items such as net sales on a constant currency basis and Adjusted EBITDA.

Cameron Vollmuth
Cameron Vollmuth
Director of Investor Relations at Acushnet

Explanations of how and why we use these measures and reconciliations of these items to the most directly comparable GAAP measures can be found in the schedules in today's press release, the slides that accompany this presentation, and in our filings with the U.S. Securities and Exchange Commission. Please also note that references throughout this presentation to year-on-year net sales increases and decreases are on a constant currency basis unless otherwise stated, as we feel this measurement best provides context as to the performance and trends of our business. When referring to year-to-date results or comparisons, we are referring to the six-month period ended June 30th, 2026, and the comparable six-month period in 2025. With that, I'll turn the call over to David.

David Maher
David Maher
President and CEO at Acushnet

Thanks, Cameron. Good morning, everyone. We are pleased to report on Acushnet's strong second quarter and first half results, highlight the investments we are making to strengthen the company for the future, and outline the puts and takes within our second half outlook. For the second quarter, Acushnet delivered worldwide net sales of $820 million, a 14% increase over last year, driven by strength and momentum within Titleist Golf Equipment and steady gains from FootJoy and Golf Gear. This growth contributed to a 46% increase in adjusted EBITDA, which while healthy on its own merits, also reflects the net benefit from tariff refunds. For the first half, Acushnet net sales of $1.57 billion are up 10% over last year, with growth in all reportable segments and regions. Adjusted EBITDA of $353 million represents a 25% increase in the period.

David Maher
David Maher
President and CEO at Acushnet

Fueling these results, the Acushnet team remains focused on the game's avid, dedicated golfer and enthused about healthy industry fundamentals and growing participation. First half rounds of play are projected to be up low single digits with growth in the U.S., Japan, and Korea, offset by modest declines in Europe, which comped against an outsized weather related increase in 2025. As Sean will note, we are making strategic investments in Acushnet's future with focus on golf ball manufacturing and golf club assembly capacity, enhanced customization and automation capabilities, and our global technology platforms. Getting to our segment results, you see continued momentum in our Titleist golf equipment business, which grew 14% in the first half. Golf clubs set the pace up 43% in the quarter and 24% for the half, led by the successful launch of our new GTS line of metals.

David Maher
David Maher
President and CEO at Acushnet

Noteworthy is the good work by our team to accelerate product development and production timelines to move this launch from Q3 into the seasonal peak of Q2. While GTS is the headline within golf clubs, successful new Vokey Design SM11 wedges and Titleist irons also contributed to our growth in the first half. Titleist golf balls also posted a strong half with revenues up 6%, led by Pro V1 growth on top of the challenging comp against last year's launch volumes. On the PGA TOUR, Titleist golf balls have 22 wins to date, 18 more than the nearest competitor, as this pyramid of influence, validation, and success helps to fuel our golf ball momentum in the marketplace. Within the Titleist golf equipment segment, we continue to fuel our success and momentum with our strong commitment to fittings and value-added consumer connections across regions.

David Maher
David Maher
President and CEO at Acushnet

Acushnet's Golf Gear segment is also in good shape, growing 6% in the half, led by double digit gains in Titleist gloves, bags, and our Club Glove travel brand. FootJoy delivered 3% growth in the quarter, led by strong footwear sales, and is up 1% for the half. FJ's underlying fundamentals continue to strengthen with increased focus on premium performance franchises Premiere, HyperFlex, and Pro/SL, generating a favorable product mix shift within footwear and similar trends with FJ apparel, which are helping to offset softness in Japan and Korea. Finally, net sales of products not allocated to a reportable segment were up also with continued momentum and growth from shoes in the U.S. and GB&I. Now looking at our business by region on slide five, you see that all regions increased on a constant currency basis in the second quarter and first half.

David Maher
David Maher
President and CEO at Acushnet

Acushnet's U.S. sales were up 15% in the quarter, driven by growth in Titleist Golf Equipment and the benefits from healthy rounds of play and strong engagement from our core dedicated golfer base.

David Maher
David Maher
President and CEO at Acushnet

EMEA was up 12%, reflecting growth in Titleist Golf Equipment and Golf Gear. Japan was up 31%, driven by Titleist Golf Equipment, notably golf clubs, and continued strength in golf balls. Korea was up 7% in the quarter, also driven by golf equipment and the accelerated GTS metals launch and double-digit footwear gains. Rest of world was up 15% versus last year's second quarter, led by outsized growth in Australia, New Zealand, Southeast Asia, and China. Now looking forward to the second half. Acushnet is well-positioned for the peak summer playing season, and we point to the overall health of the golf industry and our core consumer as baselines for our outlook.

David Maher
David Maher
President and CEO at Acushnet

It is worth noting that second half comps will be impacted by the timing shift associated with our GTS launch into Q2 and the upcoming transition within golf balls as we prepare and build inventories to support our 2027 Pro V1 launch. This club timing makes for a meaningful change to our typical club cadence, while the Pro V1 transition is anticipated to unfold similar to prior every other year launches. In summary, golf industry fundamentals are in good shape, participation is durable and positive trending, and we are pleased with our momentum and new product pipelines as we look to the future. As always, we appreciate the commitment and good work of our associates and supportive partners as we work together to provide golfers with leading product and service experiences. Thanks for your interest this morning. I will now pass the call over to Sean.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Thank you, David. Good morning, everyone. We had a solid second quarter and first half to start 2026, driven by continued momentum in Titleist golf equipment, including the successful launch of our GTS drivers and fairways. Second quarter net sales were up 14% and adjusted EBITDA was $209 million, up $66 million from last year's second quarter. These results include IEEPA tariff refunds, which represented an approximately $38 million benefit to adjusted EBITDA, net of the impact on incentive compensation. For the first half of 2026, net sales increased 9.5% and adjusted EBITDA increased 25%. Excluding the net refund benefit, adjusted EBITDA increased 12% in the first half, ahead of our expectations of high single-digit growth in both net sales and EBITDA during the first half as second quarter GTS metal shipments were greater than anticipated.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Gross profit in the second quarter of $446 million was up $92 million compared to 2025. The increase reflected the portion of the net IEEPA tariff refund recognized in gross profit, as well as higher sales volumes and average selling prices in Titleist golf equipment, partially offset by approximately $11 million of incremental tariff expense in the quarter versus prior year. Second quarter gross margin of 54.4% was up 520 basis points, while first half gross margin was 50.9%, up 230 basis points versus prior year. Excluding the net tariff refund benefit, first half gross margin was 48.1%, down 50 basis points year-over-year. It's worth noting that the first half tariff expense was approximately $29 million more than the first half of 2025.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

SG&A expense of $246 million in the quarter increased $24 million from 2025 as we continue to invest in our fitting network, IT systems, and A&P to support new product launches and future growth, as well as recognizing higher incentive compensation expense related to tariff refunds. Interest expense of $12 million in the quarter was down $3 million due to a decrease in interest rates, as well as interest income on tariff refunds, partially offset by an increase in borrowings. Our effective tax rate in Q2 was 23.6%, up from 19.9% last year, primarily driven by changes in our jurisdictional mix of earnings and a reduced income tax benefit related to the U.S. deduction on foreign derived intangible income. Moving to our balance sheet and cash flow highlights. The strength in our balance sheet and cash flow supports the continued execution of our capital allocation strategy.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Our focus remains on investing in the business to support long-term growth and returning capital to shareholders. Our net leverage ratio at the end of Q2 using average trailing net debt was slightly below 2x, lower than the first quarter level of 2.3x and our stated leverage target of 2.25x. Inventories were flat when compared to last year's second quarter, and we remain comfortable with our inventory quality and position. First half cash flow from operations increased $76 million from the first half of 2025, driven in part by tariff refunds received in Q2. Capital expenditures were $37 million in the first half of 2026, up $12 million from last year, as we continued to invest strategically in additional golf ball manufacturing capacity and increased club assembly to support the sustained strength of demand for our products around the world.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

We still expect full year free cash flow to meaningfully improve year-over-year, converting at roughly 40%-50% of adjusted EBITDA. Through June, we returned roughly $57 million to shareholders, with $31 million in cash dividends and $26 million in share repurchases. Today, our board of directors declared a quarterly cash dividend of $0.255 per share payable on September 18th to shareholders of record on September 4th, 2026. Moving to guidance, we are raising our full year outlook to reflect our solid first half results and the one-time benefit from the net IEEPA tariff refunds. We now expect full year sales to be in the range of $2.65 billion to $2.675 billion, up 4.1% at the midpoint. On a constant currency basis, we are expecting net sales to be up between 3.4% and 4.3%.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

This outlook reflects continued strength in our Titleist Golf Equipment segment, partially offset by softness in wearables, specifically in Asia. We now expect full year adjusted EBITDA to be $450 million to $470 million. This outlook includes a full year net IEEPA tariff refund benefit of approximately $30 million. We continue to work on the implementation of our new cloud-based ERP system and still expect full year SG&A growth, excluding incremental ERP expenses, to be generally in line with our sales growth projections for the year. As it relates to tariffs, we now expect approximately $54 million of tariff expense in 2026, which is $16 million lower than our original estimate of $70 million.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

As we discussed last quarter, we expect this benefit to be largely offset by higher product costs and freight costs, primarily driven by energy-related supplier cost increases, including synthetic rubber pricing in golf ball manufacturing and tungsten costs in golf clubs. Looking at the second half, our outlook reflects continued strength throughout our business. That being said, the timing impacts of the accelerated GTS Metals Launch, which shifted a meaningful amount of Titleist golf equipment sales and earnings into the first half, creates a more challenging comparison in the back half of the year. As a result, we expect second half net sales to be down low single digits and adjusted EBITDA to decline when compared to second half of 2025, with the impact more pronounced in the fourth quarter.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Overall, we're pleased with our first half execution, the performance of the accelerated GTS Metals Launch, and the position of the business heading into the back half of the year. We remain focused on supporting the dedicated golfer, investing for long-term growth, and maintaining a disciplined capital allocation approach. With that, I'll now turn the call over to Cameron for Q&A.

Cameron Vollmuth
Cameron Vollmuth
Director of Investor Relations at Acushnet

Thanks, Sean. Ben, could we now open up the lines for questions?

Operator

We will now begin the question and answer session. Please limit yourself to one question and one follow-up. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. We ask that you pick up your handset when asking a question to allow for optimum sound quality. If you are muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. Your first question comes from the line of Simeon Gutman with Morgan Stanley. Your line is open. Please go ahead.

Simeon Gutman
Simeon Gutman
Analyst at Morgan Stanley

Hey, good morning, guys. My first question is, if you look at golf clubs, which grew $82 million in Q2 on constant currency, I don't know if you said this or not, or you're willing to quantify, but how much is attributable to the timing of pulled up launches? How do you think about the rest of the business in that regard?

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Yes, Simeon. Sean. Yeah, we didn't quantify it. Again, we're just highlighting, as we did on the last call, the impact. Obviously very pleased with north of 40% growth in the quarter. Certainly a little better than we expected in terms of timing. As we look into the back half, hopefully with the guide we've provided, you can understand that at least for clubs, we'll see continued performance in Q3, but the more pronounced comp on clubs will be in Q4, given the accelerated timing if you're comping against the 2024 GTS launch.

Simeon Gutman
Simeon Gutman
Analyst at Morgan Stanley

Okay. Actually, my follow-up is related to that. Again, I missed some of the prepared remarks, so hopefully this is not redundant. If we look, Q2 was much better on sales. The second half, this looks like it's just a street modeling issue because you didn't help us figure out what that launch would look like exactly. Can you talk about your plan and the sequencing of the year, second half, first half, and if any of the pluses or minuses? It sounds like it's all pluses and there's just some timing mismatch in how the street modeled, but that's what I'm looking to clarify.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Yeah, just to clarify, again, last quarter, given the early performance of the launch, we had guided everybody to the high single digits in terms of revenue growth. Obviously it delivered better than that on the top line for the company. Again, the timing was slightly better than expected. As we look at the back half of the year, again, we feel very good about the full year outlook in terms of 4.1% at the midpoint, almost 4% constant currency, and how that converts. Very pleased. Again, we gave you as much as we thought we could at the time on the first quarter call relative to first half. To your point, it's just a timing shift where I think the street consensus had more of a club number in Q3 than what ultimately delivered in Q2 for us. Hopefully that's helpful.

Simeon Gutman
Simeon Gutman
Analyst at Morgan Stanley

Yep. Very clear. Thanks. Thanks, guys. Good luck.

Operator

Your next question comes from the line of Joe Altobello with Raymond James. Your line is open. Please go ahead.

Mitch Ingles
Mitch Ingles
Analyst at Raymond James

Hey everyone, this is Mitch Ingles on for Joe Altobello. My first question is on the $38 million of net IEEPA tariff refunds in 2Q. You're guiding $30 million for the year. Can you help bridge us between those two figures?

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Sure. Happy to, Mitch. It's just a function of our updated outlook. If we take the $460 at the midpoint, in terms of EBITDA, our incentive plans are tied to adjusted EBITDA. Based on the new outlook for the year, expensing the incremental incentive comp over the nine-month period. The $38 reflects what was booked in Q2. The remaining $8 that nets us to $30 will flow through in the second half. The good news is all of the tariff refunds were submitted. They've all been received. I don't expect any incremental refunds in the back half of the year to be material at all. Again, that's a credit to the team in terms of our ability to submit quickly and receive those refunds on a timely basis.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

More than you asked, we will ratably book that incentive comp expense over the back half of the year, which causes the net down to $30 million.

Mitch Ingles
Mitch Ingles
Analyst at Raymond James

Got it. That's helpful. My follow-up is on the GTS launch. How would you characterize the channel inventories today? Do you still say you like where they are right now?

David Maher
David Maher
President and CEO at Acushnet

Yeah, I'll take that, Mitch. It's a good opportunity for us to sort of lean into our custom fitting efforts. Much of what we do in golf clubs nowadays is through custom fitting. The idea of channel inventories, they tend to run pretty steady state. The larger question that we think about often is our ability to meet at once custom demand, which is in good shape. I will say lead times are a little bit longer than our typical lead times, but I think that's just a function of demand. Where we are inventory-wise in the channels, feel very good about it. Again, part two of that is our team's doing a nice job meeting at once demand from our global fitters.

Cameron Vollmuth
Cameron Vollmuth
Director of Investor Relations at Acushnet

Thanks, Mitch. Next question, please.

Operator

Your next question comes from the line of Randy Konik with Jefferies. Your line is open. Please go ahead.

Randy Konik
Randy Konik
Analyst at Jefferies

Thanks, guys. Good morning. On the quality over quantity theme on FootJoy, continued improvement on ASPs. Can you give us some perspective on kind of where we are with margins in that business? Kind of where they've kind of peaked out, where they troughed out, where we are today, any opportunity to continue this quality theme of improving out the door selling price and just managing the inventories better and better to provide a more profitable segment going forward as you've done in the last few quarters? Just curious on where we are there.

David Maher
David Maher
President and CEO at Acushnet

Yeah, Randy, maybe Sean and I will come at this two ways. First off, my comment is much about favorable mix shift towards premium performance, both in footwear and apparel. Fewer closeouts, and just an overall more premium favorable mix within the segment, which is delivering healthy margin trends with the caveat of tariffs. If you look at our business and what was hit the hardest, it would clearly be FootJoy. That's the overall theme when we talk about the structure is improving, and it is. We've got a bit of a headwind that we've dealt with vis-a-vis tariffs, the team's doing a nice job moving through that. Again, if there's a common theme within FootJoy, it's we're seeing a continued trend and shift towards the more premium end of the line.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

Yeah, just Randy, to add to that, you'll see it when we file the Q, on a reported basis, FootJoy's operating margin improved year-over-year by, I think, 100 basis points in the first half. If you normalize for the refunds and the net tariff refund, I think it actually improved by 170 basis points. Certainly pleased with the operating income margin profile of FootJoy and its improvement.

Randy Konik
Randy Konik
Analyst at Jefferies

That's great. We all know that the U.S. is super strong. I think I saw in the release that Korea was slightly positive. I think that area of the world has been down previously. Can you just give us a refresher on international markets, just what you see out there and what you see ahead?

David Maher
David Maher
President and CEO at Acushnet

Yeah. I would say Korea, Japan, first off, starting with rounds of play, total rounds are up in those markets, which is obviously a positive. The theme we're seeing in 2026 mirrors largely what we've seen the last year or two. In our case, balls and clubs, the equipment segment has done quite well. Where we've seen challenges are wearables, apparel, footwear, and also Golf Gear. It's a little bit of a tale of two markets in the sense that equipment, strong, healthy, vibrant, growing, and we've seen some challenges across the wearables line. That played out last year. That continues to play out this year. Just by way of calling out Korea's historically had an outsized apparel market. It's one of the largest apparel markets in the world.

David Maher
David Maher
President and CEO at Acushnet

When it rode up, it was a great thing, and it's been correcting for the last year or so. Moving around the board, Europe, and for us, you may recall a year ago, rounds of play were up dramatically in the first half, and for the year, they had a very mild spring, got off to a fast start. Europe had a very strong year last year. Rounds are down across the U.K. and the mainland, but again, net up over its normalized run rate. That said, we're pleased with our business in the region. You saw the numbers and healthy growth across segments, but certainly affected by the accelerated driver launch.

David Maher
David Maher
President and CEO at Acushnet

Yeah, we're pleased with business around the world, rounds of play being a key proxy for just the health and state of the game, and we continue to confront and navigate softness in wearables across Japan and Korea.

Randy Konik
Randy Konik
Analyst at Jefferies

Thanks, guys.

Cameron Vollmuth
Cameron Vollmuth
Director of Investor Relations at Acushnet

Thanks, Randy.

Randy Konik
Randy Konik
Analyst at Jefferies

Thanks.

Cameron Vollmuth
Cameron Vollmuth
Director of Investor Relations at Acushnet

Operator, next question, please.

Operator

Your next question comes from the line of Gregory Miller with Truist Securities. Your line is open. Please go ahead.

Gregory Miller
Gregory Miller
Analyst at Truist Securities

Thanks. Good morning. First question I'd like to ask you about material costs and how they've trended relative to your prior expectations.

David Maher
David Maher
President and CEO at Acushnet

They've moderated a bit, Greg. I think in terms of synthetic rubber, again, still slightly volatile in light of the oil markets. I think the cost of tungsten has moderated slightly relative to where we were maybe 90 days ago. We continue to see slightly elevated distribution, freight in, freight out, et cetera. Continuing to monitor, continuing to manage supply as best we can in light of the macro environment. It's marginally better than maybe where it was 90 days ago, but still a lot of uncertainty.

Gregory Miller
Gregory Miller
Analyst at Truist Securities

Okay, thanks. My second question, I wanted to ask for an update in terms of your CapEx spend as it relates to the plant utilization, given that your ball plants are running at very high capacity levels at this point. I'm just curious if you could provide us the latest in terms of your progress on that front.

David Maher
David Maher
President and CEO at Acushnet

Yeah. You're right, we are running at near full capacity in our plants. We've been in the midst, or really started four or five years ago, of adding capacity, notably in cast urethane and converting lines into more cast urethane capacity. We feel very good about the work we've done the last four or five years that have allowed us to deliver the results we're delivering today. We see, in the next year or two, continued expansion, mainly within cast urethane, in both our Massachusetts and Thailand ball plants. I don't see our capacity as a constraint today. We're optimistic on the good work that's happening. I will just add, it takes a while, right? When you make the decision to add capacity, it can take 12 to 18 months to get new lines up and running just from a machinery standpoint.

David Maher
David Maher
President and CEO at Acushnet

We're far downfield on wave one, and we're in flight on wave two in terms of managing and adjusting our capacity with a shift and tilt more towards cast urethane, which in our case is the broader Pro V1 lines.

Gregory Miller
Gregory Miller
Analyst at Truist Securities

Great. Thank you very much.

Cameron Vollmuth
Cameron Vollmuth
Director of Investor Relations at Acushnet

Thanks, Greg. Operator, next question, please.

Operator

Your next question comes from the line of Matthew Boss with JPMorgan. Your line is open. Please go ahead.

Matthew Boss
Matthew Boss
Analyst at JPMorgan

Great, thanks. David, could you speak to larger picture health of the golf industry versus company specific execution? Meaning on the 20% growth in total golf equipment, if there's a way to elaborate on underlying demand and reception to the GTS Metals launches and performance on the ball side relative to initial plan, I think that that would be helpful just to pull out any launch timing benefit. Secondly, any changes at all to your underlying plan in the back half across segments, again, outside of any launch timing shifts?

David Maher
David Maher
President and CEO at Acushnet

Yeah. Hi, Matt. Here we go. I'll start with high level view of the game. We talked about rounds of play up low single digits, up 4% in the U.S., far and away the largest market. Couple of callouts that I found interesting vis-a-vis rounds of play would be the National Golf Foundation carves up the country into eight regions, every region is up year to date, which is unusual because typically you've got an outlier weather pattern that's going to affect one region over another. I think that speaks to the structural health of the game. The other piece I'd add is they track public and private access, public play, which is about 75% or so of total rounds in the U.S. is up at a greater rate than private play. Again, I think a sign of broad-based health of the game.

David Maher
David Maher
President and CEO at Acushnet

We always track, and we pay close attention to just the cost of public play, and you can imagine it's a wide range. It's up about 4% year-to-date. NGF has it at about $47 per round. While up, still, there's still affordable golf out there. High level, and that's a U.S.-centric comment. Game is healthy. To our business, Matt. Obviously very pleased on many fronts, and I would say the highlights would be in the equipment segment, right? Anytime we can grow our ball business on a year following a Pro V1 launch, that's a positive. That's happened this year. Ball sales up 6%. We feel great about that. Really, I called it out on my remarks, the ability and good work of our team to move a launch from Q3 into Q2, on one hand, it sounds simple.

David Maher
David Maher
President and CEO at Acushnet

It's anything but, because it affects product development timelines, supply chains, assembly, et cetera. Our team did a really nice job. Very pleased on the ball side of the house, very pleased on the club launch side of the house and the early response. Separate from that, if I look at our wearables business around the world, FootJoy, Titleist apparel in Asia, shoes around the world, and gear business steady with some pockets of softness that I called out. Matt, that's a very high-level view of our business, and I would lean into we're particularly pleased with the strength and early success of balls and clubs equipment in the first half of the year.

David Maher
David Maher
President and CEO at Acushnet

In terms of what maybe has changed for back-half of the year, I think Sean called it out, and we're trying to be very prescriptive to help you do the modeling around what really is the outlier, and that's going to be clubs, right? I think balls, FootJoy, gear, et cetera, should be fairly similar to last year's in terms of their modeling and their growth. The outlier for us in the second-half is really a club story, and that's a function of we moved a lot of volume from Q3, Q4 last year into Q2 of this year. Really high-level. Gave you a lot of information there, I realize. Any follow-ons to that? Did I get at your question, Matt?

Matthew Boss
Matthew Boss
Analyst at JPMorgan

Yeah, you did. The only follow-on is just outside of any timing launches, if we're looking at that golf equipment segment in the back-half of the year. Just wanted to make sure there wasn't anything outside of launch timing that's changed in your plan.

Sean Sullivan
Sean Sullivan
CFO at Acushnet

No. Matt, this is Sean. It's largely as we described. It's a shift from Q3 into Q2 for the clubs business. Everything else is as expected.

Matthew Boss
Matthew Boss
Analyst at JPMorgan

Great color. Best of luck.

David Maher
David Maher
President and CEO at Acushnet

Thank you.

Operator

There are no further questions at this time. I will now turn the call back to David Maher for closing remarks.

David Maher
David Maher
President and CEO at Acushnet

Thanks, everybody. As always, we appreciate your interest in Acushnet and look forward to following up in following the third quarter. Have a great rest of summer.

Operator

This concludes today's call. Thank you for attending. You may now disconnect.

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