RTTNews | Sep 7, 2021 08:02AM EDT

08:02 Tuesday, September 7, 2021 (RTTNews.com) - Callaway Golf Co. (ELY) on Tuesday raised its net revenue and adjusted EBITDA guidance for the third quarter and the full year 2021, based on mitigation of supply chain disruption, better-than-expected performance and deferring of operating expenditures.

For fiscal 2021, the company now projects net revenue in a range of $3.065 billion to $3.095 billion and adjusted EBITDA in a range of $370 million to $390 million.

Previously, the company expected net revenue in the range of $3.025 billion to $3.055 billion and adjusted EBITDA in the range of $345 million to $360 million.

On average, nine analysts polled by Thomson Reuters expect the company to report net revenues of $3.04 billion for the year.

For the third quarter, the company now projects net revenue in a range of $850 million to $860 million and adjusted EBITDA in a range of $105 million to $110 million.

Previously, the company expected net revenue in a range of $775 million to $790 million and adjusted EBITDA in a range of $51 million to $58 million.

The Street is looking for revenues of $782.32 million for the quarter.

"The updated guidance we are providing today reflects not only the continued overperformance and strength of our diversified portfolio but also our operational flexibility, which is allowing us to adapt and react as business conditions change," said Chip Brewer, President and CEO.

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