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Callaway Golf reported a record fourth quarter 2020 net sales of $375 million, a 20% increase year-over-year, driven by substantial growth in Golf Club sales (+48.5%). The Company’s gross profit rose to $139 million, albeit with a decreased gross margin of 37.1%. For the full year, net sales fell 7% to $1.589 billion compared to 2019, largely due to COVID-19 impacts. Looking ahead, Callaway anticipates continued challenges in 2021, particularly in its soft goods segment, but remains optimistic about demand recovery and the pending merger with Topgolf.
Callaway Golf Company (NYSE: ELY) will release its fourth quarter and full year 2020 financial results on February 10, 2021. A conference call for analysts and investors will follow at 2:00 p.m. PST on the same day to discuss the results and the company's outlook. The call will be available live online, with a replay accessible within two hours after the call's conclusion until February 17, 2021. Callaway Golf is recognized for its premium golf equipment and lifestyle brands, emphasizing innovation across its product offerings.
Callaway Golf Company (NYSE: ELY) launched its new golf ball lineup, featuring the ERC Soft, Supersoft, and Supersoft MAX. The ERC Soft boasts a High Energy Core for distance, while the Hybrid Cover, made with Dow's PARALOID™, enhances speed and feel. Priced at $34.99 per dozen, it will be available on February 25. The Supersoft line, now upgraded, offers improved control and distance at $22.99 per dozen, available from February 4. Notably, Supersoft MAX focuses on max distance with an oversized design for forgiveness, beneficial for developing golfers.
Callaway Golf Company (NYSE: ELY) has launched its new family of Epic Drivers and Fairway Woods, aiming to enhance ball speed for all golfers. The new products include the Epic Speed, Epic MAX, and Epic MAX LS drivers, featuring advanced A.I.-designed Jailbreak Speed Frame technology for improved stability and speed. The drivers will be available for online pre-order on January 26, 2021, and retail on February 18, 2021, priced at $529.99. The Epic Speed and Epic MAX fairway woods also utilize innovative A.I. designs to optimize performance, with a retail price of $299.99.
Odyssey Golf, a leader in putter innovation, has unveiled its new line of White Hot OG Putters, featuring a premium urethane insert formulation that enhances feel and performance. The line includes models with a silver PVD finish and options for stepless steel or Stroke Lab shafts. Priced at $219.99 and $269.99 respectively, these putters are available for pre-order and will hit retail stores on January 28. With an emphasis on quality and feedback from professional golfers, Odyssey aims to reinforce its position as the #1 Putter across major Tours worldwide.
Callaway Golf Company (NYSE: ELY) unveiled its latest Apex Irons and Hybrids on January 12, 2021. The new offerings include Apex 21, Apex Pro 21, and Apex DCB Irons, featuring advanced A.I.-designed technologies for enhanced performance and forgiveness. Prices start at $1,480 for an 8-piece steel set. Apex 21 and Apex Pro Hybrids also incorporate cutting-edge features like Jailbreak A.I. Velocity Blades. Pre-orders commence on January 26, with retail availability from February 11. Callaway aims to set a new standard in golf performance with these innovations.
Callaway Golf Company (NYSE: ELY) has signed Jon Rahm, the #2 ranked golfer globally, to a multiyear agreement. Rahm will use a full bag of Callaway equipment, including Prototype Woods, Irons, and a Chrome Soft X Golf Ball. He expressed enthusiasm about the new setup, achieving a course record of 59 in his first round. Rahm has an impressive track record with 12 worldwide victories and accolades like the 2019 European Tour Player of the Year. Callaway President Chip Brewer praised Rahm's skill and history with their brand, anticipating significant performance enhancements.
Richard Collier has been appointed as the new Chief Executive Officer of Jack Wolfskin, effective December 1, 2020. He succeeds Melody Harris-Jensbach, who will continue in an advisory role. Collier brings 17 years of experience from Helly Hansen, where he significantly improved brand performance and sustainability initiatives. The transition follows the integration of Jack Wolfskin into the Callaway Group, which acquired the company in 2019. Harris-Jensbach successfully realigned Jack Wolfskin's brand positioning and expanded its appeal to younger demographics.
Callaway Golf Company (NYSE: ELY) reported strong Q3 2020 financial results, with net sales reaching $476 million, a 12% increase from Q3 2019. The golf equipment segment surged 27%, reflecting heightened demand. Q3 gross profit was $201 million (42.2% margin), down from 44.9% YoY. Operating expenses decreased by $14 million to $137 million. Net income rose to $52 million ($0.54 EPS). For the first nine months, sales fell 13% to $1,215 million, impacted by COVID-19. The company did not provide Q4 guidance due to ongoing pandemic uncertainties, despite strong e-commerce growth.
Callaway Golf Company (NYSE: ELY) will release its third quarter 2020 financial results on November 9, 2020, followed by a conference call at 2:00 p.m. PST. The call will provide insights into the company’s financial performance and future outlook. Investors can access the live broadcast via the investor relations website. A replay will be available after the call until November 16, 2020, at 9:00 p.m. PST. Callaway is recognized for its premium golf equipment and has a strong portfolio of brands.
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