Callaway Stock On A Run After Record $652M Q1

    • Callaway Golf has reaped the benefits of the booming golf industry.
    • The company reported Q1 2021 revenue of $652M

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Callaway’s short and long games are looking pretty good right now. 

The company is reaping the benefits of a booming U.S. golf market, reporting record results last week with $652 million in Q1 revenue, a 47% increase year-over-year.

Callaway shares have been riding the wave ever since and reached a 52-week high of $35.55 on Tuesday.

Another recent highlight: Callaway completed its $2.66 billion merger with Topgolf in March. 

Callaway expects full-year 2021 revenue to exceed the $1.7 billion it made in 2019.

“Our golf equipment business is continuing to experience unprecedented demand, while our soft-goods business and Topgolf business are recovering from the pandemic faster than anticipated,” said Callaway President & CEO Chip Brewer.

Callaway still faces fierce competition as the golf industry gains momentum. 

Last week, Centroid Investment Partners, a South Korea-based private equity firm, acquired TaylorMade Golf for $1.7 billion, the largest acquisition ever in the golf goods industry.