Net income was 12% higher at $74,655,000 versus $66,454,000 as the Titleist, FootJoy, and Kjus parent achieved 5% revenue growth to $689,363,000 from $658,599,000 for the quarter ended June 30. The group’s adjusted EBITDA increased by 24% to $132.1 million and the adjusted EBITDA margin jumped 300 basis points to 19.2%. Lower year-over-year freight costs contributed to a 130 basis point improvement in gross margin to 53.5%.

Results benefitted from a strong performance in the U.S. and from its golf ball and club segments. Conversely, Acushnet reported lower year-over-year sales in the ... Log in to view full article.