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Callaway Golf Company (CALY) investor relations material
Callaway Golf Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 net sales fell 5.6% to $436.9M, while Adjusted EBITDA rose 17.3% to $35.9M; FY26 net sales and Adjusted EBITDA guidance increased.
Strategic divestitures refocused the business on golf, strengthened the balance sheet and supported profitability and shareholder returns.
Financial highlights
Q3 GAAP operating income was $44.7M vs. $4.8M; continuing-operations net income was $48.1M vs. a $4.1M loss. Results included tariff-refund benefits and a Full Swing investment gain.
Q3 non-GAAP continuing-operations net income was $22.9M vs. an $11.1M loss; diluted EPS was $0.12 vs. a $0.06 loss.
9M sales rose 2.6% to $1,736.6M; Adjusted EBITDA increased 31.1% to $324.5M, and non-GAAP diluted EPS was $1.10 vs. $0.45.
9M GAAP operating income was $297.7M vs. $182.2M; continuing-operations net income was $198.8M vs. $104.8M.
Q3 non-GAAP gross margin was 45.0%, up 520 bps; 9M non-GAAP gross margin was 47.3%, up 410 bps.
Outlook and guidance
FY26 net sales guidance increased to $2.065B–$2.078B from $2.045B–$2.070B; midpoint rose $14M.
FY26 Adjusted EBITDA guidance increased to $272M–$280M from $246M–$260M; midpoint rose $23M.
Q4 net sales guidance is $328M–$341M vs. $368M; Adjusted EBITDA is a loss of $53M–$45M vs. a $25M loss in Q4 2025.
Q4 outlook reflects shifted launch timing, lower-margin product rationalization, fitting investment and reduced dividend income; FY26 capex is estimated at $40M.
- FY revenue rose 7.2%; FY 2024 Adjusted EBITDA guidance is $620M–$640M.CALY
Q4 2023 - Q2 2026 net income jumped 67% on higher sales, margins, and raised full-year guidance.CALY
Q2 2026 - Q1 2026 net sales and EBITDA rose sharply, driving higher full-year guidance and capital returns.CALY
Q1 2026 - Virtual annual meeting to vote on directors, auditor, and executive pay, with online participation.CALY
Proxy filing - Virtual meeting to vote on directors, auditor, and executive pay, with strong ESG and governance focus.CALY
Proxy filing - Divestitures drove a net cash position and margin focus, with stable 2026 guidance.CALY
Q4 2025 - Ongoing business revenue up 3% and guidance raised after strong Q3 and Topgolf growth.CALY
Q3 2025 - Q1 2025 profit and margin gains offset revenue drop as separation and asset sale progress.CALY
Q1 2025 - Q4 saw strong growth and record margins, but a Topgolf impairment drove a full-year net loss.CALY
Q4 2024
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