Callaway Golf Co. (ELY) Tops Q1 EPS by 16c

Callaway Golf Co. (NYSE: ELY) reported Q1 EPS of $0.61, $0.16 better than the analyst estimate of $0.45. Revenue for the quarter came in at $352 million versus the consensus estimate of $314.15 million.

Callaway Golf Co. reaffirmed FY2014 guidance.

Second Quarter Guidance:

The Company has reported that it expects challenging market conditions in the second quarter because of a late start to the 2014 golf season as well as high retail inventory levels and anticipated promotional activity. Due to these conditions, as well as the successful retail sell-in during the first quarter, the Company estimates for the second quarter of 2014 (compared to the second quarter of 2013) that its sales will be flat to down 5% percent and that its earnings per share will be breakeven to slightly profitable.

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

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