Jefferies Reiterates Buy Following Callaway Golf (ELY) 3Q Results
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Callaway Golf Company Announces Third Quarter 2015 Financial Results; Profitability And Market Share Exceed Company's Expectations; And The Company Increases Full Year Earnings Guidance
October 21, 2015 4:15 PM EDTCARLSBAD, Calif., Oct. 21, 2015 /PRNewswire/ -- Callaway Golf Company (NYSE: ELY) today announced its third quarter financial results and revised its full year financial outlook, including increasing its earnings guidance.
For the third quarter of 2015, despite significant headwinds from unfavorable changes in foreign currency exchange rates, the Company improved both its net sales and gross profit. Specifically, the Company achieved third quarter net sales growth of 4% over 2014. On a constant currency basis, the Company grew net sales 12%. The Company's gross margins improved by 540 basis points to 44.1%, resulting in a $13 million... More
