CALY Callaway Golf Co

BULLISH Impact: 8/10 8-K
Horizon immediate Filed May 7, 2026 Processed 1mo ago SEC 0000837465-26-000016
8-K Item 2.02: Earnings release
Latest settled — T+20d ⚠ clustered
CALY ▼ -15.53% at T+20d
LONG call ✗ call lost -15.53% · α vs SPY -15.55% · entry $17.52 → $14.80
Next anchor: T+60d in 8w
Last close $15.64 (close Jun 8) · -10.73% from $17.52 entry
Entry anchored
May 7, 2026
via day open
T+1d
-8.05%
call -8.05% · α -8.28%
$16.11
settled 5w ago
T+5d
-13.13%
call -13.13% · α -14.59%
$15.22
settled 27d ago
T+20d
-15.53%
call -15.53% · α -15.55%
$14.80
settled 5d ago
T+60d
—
call — · α —
—
in 8w

Price Chart

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Executive Summary

Callaway Golf reported a strong Q1 2026 beat: revenue of $687.5M (+9.2% YoY) beat consensus of $651.4M, and non-GAAP EPS of $0.56 beat the $0.42 estimate. The company raised full-year guidance for both revenue and Adjusted EBITDA, reflecting strong demand for new products and margin expansion. The post-Topgolf pure-play golf strategy is delivering results.

Key Financial Metrics

Guidance
$2.015B-$2.070B
raised
Free Cash Flow
-$176.0M
Gross Margin
47.7%

Actionable Insight

The strong beat and raised guidance confirm momentum in the core golf business. Expect positive price action. Monitor Q2 guidance for any tariff headwinds or macro softness. The net cash position and share buyback support the stock.

Key Facts

  • Q1 2026 revenue $687.5M (+9.2% YoY) vs consensus $651.4M
  • Non-GAAP diluted EPS $0.56 vs consensus $0.42 (+33.3% beat)
  • GAAP gross margin expanded 250 bps to 47.5%; non-GAAP up 260 bps to 47.7%
  • Raised FY2026 net sales outlook to $2.015B-$2.070B (from $1.98B-$2.05B)
  • Raised FY2026 Adjusted EBITDA outlook to $211M-$233M (from $170M-$195M)
  • Net cash position; settled $258M convertible notes in cash on May 1, 2026
  • Repurchased $79M in shares through April 2026

Financial Impact

Revenue beat by $36.1M, non-GAAP EPS beat by $0.14; guidance raised by $35M-$20M for revenue and $41M-$38M for Adjusted EBITDA

revenueepsgross marginebitda

Risk Factors

  • Incremental tariff expense ($18M in Q1) could pressure margins if not offset
  • Macroeconomic uncertainty may impact consumer discretionary spending on golf
  • Equity method loss from remaining 40% Topgolf stake ($27.7M in Q1) remains a drag

Market Snapshot

Exchange
NYSE
Sector
Sporting & Athletic Goods, NEC
Analyst Consensus
60% bullish (20 analysts)

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0000837465-26-000016
Document: modg-20260507.htm0000837465-26-000016
Document: 0000837465-26-000016-index-headers.html0000837465-26-000016
Document: 0000837465-26-000016-index.html0000837465-26-000016
Document: 0000837465-26-000016.txt0000837465-26-000016
8-K Data (Synthetic)0000837465-26-000016
3 reports for CALY
Performance horizon
Filters
Rows
Reports for CALY — sortable, filterable
Type Now
May 26, 2026
14d ago
8-K
NEUTRAL ★ 2/10
$15.77 $15.01▼ −4.82%▼ −5.29%$15.64 (−0.82%)
May 7, 2026
4w ago
8-K
BULLISH ★ 8/10
$17.52 $15.22▼ −13.13%▼ −14.59%$15.64 (−10.73%)
Apr 8, 2026
8w ago
DEFA14A
NEUTRAL ★ 3/10
$14.50 $14.30▼ −1.38%▼ −4.57%$15.64 (+7.86%)
Showing 3 of 3

US Market Status

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