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Callaway Golf Company (NYSE: ELY) has expanded its Board of Directors from 13 to 14 members with the appointment of Varsha Rao. She has extensive experience, having served as CEO of Nurx and in executive roles at Clover Health and Airbnb. Rao's appointment is expected to enhance the board's expertise, particularly in technology and global operations, as Callaway continues its tech integration following the acquisition of Topgolf. Rao will serve immediately and seek election for a full term at the 2022 Annual Meeting of Shareholders.
Callaway Golf Company (NYSE: ELY) has released its first Sustainability Report, highlighting its commitment to responsible business practices. The report showcases the company’s focus on four key pillars: People, Planet, Product, and Procurement. Key initiatives include promoting diversity within its workforce, improving energy efficiency, and adopting sustainable product management practices. The report covers the fiscal year from January 1, 2021 to December 31, 2021, and aims to enhance transparency for stakeholders while committing to bi-annual reporting.
On March 3, 2022, Callaway Golf Company (NYSE: ELY) announced its participation in two major investor conferences: the Raymond James 43rd Annual Institutional Investors Conference on March 8, 2022, in Orlando, FL, and the Roth 34th Annual Conference on March 14, 2022, in Dana Point, CA. Presentation materials will be available on the Investor Relations website prior to the Raymond James conference. Callaway is a leading tech-enabled golf company known for its premium equipment and entertainment experiences.
Callaway Golf Company (NYSE: ELY) reported strong financial results for Q4 and FY 2021, with net revenues soaring 90% to $712 million in Q4, propelled by Topgolf integration and robust apparel sales. However, the company faced a net loss of $26 million in Q4 and $322 million for FY 2021. Notably, golf equipment revenue declined 24.5% year-over-year due to shifted production strategies. The outlook for 2022 projects net revenues between $3.78 billion and $3.82 billion, with an anticipated Adjusted EBITDA of $490-$515 million, highlighting confidence in growth despite ongoing challenges.
Callaway Golf Company (NYSE: ELY) will release its fourth quarter and full year 2021 financial results on February 10, 2022. A conference call with financial analysts and investors is set for 2:00 p.m. PST that same day to discuss the results and the company's outlook. The call will be accessible via the Callaway Investor Relations website. A replay will be available two hours after the event and can be accessed online until February 17, 2022.
Callaway Golf is recognized for its innovative golf equipment and entertainment, operating brands like Topgolf and Odyssey.
Callaway Golf (NYSE: ELY) has announced that its new Rogue ST Drivers are the top drivers on the PGA TOUR during the Sentry Tournament of Champions. This achievement is notable as it marks the first week the drivers are available on TOUR, with 11 drivers in play among 38 players. Notable users include Jon Rahm and Phil Mickelson, who praised the drivers' performance. The Rogue ST Drivers feature advanced technology, including a new Tungsten Speed Cartridge for enhanced speed and stability, and will retail for $549.99 starting February 18, 2022.
Odyssey, a leader in putter innovation, announced the launch of its new Tri-Hot 5K, Eleven, and Toulon Putters, along with updated versions of the White Hot OG lineup, set for retail on February 4, 2022. The Tri-Hot 5K boasts a new blade construction, enhanced with tungsten and aluminum, providing significant forgiveness and improved performance metrics. The Eleven model integrates the renowned White Hot insert and Stroke Lab shaft for better stroke consistency. Prices range from $269.99 for White Hot OG to $449.99 for Toulon. The press release highlights Callaway Golf Company's commitment to innovation in golf equipment.
Callaway Golf (NYSE: ELY) has unveiled its latest Chrome Soft Golf Balls, including Chrome Soft, Chrome Soft X, and Chrome Soft X LS, set to launch on January 28, 2022. These new models utilize proprietary Precision Technology, backed by an investment of over $50 million, to enhance performance metrics like speed and dispersion. Priced at $49.99 per dozen, the balls cater to a range of players, offering features such as improved feel, distance, and control. The Chrome Soft X continues to be the top choice among Tour players.
Callaway Golf (NYSE: ELY) unveiled its new Rogue Family of golf products, set to launch on February 18. This includes drivers, fairway woods, hybrids, and irons featuring cutting-edge technologies like the Tungsten Speed Cartridge and A.I. Face Optimization, aimed at maximizing performance. Prices range from $279.99 for hybrids to $999.99 for irons. The new models promise enhanced distance and forgiveness, catering to various skill levels, which could positively impact Callaway's market position.
Callaway Golf Company (NYSE: ELY) has authorized a stock repurchase program of up to $50 million. This replaces the previous program terminated due to the pandemic. The repurchases will occur based on market conditions and other strategic factors, compliant with SEC regulations. The program does not mandate a specific number of shares to be repurchased and will continue until completed or terminated. This move aims to enhance shareholder value and reflect the company's confidence in its financial position.
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