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09.08.2021 22:31
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PR Newswire
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Callaway Golf Company Announces Record Financial Results For Second Quarter And First Half 2021
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PR Newswire
CARLSBAD, Calif., Aug. 9, 2021
CARLSBAD, Calif., Aug. 9, 2021 /PRNewswire/ -- Callaway Golf Company (the "Company" or "Callaway") (NYSE: ELY) announced today its financial results for the second quarter ended June 30, 2021.
"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."
GAAP AND NON-GAAP RESULTS
In addition to the Company's results prepared in accordance with GAAP, the Company provided information on a non-GAAP basis. The manner in which this non-GAAP information is derived is discussed further toward the end of this release, and the Company has provided in the tables to this release a reconciliation of the non-GAAP information to the most directly comparable GAAP information.
SUMMARY OF FINANCIAL RESULTS
The Company announced the following GAAP and non-GAAP financial results for the second quarter and first half of 2021 (in millions, except EPS):
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| GAAP RESULTS | |||||||
| | Q2 | Q2 | Change | | First Half | First Half | Change |
| Net Revenue | $914 | $297 | $617 | | $1,565 | $739 | $826 |
| Income from Operations | $107 | ($177) | $284 | | $183 | ($137) | $320 |
| Other Income/(Expense), net | ($31) | $2 | ($33) | | $213 | ($1) | $214 |
| Income (Loss) before Income Taxes | $76 | ($176) | $252 | | $396 | ($138) | $534 |
| Net Income (Loss) | $92 | ($168) | $260 | | $364 | ($139) | $503 |
| Earnings (Loss) Per Share - diluted | $0.47 | ($1.78) | $2.25 | | $2.28 | ($1.47) | $3.75 |
| NON-GAAP RESULTS | |||||||
| | Q2 | Q2 2020 | Change | | First Half | First Half | Change |
| Net Revenue | $914 | $297 | $617 | | $1,565 | $739 | $826 |
| Income from Operations | $118 | $4 | $114 | | $215 | $47 | $168 |
| Other Income/(Expense), net | ($27) | $3 | ($30) | | ($33) | $1 | ($34) |
| Income (Loss) before Income Taxes | $91 | $7 | $84 | | $182 | $48 | $134 |
| Net Income (Loss) | $70 | $5 | $65 | | $147 Werbung Mehr Nachrichten zur Topgolf Callaway Brands Corp Aktie kostenlos abonnieren
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