CALY FY 2019 Earnings Report — Callaway Golf Company Revenue & Financial Results | Market Cap Arena

Callaway Golf CompanyCALY

FY 2019 Earnings

Reported December 30, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.2B	—	36.9%
Op. Income	$146M	—	$132M	—	10.9%
Gross Margin	45.1%	—	46.5%	—	-1.5pp
Net Margin	4.7%	—	8.4%	—	-3.8pp
EPS (Diluted)	$0.82	—	$1.08	—	-24.1%
Free Cash Flow	$32M	—	$55M	—	-42.6%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$935M
GROSS PROFIT	$766M
R&D Expenses	$51M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$570M
Other Expenses	$0
Operating Expenses	$620M
Cost & Expenses	$1.6B
OPERATING INCOME	$146M
Interest Income	$807.0K
Interest Expense	$44M
Other Income/Expenses	-$50M
INCOME BEFORE TAX	$96M
Income Tax Expense	$17M
Net Income from Continuing Ops	$79M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$79M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$79M
D&A	$66M
EBIT	$140M
EBITDA	$205M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$935M
GROSS PROFIT	$766M
R&D Expenses	$51M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$570M
Other Expenses	$0
Operating Expenses	$620M
Cost & Expenses	$1.6B
OPERATING INCOME	$146M
Interest Income	$807.0K
Interest Expense	$44M
Other Income/Expenses	-$50M
INCOME BEFORE TAX	$96M
Income Tax Expense	$17M
Net Income from Continuing Ops	$79M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$79M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$79M
D&A	$66M
EBIT	$140M
EBITDA	$205M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$79M
Depreciation & Amortization	$66M
Stock-Based Compensation	$0
Deferred Income Tax	-$1M
Other Non-Cash Items	$31M
Change in Working Capital	-$88M
OPERATING CASH FLOW	$87M
Capital Expenditure	-$55M
Acquisitions (Net)	-$482M
Purchases of Investments	-$18M
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$554M
Net Debt Issuance	$543M
Common Stock Repurchased	-$28M
Common Dividends Paid	-$4M
Other Financing Activities	$0
NET CASH FROM FINANCING	$511M
FREE CASH FLOW	$32M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$107M
Short-Term Investments	$0
Net Receivables	$150M
Inventory	$457M
Other Current Assets	$75M
TOTAL CURRENT ASSETS	$789M
PP&E (Net)	$293M
Goodwill	$204M
Intangible Assets	$493M
Long-Term Investments	$91M
Tax Assets	$74M
Other Non-Current Assets	$17M
TOTAL NON-CURRENT ASSETS	$1.2B
TOTAL ASSETS	$2.0B
Account Payables	$68M
Short-Term Debt	$179M
Deferred Revenue	$3M
Other Current Liabilities	$214M
TOTAL CURRENT LIABILITIES	$523M
Long-Term Debt	$576M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$73M
Other Non-Current Liabilities	-$123M
TOTAL NON-CURRENT LIABILITIES	$670M
TOTAL LIABILITIES	$1.2B
Common Stock	$956.0K
Additional Paid-In Capital	$324M
Retained Earnings	$489M
Treasury Stock	-$24M
Accum. Other Comp. Income	-$22M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$767M
Minority Interest	$0
TOTAL EQUITY	$767M
TOTAL LIABILITIES & EQUITY	$2.0B
Total Debt	$898M
Net Debt	$791M