Callaway Golf had $476 million in net sales during its third quarter, a 12% year-over-year increase and a new company record. Net income reached $52 million during the quarter, up from $31 million a year ago.
A further boost for the company could come through its $2 billion acquisition of Topgolf, which it announced last month. Callaway owned about 14% of the driving-range operator prior to the deal.
Overall golf merchandise sales have boomed during the pandemic, up 42% in the third quarter as golfers are hitting the links more often.
Callaway’s Q3 Growth:
Sales: up 12%
Golf Equipment: up 27%
E-Commerce: up 108%