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Callaway Golf Company (NYSE: ELY) reported impressive financial results for Q2 2021, achieving net revenue of $914 million, significantly up from $297 million in Q2 2020. The net income reached $92 million compared to a loss of $168 million the previous year. Adjusted EBITDA also showed strong growth at $164 million. The company's golf equipment revenue surged 91% year-over-year, driven by high demand and the Topgolf acquisition contributing $325 million to revenue. Callaway is optimistic about continued growth despite facing supply chain challenges due to the pandemic.
Callaway Golf Company (NYSE: ELY) reported record financial results for Q2 2021, achieving net revenue of $914 million, a significant increase from $297 million in Q2 2020. The company saw a sharp rise in both golf equipment (91% YoY increase) and apparel sales (115% YoY increase), fueled by high consumer demand and the successful integration of Topgolf, which contributed $325 million in revenue. Adjusted EBITDA also surged to $164 million. Despite strong growth, Callaway anticipates supply chain challenges may impact future results, but remains optimistic about long-term growth prospects.
Callaway Golf Company (NYSE: ELY) will release its second quarter 2021 financial results on August 9, 2021. This will be followed by a conference call at 2:00 p.m. PDT to discuss the results and company outlook. Investors can access the live broadcast via the Callaway Investor Relations website. A replay will be available two hours after the call, accessible until 9:00 p.m. PDT on August 16, 2021. Callaway is known for its innovative golf equipment and services, including subsidiaries like Topgolf.
Jon Rahm achieved his first major victory at the U.S. Open on June 21, 2021, utilizing Callaway Golf equipment, including the Epic Speed Driver and Chrome Soft X Golf Ball. His performance at Torrey Pines, characterized by birdieing the final two holes, propelled him to the #1 spot in the Official World Golf Rankings. This win marks the second consecutive major for Callaway's Chrome Soft X, previously carried by Phil Mickelson at the PGA Championship. Callaway President, Chip Brewer, praised Rahm's remarkable poise and performance.
On May 25, 2021, Phil Mickelson made history by winning the PGA Championship at Kiawah Island, becoming the oldest major champion at age 50. Utilizing Callaway Golf equipment, including the Epic Speed Driver and Chrome Soft X Golf Ball, he led in Strokes Gained: Tee To Green. Mickelson's win marks his sixth major and 55th career victory, showcasing Callaway's technology, such as the Jailbreak Speed Frame and Triple Track Technology that enhances performance. Callaway's CEO congratulated Mickelson, emphasizing his role as a brand ambassador.
Callaway Golf Company (NYSE:ELY) reported a robust financial performance for Q1 2021, showing a 47% increase in revenue to $652 million, driven by strong demand in its golf equipment and a positive contribution from the Topgolf acquisition. Adjusted EBITDA soared by 113% to $128 million. Net income rose to $272 million, significantly up from $29 million a year prior. The company is well-positioned with record liquidity of $713 million and projects that both legacy Callaway and Topgolf will exceed 2019 revenue levels in 2021, reflecting a swift recovery from the pandemic.
Callaway Golf Company (NYSE: ELY) will release its first quarter 2021 financial results on May 10, 2021, followed by a conference call at 2:00 p.m. PDT to discuss the results and outlook. Investors can access the call live via the company's investor relations website. A replay will be available approximately two hours after the call until 9:00 p.m. PDT on May 17, 2021. This release highlights Callaway's commitment to transparency and keeping investors informed about its financial performance.
Topgolf Entertainment Group has appointed Artie Starrs as the new Chief Executive Officer, effective April 5, 2021. Starrs, previously Global CEO at Pizza Hut, brings extensive operational and digital transformation experience. He succeeds Dolf Berle, who left after leading the merger with Callaway Golf, finalized earlier this month. Callaway President Chip Brewer expressed confidence in Starrs' ability to drive growth and innovation at Topgolf, leveraging its community-driven culture and global brand portfolio.
Callaway Golf Company (NYSE: ELY) has successfully completed its merger with Topgolf International, Inc., following mutual shareholder approval. This merger combines Callaway's expertise in golf equipment with Topgolf's innovative entertainment venues and technology, creating a powerful tech-enabled golf company. Following the merger, Callaway shareholders own approximately 51.3% and former Topgolf shareholders own about 48.7% of the combined company. Topgolf's leadership will support the transition, aiming to enhance growth and inclusivity in golf.
Callaway Golf Company (NYSE: ELY) launched the new Chrome Soft X LS Golf Ball on March 2, 2021, designed for low spin and maximum distance. This 4-piece ball features a SoftFast Core and a Dual Mantle System, increasing speed and resilience. Scheduled for release on March 18 at a retail price of $47.99 per dozen, it aims to enhance performance for better players. Already endorsed by PGA Tour players like Marc Leishman and Wesley Bryan, the Chrome Soft X LS expands the successful Chrome Soft lineup.
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