Breaking down the Q2 numbers from Callaway Golf and The Acushnet Co.
Each company experienced sales increases in their core businesses. Callaway’s metal woods sales, driven the company said by Rogue, had 94 million in sales in Q2, an five percent increase vs. Q2 of 2017. For the six months, Callaway reported metal woods sales of $223 million, a 13 percent increase over the same period in 2017.
The Acushnet Co., parent of Titleist an FootJoy, reported balls sales in Q2 increased 11 percent vs. Q2 of 2017 to $172 million, thanks in large part to nationwide sales of the Titleist AVX ball. For the six months, Acushnet reported ball sales of $297 million, a three percent increase compared to the same time in 2017.
Overall, Callaway reported record Q2 sales and earnings: $396 million vs. $305 million in Q2 of 2017; and earnings of 61 million compared to $31 million in Q2 of 2017.
Among the more interesting numbers in Callaway’s top line is its Gear/Accessories category, which did $98 million in sales in Q2 – more than its core metal woods category.
For the six months, Callaway reported sales of $800 million vs. $613 million the same period in 2017, and earnings of $124 million vs. $57 million the same period in 2017.
The Acushnet Co., meanwhile, reported six-months sales of $920 million, a seven percent increase over the same period in 2017, and earnings of $81.4 million, a 14.5 percent increase compared to the same period in 2017.
A few things of note: The sales number for each company represent sell-in numbers, not sell-through numbers at retail. Also, the first six months of every year generally is the high-water mark for sales/earnings for equipment company, so it’s unlikely neither Callaway nor Acushnet will set any record the back half of 2018.
The big question for each is whether or not they top themselves the first six months of 2019.