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.
Price Chart
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
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
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
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000837465-26-000016 |
| Document: modg-20260507.htm | 0000837465-26-000016 |
| Document: 0000837465-26-000016-index-headers.html | 0000837465-26-000016 |
| Document: 0000837465-26-000016-index.html | 0000837465-26-000016 |
| Document: 0000837465-26-000016.txt | 0000837465-26-000016 |
| 8-K Data (Synthetic) | 0000837465-26-000016 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | Press Release | $14.14 | awaiting T+5 | — | $14.26 (+0.85%) |
Oct 12, 2026 14d ago | Institutional Cluster | $13.70 $13.75 | ▲ +0.36% | ▲ +1.86% | $14.26 (+4.09%) |
Aug 10, 2026 11w ago | Insider Cluster | $16.86 $16.14 | ▼ −4.27% | ▼ −3.87% | $14.26 (−15.42%) |
May 26, 2026 21w ago | 8-K | $15.77 $15.01 | ▼ −4.82% | ▼ −5.29% | $14.26 (−9.58%) |
May 7, 2026 24w ago | 8-K | $17.52 $15.22 | ▼ −13.13% | ▼ −14.59% | $14.26 (−18.61%) |
Apr 8, 2026 28w ago | DEFA14A | $14.50 $14.30 | ▼ −1.38% | ▼ −4.57% | $14.26 (−1.66%) |
US Market Status
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