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.