NYSE:CALYLeisure
Callaway Golf (MODG) Stock Slips After Margin Surge Raises Durability Questions
Callaway Golf stock slipped about 2% today, even though the quarter just delivered one of the cleanest margin stories the company has put up in a while. Revenue for Q2 came in at US$612.2m, but the real headline was profit quality, with net income from ongoing operations at US$75.8m and management highlighting a sharp lift in gross margin.
Investors came into this print after a strong 90 day run in the stock, so expectations were high. The reaction suggests nerves about sustainability, not...