AP NEWS

Callaway: 4Q Earnings Snapshot

February 10, 2020 GMT

CARLSBAD, Calif. (AP) _ Callaway Golf Co. (ELY) on Monday reported a fourth-quarter loss of $29.2 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Carlsbad, California-based company said it had a loss of 31 cents. Losses, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 26 cents per share.

The results did not meet Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The maker of golf equipment and accessories posted revenue of $311.9 million in the period, which topped Street forecasts. Eight analysts surveyed by Zacks expected $305.6 million.

For the year, the company reported profit of $79.4 million, or 82 cents per share. Revenue was reported as $1.7 billion.

For the current quarter ending in April, Callaway said it expects revenue in the range of $501 million to $516 million.

The company expects full-year earnings to be 82 cents to 94 cents per share, with revenue ranging from $1.75 billion to $1.78 billion.

Callaway shares have decreased almost 3% since the beginning of the year. In the final minutes of trading on Monday, shares hit $20.62, a rise of 36% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ELY at https://www.zacks.com/ap/ELY