ELY - ELY STOCK NEWS

Callaway Golf Company (NYSE: ELY) announced its intention to change its corporate name to Topgolf Callaway Brands Corp. following its merger with Topgolf in 2021. This change reflects the company's expanded brand portfolio in the Modern Golf ecosystem. The new corporate identity is expected to be effective on or about September 6, 2022, with the ticker symbol changing from ELY to MODG on or about September 7, 2022. The current management will continue to lead the company, maintaining brand identities while emphasizing growth in modern lifestyle segments.

Callaway Golf Company (NYSE: ELY) reported a 22.1% increase in Q2 2022 revenues, reaching $1,115.7 million, driven by strong performance across all segments. Consolidated net income rose to $105.4 million, up 14.9% year-over-year, while Adjusted EBITDA increased 26% to $207.3 million. The company raised its full-year revenue outlook to between $3,945 million and $3,970 million, anticipating continued growth in the Topgolf and Golf Equipment segments. Despite facing inflation and currency challenges, strong demand and operational efficiencies helped sustain profitability.

Callaway Golf Company (NYSE: ELY) will release its second quarter 2022 financial results on August 4, 2022. Following the release, a conference call with financial analysts and investors will be held at 2:00 p.m. PDT to discuss the results and the company's business outlook. The call will be accessible via the Callaway Investor Relations website. A replay will be available approximately two hours after the call concludes and can be accessed until 9:00 p.m. PDT on August 11, 2022.

Callaway Golf Company (NYSE: ELY) announced a non-deal roadshow with investors on June 8 and 9, 2022, hosted by JP Morgan and Bank of America. This initiative aims to engage with investors and provide insights into the company's growth and strategic direction. Presentation materials will be available on their Investor Relations website to facilitate transparency and communication. Callaway Golf is known for its diverse portfolio, which includes leading golf equipment and lifestyle brands, emphasizing innovation and quality in their offerings.

Callaway Golf Company (NYSE: ELY) has announced a new $100 million stock repurchase program, authorized by its Board of Directors. The program allows the company to buy back shares in open markets or private transactions, evaluating market conditions and opportunities periodically. The repurchase will comply with securities regulations and align with the company's credit facility terms. This initiative aims to enhance shareholder value and may positively impact earnings per share, although it does not require the company to purchase a specific number of shares.

Callaway Golf reported a significant 59.6% year-over-year revenue increase for Q1 2022, reaching $1,040.2 million, driven largely by the Topgolf merger. GAAP net income fell to $86.7 million, a decrease of $185.8 million from the previous year, influenced by a prior one-time gain. Non-GAAP adjusted net income was $70.9 million. The company increased its full-year revenue outlook to between $3,935 million and $3,970 million. Topgolf's same-venue sales showed a modest 2.3% growth compared to 2019, indicating a recovery from early pandemic impacts.

Callaway Golf Company (NYSE: ELY) hosted its Investor Day on April 26, 2022, highlighting strategies for growth through 2025. The company aims to open 11 Topgolf venues annually and projects annual revenue growth of 10-12%, with Topgolf net revenue expected to grow over 18%. For Q1 2022, consolidated revenue reached $1.04 billion, exceeding projections. Key brands, including TravisMathew, show strong performance. The company anticipates $800 million in adjusted EBITDA by 2025, emphasizing its position as a leader in the golf equipment sector.

Callaway Golf Company (NYSE: ELY) will announce its first quarter 2022 financial results on May 10, 2022, followed by a conference call at 2:00 PM PDT. The call will provide insights into the company's financial performance and future outlook. Investors can access the live broadcast and a replay via the Callaway Investor Relations website. Callaway continues to lead in the golf equipment sector with a commitment to innovation and quality, featuring brands like Topgolf and Odyssey.

Callaway Golf Company (NYSE: ELY) will host an Investor Day on April 26, 2022, in Los Angeles, CA, from 8:00 a.m. PDT to 12:00 p.m. PDT. The event will feature presentations and Q&A sessions by Callaway and Topgolf executives, and will be broadcast live on the company's investor relations website. A replay will be available post-event. Interested parties can register for the webcast online. Callaway is committed to innovation in delivering premium golf equipment and entertainment experiences through its diverse brand portfolio.