Callaway Golf (ELY) Tops Q2 EPS by 5c; Lowers FY15 Revenue Outlook

Callaway Golf (NYSE: ELY) reported Q2 EPS of $0.15, $0.05 better than the analyst estimate of $0.10. Revenue for the quarter came in at $231 million versus the consensus estimate of $235.63 million.

Callaway Golf sees FY2015 EPS of $0.01-$0.06, versus prior guidance of ($0.03) and the consensus of $0.04. Callaway Golf sees FY2015 revenue of $830-840 million, versus prior guidance of $840-860 million and the consensus of $849.36 million.

"Overall, we are pleased with our performance in the second quarter and the progress we have made turning our business around," commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company. "Foreign currency exchange rates and softer than expected market conditions in Asia have proved challenging this year; however, our brand momentum and market shares have continued to increase, we have made substantial progress improving our profitability, and our product pipeline remains robust. Looking forward, despite a continued rebalancing of retail inventory in Asia, we are encouraged by the overall fundamentals of the golf industry with less overall promotional activity, more reasonable production and inventory levels, and a general stabilization of participation in golf."

For earnings history and earnings-related data on Callaway Golf (ELY) click here.

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