CALY FY 2021 Earnings Report — Callaway Golf Company Revenue & Financial Results | Market Cap Arena

Callaway Golf CompanyCALY

FY 2021 Earnings

Reported December 31, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$3.1B	—	$1.6B	—	97.1%
Op. Income	$205M	—	$68M	—	202.2%
Gross Margin	59.5%	—	41.3%	—	18.2pp
Net Margin	10.3%	—	-8.0%	—	18.3pp
EPS (Diluted)	$1.82	—	$-1.35	—	234.8%
Free Cash Flow	-$44M	—	$189M	—	-123.3%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.3B
GROSS PROFIT	$1.9B
R&D Expenses	$68M
Selling & Marketing	$0
General & Administrative	$850M
SG&A Expenses	$850M
Other Expenses	$741M
Operating Expenses	$1.7B
Cost & Expenses	$2.9B
OPERATING INCOME	$205M
Interest Income	$0
Interest Expense	$116M
Other Income/Expenses	$146M
INCOME BEFORE TAX	$351M
Income Tax Expense	$29M
Net Income from Continuing Ops	$322M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$322M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$322M
D&A	$156M
EBIT	$466M
EBITDA	$622M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.3B
GROSS PROFIT	$1.9B
R&D Expenses	$68M
Selling & Marketing	$0
General & Administrative	$850M
SG&A Expenses	$850M
Other Expenses	$741M
Operating Expenses	$1.7B
Cost & Expenses	$2.9B
OPERATING INCOME	$205M
Interest Income	$0
Interest Expense	$116M
Other Income/Expenses	$146M
INCOME BEFORE TAX	$351M
Income Tax Expense	$29M
Net Income from Continuing Ops	$322M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$322M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$322M
D&A	$156M
EBIT	$466M
EBITDA	$622M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$322M
Depreciation & Amortization	$156M
Stock-Based Compensation	$39M
Deferred Income Tax	$8M
Other Non-Cash Items	-$237M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$278M
Capital Expenditure	-$322M
Acquisitions (Net)	$160M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$162M
Net Debt Issuance	-$99M
Common Stock Repurchased	-$38M
Common Dividends Paid	-$3.0K
Other Financing Activities	$13M
NET CASH FROM FINANCING	-$124M
FREE CASH FLOW	-$44M
Net Change in Cash	-$14M

Balance Sheet

Item	Amount
Cash & Equivalents	$352M
Short-Term Investments	$0
Net Receivables	$156M
Inventory	$534M
Other Current Assets	$70M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$2.8B
Goodwill	$2.0B
Intangible Assets	$1.5B
Long-Term Investments	$39M
Tax Assets	$0
Other Non-Current Assets	$218M
TOTAL NON-CURRENT ASSETS	$6.6B
TOTAL ASSETS	$7.7B
Account Payables	$139M
Short-Term Debt	$88M
Deferred Revenue	$117M
Other Current Liabilities	$394M
TOTAL CURRENT LIABILITIES	$866M
Long-Term Debt	$2.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$164M
Other Non-Current Liabilities	-$1.4B
TOTAL NON-CURRENT LIABILITIES	$3.2B
TOTAL LIABILITIES	$4.1B
Common Stock	$2M
Additional Paid-In Capital	$3.1B
Retained Earnings	$682M
Treasury Stock	-$26M
Accum. Other Comp. Income	-$27M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$3.7B
Minority Interest	$0
TOTAL EQUITY	$3.7B
TOTAL LIABILITIES & EQUITY	$7.7B
Total Debt	$4.5B
Net Debt	$4.1B