Home Top Movers Here is why Callaway Golf Co (ELY) stock rallied in the after-market...

Here is why Callaway Golf Co (ELY) stock rallied in the after-market on Monday

Callaway Golf Company (ELY) shares rallied 7.75% to close at $32.25 in the after-market on Monday, May 10, 2021. Earlier, ELY’s stock lost 3.85% to close Monday’s session at $29.93. ELY shares have surged 115.17% over the last 12 months, and they have moved up by 3.03% in the past week. Over the past three months, the stock has lost 5.70%, while over the past six months, it went up 72.71%.

Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Let’s see is there any reason behind its flip on Monday.

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!

Sponsored

Financial result announcement

On May 10, 2021, Callaway Golf Company reported its financial results for the first quarter ended March 31, 2021.

Read More

Q1 2021 financial highlights

  • Callaway net revenue for the first quarter was $652 million compared to $442 million for the same period in 2020.
  • GAAP income from operations was $76 million in Q1 20201 compared to $41 million in the first quarter of 2020.
  • Non-GAAP income from operations was $97 million in Q1 2021 compared to $43 million in Q1 2020.
  • For the first quarter of 2021, the net expenses were $244 million compared to a net expense of $3 million in the first quarter of 2020.
  • Q1 2021, fully diluted GAPP earnings per share were $2.19, compared to fully diluted earnings per share of $0.30in Q1 2020.
  • Non-GAAP first quarter 2021 fully diluted earnings per share were $0.62, compared to $0.32for the first quarter of 2020.
  • Adjusted EBITDA was $128 million in Q1 2021 compared to $60 million in Q1 2020. 

Callaway merger with Topgolf

On March 8, 2021, Callaway Golf Company and Topgolf International, Inc. announced the completion of their previously announced on October 27, 2020. The combined enterprise creates an unrivalled tech-enabled golf company delivering leading golf equipment, apparel, and entertainment worldwide.

The combined company will be headquartered in Carlsbad, California with Topgolf continuing to operate from its headquarters in Dallas, Texas.

Officially launch of Chrome Soft X LS Golf Ball

On March 2, 2021, Callaway Golf Company officially announced their new Chrome Soft X LS Golf Ball. It promotes low spin for max distance, with Tour-level short game control, and expands the popular Chrome Soft Golf Ball lineup.

Q4 & FY 2020 financial results

On February 11, 2021, Callaway Golf reported its financial results for the fourth quarter and the year ended December 31, 2020.

Q4 2020 financial results

  • Q4 2020 net sales were$375 million compared to $312 million for the same period in 2019.
  • ELY gross margin was 37.1% in Q4 2020 compared to 41.7% in Q4 2019.
  • The non-GAAP gross margin was37.2% compared to 42.4% for the fourth quarter of 2019.
  • Operating expenses were $171 million in Q4 2020 compared to $153 million in Q4 2019.
  • GAAP loss per share was $0.43 in Q4 2020, compared to a loss per share of $0.31for the fourth quarter of 2019.

    Get the hottest stocks to trade every day before the market opens 100% ‎free. Click here now. 

Conclusion

The ELY stock surged after the company’s Q1 financial results beat the estimates. ELY share price can further rise in the coming days.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

The Dixie Group Inc. (DXYN) stock surged during pre-market trading given no recent news

The Dixie Group Inc. (NASDAQ: DXYN) stock gained by 11.55% in the pre-market trading session. However, there is no update available regarding this hike...

Why BancorpSouth Bank (BXS) stock plummeted on Friday?

BancorpSouth Bank (BXS) shares plummeted 9.39% in after-hours on Friday, June 18, 2021, and close the weekly business at $25.00 per share. Earlier, BXS's...

CureVac Inc. (CVAC) stock soar during pre-market trading. Here’s what you should know?

CureVac Inc. (NASDAQ: CVAC) stock declined by 38.99% at the last close while the CVAC stock price gains by 11.34% in the pre-market trading...

Why Iconix Brand Group Inc (ICON) stock turnaround in the after-hours on Thursday?

Iconix Brand Group Inc (ICON) shares started the Thursday, June 17, 2021, trading be losing 1.87% and close the normal trading session at $3.14...

ISun Inc. (ISUN) stock surged during current market trading. Here’s the update

ISun Inc. (NASDAQ: ISUN) stock gained by 19.51% in the current market trading. iSun, based in Burlington, Vermont, is a company built on ideals...

Why Eyenovia Inc. (EYEN) stock price went up in the after-market on Friday?

Eyenovia Inc. (EYEN) shares pop up 8.41% in after-hours on Friday, June 18, 2021, and close the week at $5.80 per share. Earlier, EYEN's...

IM Cannabis Corp. (IMCC) stock surged during after-hour session. Why is it so?

IM Cannabis Corp. (NASDAQ: IMCC) stock gained by 3.01% at last close while the IMCC stock price rises by 7.19% in the after-hours session....

Why BancorpSouth Bank (BXS) stock plummeted on Friday?

BancorpSouth Bank (BXS) shares plummeted 9.39% in after-hours on Friday, June 18, 2021, and close the weekly business at $25.00 per share. Earlier, BXS's...

Related News

Why Eyenovia Inc. (EYEN) stock price went up in the after-market on Friday?

Eyenovia Inc. (EYEN) shares pop up 8.41% in after-hours on Friday, June 18, 2021, and close the week at $5.80 per share. Earlier, EYEN's...

CorMedix Inc. (CRMD) stock surged during after-hour session. What has been happening lately?

CorMedix Inc. (NASDAQ: CRMD) stock fell by 1.91% at last close while the CRMD stock price gains by 6.49% in the after-hours session. There...

Edesa Biotech Inc. (EDSA) stock surged during current market trading. Here’s to know why?

Edesa Biotech Inc. (NASDAQ: EDSA) stock gained by 4.22% in the current market trading. Edesa Biotech is a clinical-stage biopharmaceutical business dedicated on the...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower...

Cleveland BioLabs Inc. (CBLI) stock surged during after-hour session. Here’s what’s happening?

Cleveland BioLabs Inc. (NASDAQ: CBLI) stock declined by 3.58% at the last close while the CBLI stock price gains by 17.53% during the after-hour...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam