Callaway Golf warns of profit and sales miss, but expects golf to bounce back 'quickly' [MarketWatch]
Callaway Golf Company (ELY)
Last callaway golf company earnings: 2/10 04:20 pm
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Source: MarketWatch
Shares of Callaway Golf Co. rose 1.1% in premarket trading Monday, after the golf equipment retailer warned of a first-quarter profit and sales miss, as retail sales "significantly slowed" in March as shelter-in-place orders were implemented in response to the coronavirus pandemic, but said it expects the sport to bounce back quickly. The company expects revenue of $438 million to $443 million, down from $516 million a year ago, and below the FactSet consensus of $482 million. Earnings per share is expected to declined to 27 cents to 31 cents from 50 cents, which would miss the FactSet consensus of 38 cents. The company said its e-commerce business has been exceeding expectations, and its golf and apparel business in China has rebounded more than expected in April. In the U.S., the company said National Golf Foundation estimates suggest about half of the golf courses are currently open. Callaway said it expects the sport of golf to "come back quickly" as it is commonly viewed as a saf
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