Callaway Golf Company (ELY) Q2 2022 Earnings Conference Call August 4, 2022 5:00 PM ET

Company Participants

Patrick Burke - SVP, Global Finance

Chip Brewer - President and CEO

Brian Lynch - CFO

Conference Call Participants

Alex Perry - Bank of America

Joe Altobello - Raymond James

Daniel Imbro - Stephens

Kevin Heenan - JPMorgan

Brett Andress - KeyBanc

Susan Anderson - B. Riley

Operator

Good day and welcome to the Q2 2022 Callaway Golf Company Earnings Call. Today's conference is being recorded.

At this time, I would now like to turn the conference over to Patrick Burke, Senior Vice President of Global Finance. Please go ahead.

Patrick Burke

Thank you, Justin, and good afternoon everyone. Welcome to Callaway’s second quarter 2022 earnings conference call. I’m Patrick Burke, the Company’s SVP of Global Finance. Joining me as speakers on today’s call are Chip Brewer, our President and Chief Executive Officer; and Brian Lynch, our Chief Financial Officer. Jennifer Thomas, our Chief Accounting Officer is also in the room today for Q&A.

Earlier today the company issued a press release announcing its second quarter 2022 financial results. In addition, there is a presentation that accompanies today’s prepared remarks and may make it easier for you to follow the call. This earnings presentation, as well as the earnings press release are both available on the company’s Investor Relations website under the Financial Results tab.

Most of the financial numbers reported and discussed on today’s call are based on U.S. Generally Accepted Accounting Principles. In the instances where we report non-GAAP measures, we have reconciled the non-GAAP measures to the corresponding GAAP measures at the back of the presentation in accordance with Regulation G.

Please note that this call will include forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from management’s current expectations. We encourage you to review the Safe Harbor statements contained in the presentation and the press release for a more complete description.

And with that, I would now like to turn the call over to Chip Brewer.

Chip Brewer

Thank you, Patrick. Good afternoon to everyone on our call and thank you for joining us. I'm pleased to report strong second quarter results driven by the continued strength of all three of our business segments.

Total net revenue was just over $1.1 billion, up 22% year-over-year. Flow through to the bottom-line was strong as well with adjusted EBITDA of $207 million, up 26% on a reported basis. These results clearly show continued momentum across all of our business portfolio and leave us in a position of strength as we look to the full year and the long-term.