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Callaway’s Brewer On “New Ground” in Dealing with ELY’s Struggling Stock Price

It’s rare that an executive of a publicly traded company speaks on the record about his or her company’s stock price, but that’s what Callaway Golf president and CEO Chip Brewer did on a May 10 conference call with Wall Street analysts to discuss his company’s Q1 earnings.

Despite strong quarterly numbers the past two years, Brewer has watched Callaway’s tumble on a almost daily basis since a 52-week high of $37.75 per share on June 1, 2021, to a 52-week low of $17.78 on May 10, just hours before ELY reported record Q1 revenue of $1.04 billion dollars, including $322 million from Topgolf. 

”I’ve never in my 20-plus years now of running a public company seen as big a fundamental difference between the performance of the company and the share price,’’ Brewer said in response to an analyst’s question about how a company’s numbers look good but its stock underperforms. “This is new ground for me. I’ve seen it to some degree, but nowhere near where it is right now. 

“But obviously, overall, I’m extremely pleased with the direction of the business and the operating results. We are really seeing strength across all geographies and all business segments, ‘’

 

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