Acushnet Holdings Corp, Inc. (NYSE:GOLF) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET

Company Participants

Sondra Lennon - VP, Financial Planning & Analysis

David Maher - President, CEO & Director

Thomas Pacheco - EVP, CFO & CAO

Conference Call Participants

Kevin Heenan - JPMorgan Chase & Co.

Brian Harbour - Morgan Stanley

George Kelly - ROTH Capital Partners

Casey Alexander - Compass Point Research & Trading

Operator

Good day, and thank you for standing by. Welcome to the Acushnet Holdings Corp. Q1 2022 Earnings Call. [Operator Instructions].

I will now hand the conference over to your first speaker today, Sondra Lennon, you may begin.

Sondra Lennon

Good morning, everyone. Thank you for joining us today for Acushnet Holding Corp.'s First quarter 2022 Earnings Conference Call. Joining me this morning are David Maher, our President and Chief Executive Officer; and Tom Pacheco, our Chief Financial Officer.

Before turning the call over to David, I would like to remind everyone that we will be making 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 metrics, including items such as revenues at constant currency and adjusted EBITDA. Explanations of how and why we use these metrics and reconciliations of these items to a GAAP basis 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 when referring to year-to-date results or comparisons, we will refer to the 3-month period ended March 31, 2022, and the comparable 3-month period.

With that, I'll turn the call over to David.

David Maher

Thanks, Sondra, and good morning, everyone. I am pleased to report on Acushnet's first quarter results and outlook, share our early read on the start of the 2022 golf season and provide an update on the state of the company's supply chain and some of the actions we are taking to expand our capabilities for the future.

And I will start off by announcing that Acushnet's Board of Directors has approved the payout of our quarterly dividend of $0.18 per share or about $13 million in total. As you have often heard us say, returning capital to shareholders is an important priority within Acushnet's capital allocation strategy.