Acushnet Holdings Corp.

Hello, everyone. Thank you for joining us and welcome to the Kushnett Company 3Q26 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Cameron Vollmuth, Director of Investor Relations. Please go ahead.

Good morning, everyone. Thank you for joining us today for Kushnett Holding Corp.'s third 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 a Cushnet'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, 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. And when referring to year-to-date results or comparisons, We are referring to the nine-month period ended September 30th, 2026, and the comparable nine-month period in 2025. With that, I'll turn the call over to David.

Thanks, Cameron, and good morning, everyone. As always, we appreciate your interest in the Acushnet Company. I am pleased to report on a solid third quarter for Acushnet, led by strength and momentum across our Titleist Golf Equipment segment. With many golf regions winding down their playing seasons, the golf industry is structurally healthy. This week, as Acushnet celebrates 10 years as a publicly traded company, it is noteworthy how vastly improved golf industry fundamentals are today as compared to a decade ago. There are many data points which frame recent industry growth, with the most compelling being eight consecutive years of participation increases, affirming the game's enduring appeal, and the meaningfully improved financial health of golf courses and golf retailers, which has led to outsized investment in facilities to meet the future needs of an evolving golfer base. A Cushnet's headlines remain growth and strength in our core Titleist golf equipment segment, improving profitability within foot joy and the durability of our golf gear franchise. On top of this, there are call-outs related to the timing of our golf club business in 2026, which we will address. Overall, we are pleased with the strength of our brands, the company's healthy balance sheet, and a cushion to clear future direction as we prepare for a full slate of product launches and new initiatives scheduled for 2027.