Callaway Golf Earnings: ELY Stock Surges on Record Q1 Net Sales

Callaway Golf (NYSE:ELY) posted its latest quarterly earnings figures after hours today, bringing in net sales that increased year-over-year and reached a record amount, playing a role in ELY stock surging more than 2% after hours today.

Callaway Golf Earnings

The Carlsbad, Calif.-based global sporting goods company announced that for its first quarter of its fiscal 2019, it brought in net sales of $516 million, which marked an increase of 28% when compared to the same period in 2018. The business added that its non-GAAP fully diluted earnings for the period tallied up to 63 cents per share, declining roughly 3% when compared to the 65 cents per share from the same period a year ago.

On a GAAP basis, Callaway Golf posted earnings of 50 cents per share during the period, sliding when compared to the 65 cents per share it earned on a GAAP basis during the same period in 2018. The company added that its adjusted EBITDA for the period was $93 million, surging 4% year-over-year from $89 million a year ago.

On a GAAP basis, the company’s net income for the period was $48.6 million, below the $62.9 million for the first quarter of 2018. However, Callaway Golf now sees its non-GAAP earnings for its fiscal 2019 to be in the range of 96 cents per share to $1.06 per share, higher than its previous guidance of 93 cents per share to $1.03 per share.

The brand added that it sees its net sales in the range of $1.67 to $1.70 billion, in line with its previous guidance.

ELY stock is up about 2.9% after the bell Thursday following the company’s quarterly earnings results, which saw sales that were stronger than they were during the same period a year ago. Shares had been gaining by about 0.8% during regular trading hours before Callaway Golf reported its financial figures.


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