Callaway Golf (ELY) Tops Q2 EPS by 35c; Guides Above Views

Callaway Golf (NYSE: ELY) reported Q2 EPS of $0.36, $0.35 better than the analyst estimate of $0.01. Revenue for the quarter came in at $914 million versus the consensus estimate of $744.06 million.

"I am very pleased with our performance in the second quarter of 2021 with record revenue and Adjusted EBITDA in our golf equipment and apparel businesses, as well as Topgolf results that continue to exceed our expectations," commented Chip Brewer, President and Chief Executive Officer of Callaway. "These results reflect the strong momentum and exceptional operating performance across all of our business segments and underscore the strong consumer demand for our products and services. We are encouraged to see that the interest in the sport of golf remains at all-time highs among both experienced golfers and new entrants to the sport."

"As we look ahead to the second half of 2021 and beyond, we are confident that our unique portfolio of businesses is well positioned for long-term growth,\" continued Mr. Brewer. "While in the short-term we will experience some lingering supply constraints and other challenges caused by the pandemic, we believe that these challenges will be manageable given current demand levels and actions we are taking to mitigate the impact. Our best estimate of these impacts is included in the guidance we are providing today, and we expect to deliver excellent financial results for the full year. All in all, we are excited about the long-term trends in our golf and outdoor apparel businesses, as well as the growth opportunities for Topgolf, all of which will continue to drive shareholder value."

GUIDANCE:

Callaway Golf sees Q3 2021 revenue of $779-790 million, versus the consensus of $760.05 million.

Callaway Golf sees FY2021 revenue of $3.025-3.055 billion, versus the consensus of $2.83 billion.

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

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