Callaway Golf Stock Gains On Raised Q3, FY21 Outlook

Callaway Golf Co ELY has raised its outlook for Q3 and FY2021.
The company has raised its Q3 revenue forecast to $850 million - $860 million (prior $775 million – $790 million) versus the consensus of $753.13 million.
It sees Q3 Adjusted EBITDA to $105 million - $110 million (prior $51 million - $58 million).
Callaway has raised FY21 revenue guidance to $3.065 billion - $3.095 billion (prior $3.025 billion – $3.055 billion) versus the consensus of $3.04 billion.
It sees FY21 Adjusted EBITDA to $370 million - $390 million (prior $345 million - $360 million).
The company attributed the raised outlook mainly to mitigation of supply chain disruption, Topgolf business performance, and deferred operating expenditures.
Price Action: ELY shares are trading higher by 2.98% at $28.67 on the last check Tuesday.