Releasing Q2 earnings minutes before the stock market closed, MODG revealed that net income dropped 55% to $62.1 million from $117.4 million on 2% lower revenues of $1,157.8 million against $1,179.7 million, pulled down by lower golf equipment and softgoods sales. Adjusted EBITDA, which also backs out stock compensation and non-cash lease amortization in addition to interest, taxes and depreciation, inched down less than 1% to $205.6 million. The home U.S. market was just positive, growing to $891.3 million bolstered by Topgolf, while sales in Europe fell 5% (-5% CC) to ... Log in to view full article.