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26.04.2018 22:39:15

Callaway Golf Increases 2018 Guidance - Quick Facts

(RTTNews) - Callaway Golf Company (ELY) announced the company increased its 2018 GAAP earnings per share guidance to $0.77 - $0.82 primarily due to the projected increase in net sales, an overall strengthening of foreign currencies, improved gross margins and a lower estimated tax rate. The company's 2018 earnings per share estimates currently assume a tax rate of approximately 23% and a base of 97 million shares.

The company's revised 2018 net sales estimate of $1.170 billion - $1.185 billion represents an increase of $50 - 55 million over its prior estimate. This would result in net sales growth of 12% -13% in 2018 compared to 2017. The company said the estimated incremental sales growth versus previous estimates is expected to be driven by further increases in the core business (currently estimated at 4-6% full year sales growth compared to 2017, on a currency neutral basis), foreign currency exchange rate impacts and increases in the TravisMathew business.

In the first quarter of 2018, as compared to the same period in 2017, the company's net sales increased 31% to $403 million, and earnings per share increased $0.38 to $0.65.

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Callaway Golf Co. 8,42 3,39% Callaway Golf Co.