Callaway Golf Company (CALY)

Callaway Golf Company Announces Full Repayment of Term Loan BJune 1, 2026 4:15 PM
PR Newswire (US) CARLSBAD, Calif., June 1, 2026 /PRNewswire/ -- Callaway Golf Company (NYSE: CALY)(the "Company") today announced that it has repaid in full the remaining approximately $163 million outstanding under its term loan B facility, following its voluntary prepayment of $1 billion of term loan B debt in January 2026. The repayment was funded with cash on hand, further simplifying the Company's capital structure. Immediately following the repayment, the Company had approximately $53 million of remaining gross debt, consisting of approximately $44 million under its Japan ABL facility and approximately $9 million of equipment notes and finance leases, as well as unrestricted cash and cash equivalents of over $150 million. The repayment will reduce future cash interest expense and enhance financial flexibility."This final repayment marks an important milestone in the balance sheet actions we outlined earlier this year," said Brian Lynch, Chief Financial Officer and Chief Legal Officer. "With our term loan B now fully repaid, we are well positioned to continue executing our capital allocation priorities with a strong balance sheet."This repayment is consistent with the Company's previously communicated capital allocation priorities of reinvesting in the business, maintaining a healthy balance sheet and returning capital to shareholders. The Company continues to expect to end the year in a net cash to zero net leverage position.About Callaway Golf Company
Callaway Golf Company (NYSE: CALY), is a premium golf equipment, gear and apparel company with a portfolio of global brands, including Callaway Golf, Odyssey, TravisMathew, and OGIO. Through an unwavering commitment to innovation and premium craftsmanship, Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories—setting the standard for performance in the game of golf. For more information, please visit https://ir.callawaygolf.com.Forward-Looking StatementsStatements used in this press release that relate to future plans, events, financial results, performance, prospects, or growth opportunities, including statements relating to the Company's net leverage and cash balances at the end of the year, future cash interest expense, capital allocation priorities and positioning to return capital to shareholders, health of the Company's balance sheet and financial flexibility, and statements of belief and any statement of assumptions underlying any of the foregoing, are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "estimate," "could," "would," "should," "intend," "may," "plan," "seek," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements, which speak only as of the date the statements were made and are not guarantees of future performance. These statements are based upon current information and expectations. Accurately estimating the forward-looking statements is based upon various risks and unknowns. Actual results may differ materially from those estimated or anticipated as a result of the risks and unknowns identified in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 or other risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.Investor Contact
Patrick Burke
invrelations@callawaygolf.com View original content to download multimedia:https://www.prnewswire.com/news-releases/callaway-golf-company-announces-full-repayment-of-term-loan-b-302787470.htmlSOURCE Callaway Golf Company Original: Callaway Golf Company Announces Full Repayment of Term Loan B

CALLAWAY GOLF COMPANY ANNOUNCES FIRST QUARTER 2026 RESULTSMay 7, 2026 4:15 PM
PR Newswire (US) First Quarter Net Sales (+9%), Net Income from Continuing Operations (+18%) and Adjusted EBITDA (+31%)Raises Full Year 2026 Net Sales and Adjusted EBITDA OutlookHIGHLIGHTSQ1 Non-GAAP Net Income from Continuing Operations increased 96%.Q1 GAAP and Non-GAAP Gross Margin increased 250 basis points and 260 basis points year-over-year, respectively.Repurchased $79 million of outstanding common shares through April 2026, including $75 million in open market transactions.On May 1, upon maturity, the Company settled in full its $258 million of convertible notes in cash and remains in a net cash position.Increasing full year 2026 net sales outlook to $2.015 billion - $2.070 billion and Adjusted EBITDA outlook to $211 million - $233 million.CARLSBAD, Calif., May 7, 2026 /PRNewswire/ -- Callaway Golf Company (the "Company," "Callaway," "we," "our," "us") (NYSE: CALY) announced its financial results for the first quarter ended March 31, 2026."We had a strong start to the year with first quarter revenue increasing 9% and Adjusted EBITDA increasing 31%," commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company. "While these results reflect some timing between quarters that benefitted Q1, overall these results reflect strong demand for our new products and the good progress we are making with our gross margin and cost savings initiatives. In addition, despite the increased macroeconomic uncertainty, the golf industry and golf consumer remain healthy. This all allows us to increase our expectations for the full year. Lastly, and perhaps most importantly, as the team and I have now had the opportunity to fully refocus on this business over the last several months, we are energized by the longer-term opportunities we see. In short, we are pleased with both the start to our year and what we see as the longer-term direction of our business."CONSOLIDATED RESULTSThe Company announced the following GAAP and non-GAAP financial results for the three months ended March 31, 2026 and 2025:GAAP RESULTS






(in millions, except percentages and per share data)Three Months Ended March 31,
2026
2025
$ Change
% ChangeNet sales$   687.5
$   629.6
$     57.9
9.2 %Income (loss) from operations138.2
103.1
35.1
34.0 %Total other income (expense), net(2.9)
(12.5)
9.6
(76.8) %Income (loss) from equity method investments(27.7)
—
(27.7)
n/mIncome (loss) from continuing operations, before income taxes107.6
90.6
17.0
18.8 %Income tax provision (benefit) 32.7
27.2
5.5
20.2 %Net income (loss) from continuing operations$     74.9
$     63.4
$     11.5
18.1 %Net income (loss) from discontinued operations, net of tax18.2
(61.3)
79.5
(129.7) %Net income (loss)$     93.1
$       2.1
$     91.0
n/mNet earnings (loss) per common share from continuing operations - diluted$     0.38
$     0.33
$     0.05
15.2 %Net earnings (loss) per common share - diluted$     0.47
$     0.02
$     0.45
n/mWeighted-average common shares outstanding - diluted202.7
198.2
4.5
2.3 %NON-GAAP RESULTSNon-GAAP results (1) exclude certain non-cash and non-recurring adjustments and (2) include certain adjustments to interest expense that were otherwise presented in discontinued operations, both as further explained in the Additional Information and Disclosures section of this release. The Company has also provided a reconciliation of the non-GAAP information to the most directly comparable GAAP information in the tables to this release.(in millions, except percentages and per share data)Three Months Ended March 31,
2026
2025
$
Change
%
Change
Constant Currencyvs. 2025(1)Net sales$ 687.5
$ 629.6
$  57.9
9.2 %
8.0 %Non-GAAP income (loss) from operations$ 142.2
$ 104.4
$  37.8
36.2 %
30.0 %Non-GAAP net income (loss) from continuing operations$ 111.8
$   57.1
$  54.7
95.8 %

Non-GAAP earnings (loss) per common share from continuing operations - diluted$   0.56
$   0.30
$  0.26
86.7 %

Non-GAAP Adjusted EBITDA$ 163.7
$ 124.9
$  38.8
31.1 %



(1)See "Additional Information and Disclosures—Non-GAAP Information" for the calculation methodology of constant currency measures.FIRST QUARTER 2026 CONSOLIDATED RESULTS COMMENTARY(All comparisons to prior periods are calculated on a year-over-year basis, unless otherwise noted)The Company's net sales from continuing operations of $687.5 million increased 9.2% due to a 9.5% increase in the Golf Equipment segment, driven by its strong new product lineup and a healthy start to the golf season. Additionally, the Company had an 8.4% increase in the Apparel, Gear and Other segment as a result of strength in TravisMathew sales. The Company also saw a $7.6 million benefit from foreign currency as the U.S. dollar weakened early in the quarter.GAAP and non-GAAP gross margin increased approximately 250 and 260 basis points to 47.5% and 47.7%, respectively. The increases in gross margin were due to the increased sales and positive impacts from the Company's gross margin initiatives, which include select price increases.GAAP operating expense increased 4.4%, while non-GAAP operating expense increased 3.4%. The increased expense was due to lapping the $12 million one-time benefit related to the early termination of the Company's former Japan headquarters lease in Q1 last year. Excluding the Japan lease, expenses were down versus last year driven by the previously announced cost-savings initiatives and some timing of spend between Q1 and Q2.Net income from continuing operations was $74.9 million on a GAAP basis and $111.8 million on a non-GAAP basis. Adjusted EBITDA from continuing operations was $163.7 million, which represented a 31.1% increase year-over-year. The increase in Adjusted EBITDA was driven primarily by higher net sales and improved gross margins. These benefits more than offset approximately $18 million of incremental tariff expense and the year-over-year headwind from lapping the $12 million one-time Japan lease benefit in Q1 2025.SEGMENT RESULTSSEGMENT NET SALESThe table below provides net sales by segment for the periods presented:(in millions, except percentages)Three Months Ended March 31,
Constant Currencyvs. 2025(1)
2026
2025
% Change
%
ChangeGolf Equipment$    486.2
$    443.9
9.5 %
8.0 %Apparel, Gear and Other201.3
185.7
8.4 %
7.9 %Net sales$    687.5
$    629.6
9.2 %
8.0 %

(1)See "Additional Information and Disclosures—Non-GAAP Information" for the calculation methodology of constant currency measures.SEGMENT OPERATING INCOMEThe table below provides the breakout of segment operating income for the periods presented:(in millions, except percentages)Three Months Ended March 31,
2026
2025
ChangeGolf Equipment$    117.6
$    101.8
15.5 %% of segment net sales24.2 %
22.9 %
     130  bpsApparel, Gear and Other52.0
35.4
46.9 %% of segment net sales25.8 %
19.1 %
     670  bpsTotal Segment Operating Income (loss)$    169.6
$    137.2
23.6 %% of total segment net sales24.7 %
21.8 %
     290  bpsTotal Segment Operating Income Constant Currency Growth (Decline)



18.9 %The following is a reconciliation on a GAAP basis of total segment operating income to income before income taxes for the periods presented:
Three Months Ended March 31,(in millions)2026
2025
$ ChangeTotal Segment operating income (loss):$      169.6
$      137.2
$       32.4Non-recurring expenses (1)(4.0)
(1.3)
(2.7)Corporate costs and expenses (2)(27.4)
(32.8)
5.4Income (loss) from operations138.2
103.1
35.1Interest income (expense), net(5.8)
(14.9)
9.1Other income (expense), net2.9
2.4
0.5Income (loss) from equity method investments(27.7)
—
(27.7)Income (loss) from continuing operations, before income taxes$      107.6
$        90.6
$       17.0

(1)Includes certain non-recurring and non-cash items as described in the schedules to this release.(2)Includes corporate general and administrative expenses not utilized by management in determining segment profitability. For 2025, Corporate costs and expenses also includes adjustments for discontinued operations related to indirect costs that were previously allocated to the Topgolf and Jack Wolfskin businesses.BALANCE SHEET AND CASH FLOW HIGHLIGHTSInventory decreased $15.3 million year-over-year to $596.4 million, largely driven by timing of shipments.As of March 31, 2026, the Company was in a net cash position with $474 million in debt outstanding and unrestricted cash and cash equivalents of $500 million.On May 1, 2026, upon maturity, the Company settled in full in cash its $258 million of convertible notes.This year through April 30, 2026, the Company has repurchased 5.6 million shares of its common stock at an average cost of $14.08 per share2026 OUTLOOK 2026 FULL YEAR OUTLOOK(in millions, except where noted otherwise)




2026 Current Estimate2026Previous Estimate2025As ReportedConsolidated Net Sales$2.015 to $2.070B$1.98B to $2.05B$2.06BAdjusted EBITDA (1)$211 to $233$170 to $195$222

(1)Non-GAAP measure. See "Additional Information and Disclosures—Non-GAAP Information" for more information and the schedules to this press release for reconciliations to the most directly comparable GAAP measure. 2026 SECOND QUARTER OUTLOOK(in millions)



Q2 2026Estimate
Q2 2025As ReportedConsolidated Net Sales$585 to $610
$600Adjusted EBITDA (1)$98 to $108
$92

(1)Non-GAAP measure. See "Additional Information and Disclosures—Non-GAAP Information" for more information and the schedules to this press release for reconciliations to the most directly comparable GAAP measure.ADDITIONAL INFORMATION AND DISCLOSURESConference Call and WebcastThe Company will be holding a conference call at 2:00 p.m. Pacific time today, May 7, 2026, to discuss the Company's financial results, outlook and business. The call will be webcast live on our investor relations website at https://ir.callawaygolf.com/news-and-events/presentations. The Company's earnings presentation will be available ahead of the call and will include additional details. A replay of the conference call will be available approximately two hours after the call ends. The replay may be accessed through the Investor Relations section of the Company's website at https://ir.callawaygolf.com.Non-GAAP InformationThe GAAP results contained in this press release and the financial statement schedules attached to this press release have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). To supplement the GAAP results, the Company has provided certain non-GAAP financial information as follows:Constant Currency Basis. The Company provided certain information regarding the Company's financial results or projected financial results on a "constant currency basis" or as "constant currency" results. This information estimates the impact of changes in foreign currency exchange rates on the translation of the Company's current or projected future period financial results as compared to the applicable comparable period. This impact is derived by taking the current or projected local currency results and translating them into U.S. dollars based upon the foreign currency exchange rates for the applicable comparable period. It does not include any other effect of changes in foreign currency rates on the Company's results or business.Non-Recurring, Non-cash and Interest Expense Adjustments. The Company provided information excluding certain non-cash amortization of acquired intangible assets, including customer and distributor relationships and acquired developed technology related to the Company's acquisitions of TravisMathew and OGIO (together, the "Acquisitions"). While the amortization of acquired intangible assets is excluded from the calculation of non-GAAP net income, the revenue and operating costs associated with these acquired companies is reflected in non-GAAP net income calculations, as well as the acquired assets that contribute to revenue generation. For specific non-recurring adjustment items, please see the Supplemental Financial Information and Non-GAAP Reconciliation section of this release. Non-recurring adjustments include, among other things subtraction of costs related to a plan intended to optimize organizational efficiencies and decrease operating costs under the separate business structures that are anticipated after the separation of Topgolf (the "Transformation Plan"). Costs incurred related to Non-Recurring and Non-Cash Adjustments are excluded from the measurement of segment profitability for internal and external reporting purposes. In addition, we have added back to certain of our non-GAAP results interest expense relating to debt incurred at the corporate level that is categorized under discontinued operations in order to burden continuing operations with the full impact of the Company's total term debt.Adjusted EBITDA. The Company provides information about its results excluding interest, taxes, depreciation and amortization expenses, stock compensation expense, non-cash lease amortization expense, and the non-recurring and non-cash items referenced above.In addition, the Company has included in the schedules attached to this release a reconciliation of certain non-GAAP information to the most directly comparable GAAP information. The non-GAAP information presented in this release and related schedules should not be considered in isolation or as a substitute for any measure derived in accordance with GAAP. The non-GAAP information may also be inconsistent with the manner in which similar measures are derived or used by other companies. Management uses such non-GAAP information for financial and operational decision-making purposes and as a means to evaluate period-over-period comparisons and in forecasting the Company's business going forward. Management believes that the presentation of such non-GAAP information, when considered in conjunction with the most directly comparable GAAP information, provides additional useful comparative information for investors in their assessment of the underlying performance, and, in some cases, financial condition, of the Company's business with regard to these items.For forward-looking Adjusted EBITDA from Continuing Operations, a reconciliation to net income (loss) from continuing operations, the most closely comparable GAAP financial measure, is not provided because the Company is unable to provide such reconciliation without unreasonable efforts. The inability to provide a reconciliation is because the Company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact net income in the future but would not impact Adjusted EBITDA from Continuing Operations. These items may include certain non-cash depreciation, which will fluctuate based on the Company's level of capital expenditures, non-cash amortization of intangibles related to the Company's Acquisitions, income taxes, which can fluctuate based on changes in the other items noted and/or future forecasts, interest expense, which varies based upon the amount of borrowing to fund the business, and other non-recurring costs and non-cash adjustments. Historically, the Company has excluded these items from Adjusted EBITDA from Continuing Operations. The Company currently expects to continue to exclude these items in future disclosures of Adjusted EBITDA from Continuing Operations and may also exclude other items that may arise. The events that typically lead to the recognition of such adjustments are inherently unpredictable as to if or when they may occur, and therefore actual results may differ materially. This unavailable information could have a significant impact on net income.Equity Method Investments. The Company also removes any income or losses from equity method investments from non-GAAP net income from continuing operations and Adjusted EBITDA.Forward-Looking StatementsStatements used in this press release that relate to future plans, events, financial results, performance, prospects, or growth opportunities, including statements relating to the Company's second quarter and full year 2026 guidance (including net sales, Adjusted EBITDA from Continuing Operations and cash balances), strength and demand of the Company's products and services, continued brand momentum, positioning of the Company's brands to gain market share, demand for golf and outdoor activities and apparel, continued investments in the business, consumer trends and behavior, future industry and market conditions, completion of any share repurchases, including the timing and amount thereof, return of capital to shareholders and positioning to create shareholder value, future liquidity, foreign currency effects and their impacts, tariff and tax rates and the effectiveness of mitigation efforts relating thereto, potential refunds of IEEPA tariffs, and statements of belief and any statement of assumptions underlying any of the foregoing, are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "estimate," "could," "would," "should," "intend," "may," "plan," "seek," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements, which speak only as of the date the statements were made and are not guarantees of future performance. These statements are based upon current information and expectations. Accurately estimating the forward-looking statements is based upon various risks and unknowns, including uncertainty regarding global economic conditions, including relating to inflation, decreases in consumer demand and spending, and any severe or prolonged economic downturn or economic recession; the Company's level of indebtedness; continued availability of credit facilities and liquidity and ability to comply with applicable debt covenants; effectiveness of capital allocation and cost/expense reduction efforts; continued brand momentum and product success; growth in the direct-to-consumer and e-commerce channels; ability to realize the benefits of the continued investments in the Company's business; consumer acceptance of and demand for the Company's and its subsidiaries' products; any changes in U.S. or foreign trade, tax or other policies, including restrictions on imports or an increase in import tariffs; future retailer purchasing activity, which can be significantly negatively affected by adverse industry and economic conditions and overall retail inventory levels; the level of promotional activity in the marketplace; and future changes in foreign currency exchange rates and the degree of effectiveness of the Company's hedging programs. Actual results may differ materially from those estimated or anticipated as a result of these risks and unknowns or other risks and uncertainties, including the effect of terrorist activity, armed conflict, natural disasters or pandemic diseases on the economy generally, on the level of demand for the Company's and its subsidiaries' products or on the Company's ability to manage its operations, supply chain and delivery logistics in such an environment; delays, difficulties or increased costs in the supply of components or commodities needed to manufacture the Company's products or in manufacturing the Company's products; and a decrease in participation levels in golf generally. For additional information concerning these and other risks and uncertainties that could affect these statements and the Company's business, see the Company's Annual Report on Form 10-K for the year ended December 31, 2025 as well as other risks and uncertainties detailed from time to time in the Company's reports on Forms 10-K, 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.About Callaway Golf CompanyCallaway Golf Company (NYSE: CALY), is a premium golf equipment, gear and apparel company with a portfolio of global brands, including Callaway Golf, Odyssey, TravisMathew, and OGIO. Through an unwavering commitment to innovation and premium craftsmanship, Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories—setting the standard for performance in the game of golf. For more information, please visit https://ir.callawaygolf.com. Investor Contact
Patrick Burke
invrelations@callawaygolf.com  CALLAWAY GOLF COMPANYCONDENSED CONSOLIDATED BALANCE SHEETS(In millions)(Unaudited)

March 31, 2026
December 31, 2025ASSETS


Current assets:


Cash and cash equivalents$            499.5
$            903.2Accounts receivable, net393.8
123.2Inventories596.4
625.3Other current assets135.6
113.9Current assets of discontinued operations—
4,170.0Total current assets1,625.3
5,935.6Property, plant and equipment, net156.2
159.5Operating lease right-of-use assets, net164.5
173.5Goodwill and intangible assets, net841.7
842.2Equity method investments221.2
—Other assets, net171.6
175.2Total assets$         3,180.5
$         7,286.0LIABILITIES


Current liabilities:


Accounts payable and accrued expenses$            282.9
$            296.2Accrued employee compensation and benefits54.2
84.9Long-term debt, current portion274.4
765.3Asset-based credit facilities44.1
44.7Operating lease liabilities, short-term22.6
22.9Deferred revenue15.5
21.5Other current liabilities19.9
18.5Current liabilities of discontinued operations—
3,113.5Total current liabilities713.6
4,367.5Long-term debt, net152.9
650.7Operating lease liabilities, long-term181.1
189.7Other long-term liabilities9.0
9.2Total shareholders' equity2,123.9
2,068.9Total liabilities and shareholders' equity$         3,180.5
$          7,286.0 CALLAWAY GOLF COMPANYCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In millions, except per share data)(Unaudited)

Three Months Ended March 31,
2026
2025Net sales$          687.5
$           629.6Cost of sales360.8
346.0Gross profit326.7
283.6Operating expenses:


Selling, general and administrative expense173.3
164.6Research and development expense15.2
15.9Total operating expenses188.5
180.5Income (loss) from operations138.2
103.1Interest income (expense), net(5.8)
(14.9)Other income (expense), net2.9
2.4Total other income (expense), net(2.9)
(12.5)Income (loss) from equity method investments(27.7)
—Income (loss) from continuing operations, before income taxes107.6
90.6Income tax provision (benefit)32.7
27.2Net income (loss) from continuing operations$            74.9
$             63.4Net income (loss) from discontinued operations, net of tax18.2
(61.3)Net income (loss) $            93.1
$               2.1



Basic earnings (loss) per common share:


Continuing operations$            0.41
$             0.35Discontinued operations$            0.10
$           (0.33)Net earnings (loss)$            0.51
$             0.01



Diluted earnings (loss) per common share:


Continuing operations$            0.38
$             0.33Discontinued operations$            0.09
$           (0.31)Net earnings (loss)$            0.47
$             0.02



Weighted-average common shares outstanding:


Basic183.7
183.4Diluted202.7
198.2 CALLAWAY GOLF COMPANYCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW(In millions)(Unaudited)

Three Months Ended March 31,
2026
2025Cash flows from operating activities:


Net income (loss) from continuing operations$       74.9
$       63.4Adjustments to reconcile net income (loss) from continuing operations to net cash provided by (used in) operating
activities:


Depreciation and amortization10.8
11.7Loss from equity method investments27.7
—Amortization of debt discount and issuance costs0.8
1.5Gain on lease termination incentive—
(12.0)Deferred taxes, net19.5
22.6Share-based compensation6.4
5.9Loss from partial debt extinguishment7.5
—Loss on asset disposals0.6
—Unrealized net losses (gains) on hedging instruments and foreign currency(0.7)
5.2Gain on investment from golf-related ventures(4.5)
—Other(0.5)
0.2Change in assets and liabilities, net of business combinations(311.5)
(207.4)Net cash provided by (used in) operating activities - continuing operations(169.0)
(108.9)Net cash provided by (used in) operating activities - discontinued operations—
23.7Net cash provided by (used in) operating activities(169.0)
(85.2)Cash flows from investing activities:


Capital expenditures(7.0)
(7.8)Proceeds from sale of business line, net of cash retained818.8
—Net cash provided by (used in) investing activities - continuing operations811.8
(7.8)Net cash provided by (used in) investing activities - discontinued operations—
(62.2)Net cash provided by (used in) investing activities811.8
(70.0)Cash flows from financing activities:


Repayments of long-term debt(1,004.3)
(4.6)Proceeds from credit facilities, net—
19.9Debt issuance costs—
(0.4)Repayments of financing leases(0.1)
(0.1)Acquisition of treasury stock(42.0)
(3.3)Net cash provided by (used in) financing activities - continuing operations(1,046.4)
11.5Net cash provided by (used in) financing activities - discontinued operations—
13.6Net cash provided by (used in) financing activities(1,046.4)
25.1Effect of exchange rate changes on cash, cash equivalents and restricted cash(0.4)
2.5Net increase (decrease) in cash, cash equivalents and restricted cash(404.0)
(127.6)Cash, cash equivalents and restricted cash at beginning of period903.5
450.3Cash, cash equivalents and restricted cash at end of period$     499.5
$     322.7Less: restricted cash of discontinued operations at end of period—
(5.7)Cash and cash equivalents of continuing operations at end of period$     499.5
$     317.0 CALLAWAY GOLF COMPANYCONSOLIDATED NET SALES AND OPERATING SEGMENT INFORMATION(In millions)(Unaudited)

Net Sales by Product Category
Three Months Ended March 31,
Growth/(Decline)
Constant Currencyvs. 2025(1)
2026
2025
Dollars
Percent
PercentNet sales:








Golf Clubs$      380.6
$      340.0
$       40.6
11.9 %
10.4 %Golf Balls105.6
103.9
1.7
1.6 %
0.3 %Apparel102.7
98.0
4.7
4.8 %
5.1 %Gear, Accessories & Other98.6
87.7
10.9
12.4 %
11.1 %Total net sales$      687.5
$      629.6
$       57.9
9.2 %
8.0 %









(1) Calculated by applying 2025 exchange rates to 2026 reported net sales in regions outside the U.S.










Net Sales by Region
Three Months Ended March 31,
Growth/(Decline)
Constant Currencyvs. 2025(1)
2026
2025
Dollars
Percent
PercentNet sales:








United States$      448.8
$      416.1
$       32.7
7.9 %
7.9 %Europe83.2
64.3
18.9
29.4 %
18.2 %Asia103.6
106.8
(3.2)
(3.0 %)
(0.7 %)Rest of world51.9
42.4
9.5
22.4 %
15.8 %Total net sales$      687.5
$      629.6
$       57.9
9.2 %
8.0 %









(1) Calculated by applying 2025 exchange rates to 2026 reported net sales in regions outside the U.S.










Operating Segment Information
Three Months Ended March 31,
Growth/(Decline)
Constant Currencyvs. 2025(1)
2026
2025
Dollars
Percent
PercentNet sales:








Golf Equipment$      486.2
$      443.9
$       42.3
9.5 %
8.0 %Apparel, Gear and Other201.3
185.7
15.6
8.4 %
7.9 %Total net sales$      687.5
$      629.6
$       57.9
9.2 %
8.0 %









Segment operating income:








Golf Equipment$      117.6
$      101.8
$       15.8
15.5 %

Apparel, Gear and Other52.0
35.4
16.6
46.9 %

Total segment operating income169.6
137.2
32.4
23.6 %

Non-recurring items (2)(4.0)
(1.3)
(2.7)
n/m

Corporate costs and expenses (3)(27.4)
(32.8)
5.4
(16.5) %

Income (loss) from operations138.2
103.1
35.1
34.0 %

Interest income (expense), net(5.8)
(14.9)
9.1
(61.1) %

Other income (expense), net2.9
2.4
0.5
20.8 %

Total other income (expense), net(2.9)
(12.5)
9.6
(76.8) %

Income (loss) from equity method investments(27.7)
—
(27.7)
n/m

Income (loss) from continuing operations, before income taxes$      107.6
$        90.6
$       17.0
18.8 %











(1) Calculated by applying 2025 exchange rates to 2026 reported net sales in regions outside the U.S.(2) Includes certain non-recurring and non-cash items as described in the below schedules to this release.(3) Includes corporate general and administrative expenses not utilized by management in determining segment profitability. Corporate costs and expenses also includes adjustments
     for discontinued operations related to indirect costs that were previously allocated to the Topgolf and Jack Wolfskin businesses. CALLAWAY GOLF COMPANYSUPPLEMENTAL FINANCIAL INFORMATION AND NON-GAAP RECONCILIATION(In millions, except per share data)(Unaudited)

Three months ended March 31,
2026
2025
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance
Non-
Recurring
Items(1)
(Loss) From
Equity Method
Investments
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
 Non-
Recurring
Items(2)
Non-GAAPNet sales$  687.5
$          —
$         —
$          —
$                —
$ 687.5
$ 629.6
$           —
$          —
$     629.6Cost of sales360.8
—
—
1.1
—
359.7
346.0
—
0.3
345.7Gross profit$  326.7
$          —
$         —
$        (1.1)
$                —
$ 327.8
$ 283.6
$           —
$        (0.3)
$     283.9Gross Margin47.5 %








47.7 %
45.0 %




45.1 %



















(1)  Non-recurring items from continuing operations primarily includes $1.0 million of charges incurred to relocate to a new UK warehousing property as a result of the sale of the Jack Wolfskin business in 2025.(2)  Non-recurring items from continuing operations primarily includes restructuring and reorganization costs.




















Three months ended March 31,
2026
2025
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance (3)
Non-
Recurring
Items(1)
(Loss) From
Equity Method
Investments(4)
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
Non-
Recurring
Items(2)
Non-GAAPIncome (loss) from operations$  138.2
$        (0.2)
$         —
$        (3.8)
$                —
$ 142.2
$ 103.1
$        (0.1)
$        (1.2)
$     104.4Net income (loss) from continuing operations$    74.9
$        (0.2)
$        0.1
$        (4.4)
$            (32.4)
$ 111.8
$   63.4
$           —
$         6.3
$       57.1



















(1)  Non-recurring items from continuing operations primarily includes $7.5 million of other expense related to the continuing operations portion of the $15.0 million write off of debt issuance costs due to the $1.0 billion partial repayment of the term
     loan in January 2026 in connection with the sale of Topgolf, $1.0 million of costs related to the relocation to a new UK warehouse as a result of the sale of the Jack Wolfskin business in 2025, $1.0 million of restructuring charges related to the
     Transformation Plan and a $0.7 million write-off of software assets stemming from our separation from Topgolf. These costs were partially offset by a $4.3 million gain on our investment in Five Iron.(2)  Non-recurring items from continuing operations primarily include $0.7 million of restructuring charges related to the Transformation Plan. In addition, $9.5 million of term loan interest expense incurred at the corporate level and included in
     discontinued operations is reflected as part of continuing operations in order to show the full effect of consolidated interest expense.(3)  During the first quarter of fiscal year 2026, we released valuation allowances on certain U.S. deferred tax assets in both continuing and discontinued operations related to the disposal of the Topgolf and Jack Wolfskin businesses.(4)  Represents our 40% proportionate share of Topgolf's net loss, which is accounted for under the equity method.




















Three months ended March 31,
2026
2025
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance
Non-
Recurring
Items
(Loss) From
Equity Method
Investments
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
Non-
Recurring
Items
Non-GAAPDiluted earnings (loss) per share from
continuing operations (1)$   0.38
$          —
$         —
$       (0.02)
$             (0.16)
$   0.56
$   0.33
$           —
$        0.03
$      0.30Weighted-average shares outstanding - diluted202.7
202.7
202.7
202.7
202.7
202.7
198.2
198.2
198.2
198.2



















(1)  When aggregated, earnings per share amounts may not add across due to rounding.  CALLAWAY GOLF COMPANYSUPPLEMENTAL FINANCIAL INFORMATION AND NON-GAAP RECONCILIATION(In millions, except per share data)(Unaudited)

2026 Trailing Twelve Month Adjusted EBITDA
2025 Trailing Twelve Month Adjusted EBITDA
Quarter Ended
Quarter Ended
June 30,
September 30,
December 31,
March 31,


June 30,
September 30,
December 31,
March 31,


2025
2025
2025
2026
Total
2024
2024
2024
2025
TotalNet income (loss) from continuing operations$         45.5
$         (4.1)
$        (66.0)
$         74.9
$     50.3
$         99.4
$         31.0
$        (93.9)
$          63.4
$     99.9Interest expense (income), net15.3
14.8
15.6
5.8
51.5
15.9
15.1
14.7
14.9
60.6Income tax provision (benefit)13.1
2.7
5.8
32.7
54.3
(17.8)
(34.8)
62.2
27.2
36.8Non-cash depreciation and amortization
expense11.2
10.8
10.4
10.8
43.2
10.9
11.3
11.8
11.7
45.7Non-cash stock compensation and stock
warrant expense, net5.4
5.8
6.7
6.5
24.4
6.0
5.6
7.1
5.9
24.6Non-cash lease amortization expense0.6
0.3
0.1
(0.5)
0.5
0.6
0.4
0.4
0.6
2.0Acquisitions & non-recurring items, before
income taxes(1)0.9
0.3
2.3
5.8
9.3
1.7
1.2
2.1
1.2
6.2Loss from equity method investments—
—
—
27.7
27.7
—
—
—
—
—Adjusted EBITDA$         92.0
$         30.6
$        (25.1)
$        163.7
$    261.2
$        116.7
$         29.8
$          4.4
$         124.9
$    275.8



















(1) In 2026, amounts primarily relate to the write-off of a proportionate amount debt issuance costs due to the $1.0 billion partial repayment of term loan debt in January 2026 in connection with the sale of Topgolf, charges
     incurred to relocate to a new UK warehouse in connection with the sale of the Jack Wolfskin business, the write-off of IT assets stemming from the sale of Topgolf, and restructuring charges related to the Transformation
     Plan, partially offset by remeasurement gains on our cost method investment and gains on the disposal of intellectual property.  In 2025, amounts primarily include restructuring and reorganization charges related to the
     Transformation Plan. In 2024, amounts primarily include restructuring and reorganization charges related to the Transformation Plan, IT integration costs associated with the implementation of a new cloud based HRM
     system, IT costs related to a cybersecurity incident, and costs incurred to centralize warehousing and distribution operations to achieve synergies in connection with the Company's acquisitions.    View original content to download multimedia:https://www.prnewswire.com/news-releases/callaway-golf-company-announces-first-quarter-2026-results-302766136.htmlSOURCE Callaway Golf Company Original: CALLAWAY GOLF COMPANY ANNOUNCES FIRST QUARTER 2026 RESULTS

Callaway Golf Company to Release First Quarter 2026 Financial ResultsApril 30, 2026 4:15 PM
PR Newswire (US)

CARLSBAD, Calif., April 30, 2026 /PRNewswire/ -- Callaway Golf Company (the "Company", "we," "our," "us") (NYSE: CALY) announced today that it intends to release its first quarter 2026 financial results on Thursday, May 7, 2026, after the market closes. Following the release, the Company's management team will hold a conference call to review the results and discuss the Company's business and outlook beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). A live webcast and presentation may be accessed through the Investor Relations section of the Company's website.A replay will be available online approximately two hours after the conclusion of the event through the Company's Investor Relations website.In addition, Callaway Golf Company also announced participation in the following events:KeyBanc Capital Markets Virtual Consumer Leisure Spotlight on May 14, 2026B. Riley Securities Annual Investor Conference in Marina del Rey, CA on May 21, 2026Jefferies Consumer Conference in Nantucket, MA on June 16-17, 2026About Callaway Golf Company
Callaway Golf Company (NYSE: CALY), is a premium golf equipment, gear and apparel company with a portfolio of global brands, including Callaway Golf, Odyssey, TravisMathew, and OGIO. Through an unwavering commitment to innovation and premium craftsmanship, Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories—setting the standard for performance in the game of golf. For more information, please visit https://ir.callawaygolf.com.Investor Contact
Patrick Burke
invrelations@callawaygolf.com





View original content to download multimedia:https://www.prnewswire.com/news-releases/callaway-golf-company-to-release-first-quarter-2026-financial-results-302759412.htmlSOURCE Callaway Golf Company

Original: Callaway Golf Company to Release First Quarter 2026 Financial Results

CALLAWAY GOLF COMPANY ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 RESULTSFebruary 12, 2026 4:49 PM
PR Newswire (US)

HIGHLIGHTSCompany returns to its roots as a leading pure play golf equipment company after selling Jack Wolfskin and a 60% stake in the Topgolf businesses.Immediately following the close of the Topgolf transaction on January 1, 2026, the Company was in a net cash position with approximately $680 million cash and approximately $480 million in gross debt.Q4 and Full Year 2025 Net Revenue and Adjusted EBITDA both exceeded expectations.Initiated 2026 Revenue and Adjusted EBITDA Guidance of $1.98B to $2.05B and $170M to $195M, respectively.CARLSBAD, Calif., Feb. 12, 2026 /PRNewswire/ -- Callaway Golf Company (the "Company," "Callaway," "we," "our," "us") (NYSE: CALY) announced its financial results for the fourth quarter and full year ended December 31, 2025."We successfully completed our 2025 strategic initiatives, which were to return Callaway to a pure play golf equipment company and strengthen our balance sheet," commented Chip Brewer, President and Chief Executive Officer of Callaway Golf Company. "The sale of our Jack Wolfskin business and the sale of a 60% stake in our Topgolf business have simplified our portfolio, generated significant cash, eliminated our liability for any Topgolf venue financing and operating leases and allowed us to pay down $1 billion of term debt, leaving us in a net cash position and with future upside opportunity in Topgolf given our 40% remaining stake. With the support of our Board, we intend to use this cash to pay off our convertible debt and begin returning capital to our shareholders via the $200 million share repurchase program we announced in January. With these strategic initiatives behind us and the benefit of a strong balance sheet, we are now back to being a focused, pure-play golf company and a leader in innovation, performance, and craftsmanship across our premium golf equipment, apparel, and accessories businesses. This positioning, together with our renewed focus on driving margin expansion and free cash flow generation, will allow us to create long-term shareholder value."CONSOLIDATED RESULTSThe Company announced the following GAAP and non-GAAP financial results for the three and twelve months ended December 31, 2025 and 2024:GAAP RESULTS(in millions, except percentages and
per share data)Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
$ Change
% Change
2025
2024
$ Change
% ChangeNet sales$     367.5
$     371.4
$         (3.9)
(1.1) %
$  2,060.1
$   2,077.7
$      (17.6)
(0.8) %Income (loss) from operations(54.1)
(24.6)
(29.5)
119.9 %
128.1
152.9
(24.8)
(16.2) %Other expense, net(6.1)
(7.1)
1.0
(14.1) %
(40.5)
(41.4)
0.9
(2.2) %Income (loss) from continuing operations, before income taxes(60.2)
(31.7)
(28.5)
89.9 %
87.6
111.5
(23.9)
(21.4) %Income tax provision (benefit) 5.8
62.2
(56.4)
(90.7) %
48.8
18.1
30.7
169.6 %Net income (loss) from continuing operations$      (66.0)
$      (93.9)
$        27.9
(29.7) %
$       38.8
$       93.4
$      (54.6)
(58.5) %Net earnings (loss) per common share from continuing operations - diluted$      (0.36)
$      (0.51)
$        0.15
(29.4) %
$       0.21
$       0.50
$      (0.29)
(58.0) %Weighted-average common shares outstanding - diluted183.9
183.7
0.2
0.1 %
185.7
199.3
(13.6)
(6.8) %NON-GAAP RESULTSNon-GAAP results (1) exclude certain non-cash and non-recurring adjustments as defined and (2) include certain adjustments to interest expense that were otherwise presented in discontinued operations, both as further explained in the Additional Information and Disclosures section of this release. The Company has also provided a reconciliation of the non-GAAP information to the most directly comparable GAAP information in the tables to this release.(in millions, except percentages and
per share data)Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
$ Change
% Change
Constant Currencyvs. 2024(1)
2025
2024
$ Change
% Change
Constant Currencyvs. 2024(1)Net sales$ 367.5
$  371.4
$     (3.9)
(1.1) %
(1.1) %
$  2,060.1
$  2,077.7
$  (17.6)
(0.8) %
(0.9) %Non-GAAP operating income
(loss)$  (50.8)
$   (22.4)
$   (28.4)
126.8 %
126.4 %
$     134.1
$     161.3
$  (27.2)
(16.9) %
(16.8) %Non-GAAP net income (loss)
from continuing operations$  (46.5)
$ (100.0)
$    53.5
(53.5) %


$       38.4
$       70.3
$  (31.9)
(45.4) %

Non-GAAP earnings (loss) per
common share from continuing
operations - diluted$  (0.25)
$   (0.54)
$    0.29
(53.7) %


$       0.21
$       0.38
$  (0.17)
(44.7) %

Non-GAAP Adjusted EBITDA
from continuing operations$  (25.1)
$      4.4
$   (29.5)
n/m


$     222.4
$     261.2
$  (38.8)
(14.9) %


(1) See "Additional Information and Disclosures—Non-GAAP Information" for the calculation methodology of constant currency measures.FOURTH QUARTER 2025 CONSOLIDATED RESULTS COMMENTARY(All comparisons to prior periods are calculated on a year-over-year basis, unless otherwise noted)The Company's net sales from continuing operations of $367.5 million decreased 1% primarily due to lower sales of Golf Equipment due to fewer second half product launches this year relative to last year, partially offset by a $7 million increase in our soft goods segment. The better-than-expected consolidated results were driven by outperformance in both Golf Equipment and Apparel, Gear and Other ("Soft Goods") segments.Fourth quarter GAAP and non-GAAP gross margin declined approximately 220 basis points to 37.1% and 37.4%, respectively. The decline was due to a 340-basis point impact from incremental tariffs.Fourth quarter GAAP operating expense of $190.4 million increased $20 million year-over-year, while non-GAAP operating expense of $188.2 million increased $19 million year-over-year. Both increases were driven by a $19 million increase in annual incentive compensation expense as the Company is lapping a reversal of that accrual in Q4 2024.Net loss from continuing operations was $66.0 million on a GAAP basis and $46.5 million on a non-GAAP basis. Adjusted EBITDA from continuing operations was negative $25.1 million, representing a decrease of $29.5 million against the prior year period which was attributable to $12 million in incremental tariff expense and the $19 million increase in annual incentive compensation.FULL YEAR 2025 CONSOLIDATED RESULTS COMMENTARY(All comparisons to prior periods are calculated on a year-over-year basis, unless otherwise noted)The Company's net sales from continuing operations of $2,060.1 million decreased 0.8% due to a decrease in the Soft Goods segment, impacted by a soft macro backdrop in the US and Asia, while Golf Equipment sales were approximately flat. These consolidated results were better than expected in both segments.Full year GAAP and non-GAAP gross margin declined approximately 60 basis points to 42.1% and 42.2%, respectively. The declines were due to a 166-basis point negative impact from $34 million of additional tariff expense. The Company's Golf Equipment gross margin actually increased 10 basis points and would have increased 189 points without the incremental tariffs.Full year GAAP operating expense increased less than 1%, while non-GAAP operating expense increased just over 1%. The increased expense was due to normal inflationary pressures year over year and an increase in annual incentive compensation expense, both of which were mostly offset by the Company's cost-savings initiatives.Net income from continuing operations was $38.8 million on a GAAP basis and $38.4 million on a non-GAAP basis. Adjusted EBITDA from continuing operations was $222.4 million, which represented a decrease of $38.8 million. The decrease in Adjusted EBITDA was better than expected and is attributable to $34 million in incremental tariff expense as well as a $35 million increase in annual incentive compensation, partially offset by cost savings and some select price increases.SEGMENT RESULTSSEGMENT NET SALESThe table below provides net sales by segment for the periods presented:(in millions, except
percentages)Three Months Ended December 31,
Constant Currencyvs. 2024(1)
Twelve Months Ended December 31,
Constant Currencyvs. 2024(1)
2025
2024
% Change
% Change
2025
2024
% Change
% ChangeGolf Equipment$      213.9
$      224.9
(4.9) %
(5.1) %
$   1,375.1
$   1,382.7
(0.5) %
(0.7) %Apparel, Gear and Other153.6
146.5
4.8 %
5.1 %
685.0
695.0
(1.4) %
(1.2) %Net Sales$      367.5
$      371.4
(1.1) %
(1.1) %
$   2,060.1
$   2,077.7
(0.8) %
(0.9) %
(1) See "Additional Information and Disclosures—Non-GAAP Information" for the calculation methodology of constant currency measures.SEGMENT OPERATING INCOMEThe table below provides the breakout of segment operating income for the periods presented:(in millions, except percentages)Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
Change
2025
2024
ChangeGolf Equipment$      (31.2)
$        (2.8)
n/m
$      170.1
$      183.7
(7.4) %% of segment net sales(14.6) %
(1.2) %
   (1,340) bps
12.4 %
13.3 %
        (90) bpsApparel, Gear and Other9.4
9.0
4.4 %
87.8
99.5
(11.8) %% of segment net sales6.1 %
6.1 %
         — bps
12.8 %
14.3 %
      (150) bpsTotal Segment Operating Income (loss)$      (21.8)
$          6.2
n/m
$      257.9
$      283.2
(8.9) %% of total segment net sales(5.9) %
1.7 %
      (760) bps
12.5 %
13.6 %
      (110) bpsConstant Currency Total Segment Operating Income



n/m




(8.9) %The following is a reconciliation on a GAAP basis of total segment operating income to income before income taxes for the periods presented:
Three Months Ended December 31,
Twelve Months Ended December 31,(in millions)2025
2024
$ Change
2025
2024
$ ChangeTotal Segment operating income (loss):$         (21.8)
$             6.2
$         (28.0)
$         257.9
$         283.2
$         (25.3)Non-recurring expenses (1)(3.3)
(2.2)
(1.1)
(6.0)
(8.4)
2.4Corporate costs and expenses (2)(29.0)
(28.6)
(0.4)
(123.8)
(121.9)
(1.9)Income (loss) from continuing operations(54.1)
(24.6)
(29.5)
128.1
152.9
(24.8)Interest expense, net(15.6)
(14.7)
(0.9)
(60.6)
(63.0)
2.4Other income, net9.5
7.6
1.9
20.1
21.6
(1.5)Income (loss) from continuing operations,
before income taxes$         (60.2)
$         (31.7)
$         (28.5)
$           87.6
$         111.5
$         (23.9)











(1) Includes certain non-recurring and non-cash items as described in the schedules to this release.(2) Includes corporate general and administrative expenses not utilized by management in determining segment profitability.POST-TRANSACTION LIQUIDITY HIGHLIGHTS Immediately following the $1 billion partial repayment of its term loan, as of January 2, 2026, the Company was in a net cash position with approximately $480 million in outstanding debt (which includes approximately $258 million in convertible notes and $166 million in term debt), and had unrestricted cash and cash equivalents of approximately $680 million.The Company plans to pay off its $258 million of convertible notes upon maturity in May of 2026.The Company expects to maintain a net cash to zero net leverage position through the year.2026 OUTLOOK2026 FULL YEAR OUTLOOK(in millions, except where noted otherwise)



2026Current Estimate2025As ReportedConsolidated Net Sales$1.98B to $2.05B$2.06BAdjusted EBITDA from Continuing Operations(1)$170 to $195$222


(1) Non-GAAP measure. See "Additional Information and Disclosures—Non-GAAP Information" for more information and the
schedules to this press release for reconciliations to the most directly comparable GAAP measure.

2026 FIRST QUARTER OUTLOOK(in millions)



Q1 2026Estimate(1)
Q1 2025As ReportedConsolidated Net Sales$635 to $665
$630Adjusted EBITDA from Continuing Operations(1)$110 to $125
$125



(1) Non-GAAP measure. See "Additional Information and Disclosures—Non-GAAP Information" for more information and the
schedules to this press release for reconciliations to the most directly comparable GAAP measure.ADDITIONAL INFORMATION AND DISCLOSURES Conference Call and WebcastThe Company will be holding a conference call at 2:00 p.m. Pacific time today, February 12, 2026, to discuss the Company's financial results, outlook and business. The call will be webcast live on our investor relations website at https://ir.callawaygolf.com/news-and-events/presentations. Our earnings presentation will be available ahead of our call and will include additional details. A replay of the conference call will be available approximately two hours after the call ends. The replay may be accessed through the Investor Relations section of the Company's website at https://ir.callawaygolf.com. Non-GAAP InformationThe GAAP results contained in this press release and the financial statement schedules attached to this press release have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). To supplement the GAAP results, the Company has provided certain non-GAAP financial information as follows:Constant Currency Basis. The Company provided certain information regarding the Company's financial results or projected financial results on a "constant currency basis" or as "constant currency" results. This information estimates the impact of changes in foreign currency exchange rates on the translation of the Company's current or projected future period financial results as compared to the applicable comparable period. This impact is derived by taking the current or projected local currency results and translating them into U.S. dollars based upon the foreign currency exchange rates for the applicable comparable period. It does not include any other effect of changes in foreign currency rates on the Company's results or business.Non-Recurring, Non-cash and Interest Expense Adjustments. The Company provided information excluding certain non-cash amortization of acquired intangible assets, including customer and distributor relationships and acquired developed technology related to the Company's acquisitions of TravisMathew and OGIO (together, the "Acquisitions"). While the amortization of acquired intangible assets is excluded from the calculation of non-GAAP net income, the revenue and operating costs associated with these acquired companies is reflected in non-GAAP net income calculations, as well as the acquired assets that contribute to revenue generation. For specific non-recurring adjustment items, please see the Supplemental Financial Information and Non-GAAP Reconciliation section of this release. Non-recurring adjustments include, among other things subtraction of costs related to a plan intended to optimize organizational efficiencies and decrease operating costs under the separate business structures that are anticipated after the separation of Topgolf (the "Transformation Plan"). Costs incurred related to Non-Recurring and Non-Cash Adjustments are excluded from the measurement of segment profitability for internal and external reporting purposes. In addition, we have added back to certain of our non-GAAP results interest expenses relating to debt incurred at the corporate level that are categorized under discontinued operations in order to burden continuing operations with the full impact of the Company's total term debt.Adjusted EBITDA. The Company provides information about its results excluding interest, taxes, depreciation and amortization expenses, stock compensation expense, non-cash lease amortization expense, and the non-recurring and non-cash items referenced above.In addition, the Company has included in the schedules attached to this release a reconciliation of certain non-GAAP information to the most directly comparable GAAP information. The non-GAAP information presented in this release and related schedules should not be considered in isolation or as a substitute for any measure derived in accordance with GAAP. The non-GAAP information may also be inconsistent with the manner in which similar measures are derived or used by other companies. Management uses such non-GAAP information for financial and operational decision-making purposes and as a means to evaluate period-over-period comparisons and in forecasting the Company's business going forward. Management believes that the presentation of such non-GAAP information, when considered in conjunction with the most directly comparable GAAP information, provides additional useful comparative information for investors in their assessment of the underlying performance, and, in some cases, financial condition, of the Company's business with regard to these items.For forward-looking Adjusted EBITDA from Continuing Operations, a reconciliation to net income (loss) from continuing operations, the most closely comparable GAAP financial measure, is not provided because the Company is unable to provide such reconciliation without unreasonable efforts. The inability to provide a reconciliation is because the Company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact net income in the future but would not impact Adjusted EBITDA from Continuing Operations. These items may include certain non-cash depreciation, which will fluctuate based on the Company's level of capital expenditures, non-cash amortization of intangibles related to the Company's acquisitions, income taxes, which can fluctuate based on changes in the other items noted and/or future forecasts, interest expense, which varies based upon the amount of borrowing to fund the business, and other non-recurring costs and non-cash adjustments. Historically, the Company has excluded these items from Adjusted EBITDA from Continuing Operations. The Company currently expects to continue to exclude these items in future disclosures of Adjusted EBITDA from Continuing Operations and may also exclude other items that may arise. The events that typically lead to the recognition of such adjustments are inherently unpredictable as to if or when they may occur, and therefore actual results may differ materially. This unavailable information could have a significant impact on net income.Forward-Looking StatementsStatements used in this press release that relate to future plans, events, financial results, performance, prospects, or growth opportunities, including statements relating to the Company's (and its segments') first quarter and full year 2026 guidance (including net sales, Adjusted EBITDA from Continuing Operations and cash balances), strength and demand of the Company's products and services, continued brand momentum, positioning of the Company's brands to gain market share, demand for golf and outdoor activities and apparel, continued investments in the business, consumer trends and behavior, future industry and market conditions, completion of any share repurchases, including the timing and amount thereof, repayment of the convertible notes, return of capital to shareholders and positioning to create shareholder value, future liquidity, foreign currency effects and their impacts, tariff and tax rates and the effectiveness of mitigation efforts relating thereto, and statements of belief and any statement of assumptions underlying any of the foregoing, are forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "estimate," "could," "would," "should," "intend," "may," "plan," "seek," "anticipate," "project" and similar expressions, among others, generally identify forward-looking statements, which speak only as of the date the statements were made and are not guarantees of future performance. These statements are based upon current information and expectations. Accurately estimating the forward-looking statements is based upon various risks and unknowns, including uncertainty regarding global economic conditions, including relating to inflation, decreases in consumer demand and spending, and any severe or prolonged economic downturn or economic recession; the Company's level of indebtedness; continued availability of credit facilities and liquidity and ability to comply with applicable debt covenants; effectiveness of capital allocation and cost/expense reduction efforts; continued brand momentum and product success; growth in the direct-to-consumer and e-commerce channels; ability to realize the benefits of the continued investments in the Company's business; consumer acceptance of and demand for the Company's and its subsidiaries' products; any changes in U.S. or foreign trade, tax or other policies, including restrictions on imports or an increase in import tariffs; future retailer purchasing activity, which can be significantly negatively affected by adverse industry and economic conditions and overall retail inventory levels; the level of promotional activity in the marketplace; and future changes in foreign currency exchange rates and the degree of effectiveness of the Company's hedging programs. Actual results may differ materially from those estimated or anticipated as a result of these risks and unknowns or other risks and uncertainties, including the effect of terrorist activity, armed conflict, natural disasters or pandemic diseases on the economy generally, on the level of demand for the Company's and its subsidiaries' products or on the Company's ability to manage its operations, supply chain and delivery logistics in such an environment; delays, difficulties or increased costs in the supply of components or commodities needed to manufacture the Company's products or in manufacturing the Company's products; and a decrease in participation levels in golf generally. For additional information concerning these and other risks and uncertainties that could affect these statements and the Company's business, see the Company's Annual Report on Form 10-K for the year ended December 31, 2025 as well as other risks and uncertainties detailed from time to time in the Company's reports on Forms 10-K, 10-Q and 8-K subsequently filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.About Callaway Golf CompanyCallaway Golf Company (NYSE: CALY), is a premium golf equipment, gear and apparel company with a portfolio of global brands, including Callaway Golf, Odyssey, TravisMathew, and OGIO. Through an unwavering commitment to innovation and premium craftsmanship, Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories—setting the standard for performance in the game of golf. For more information, please visit https://ir.callawaygolf.com. Investor Contact
Katina Metzidakis
invrelations@callawaygolf.comCALLAWAY GOLF COMPANYSELECT BALANCE SHEET INFORMATION FOR CONTINUING OPERATIONS(In millions)(Unaudited)

December 31,
2025
December 31,
2024ASSETS


Cash and cash equivalents$              903.2
$              445.0Accounts receivable, net123.2
137.2Inventories625.3
628.2Property, plant and equipment, net159.5
175.9Operating lease right-of-use assets, net173.5
151.9Goodwill and intangible assets, net842.2
841.2LIABILITIES 


Accounts payable and accrued expenses$              296.2
$              267.2Accrued employee compensation and benefits84.9
48.3Long-term debt, current portion765.3
14.6Asset-based credit facilities44.7
25.4Operating lease liabilities, short-term22.9
18.1Deferred revenue21.5
15.9Long-term debt, net650.7
1,414.3Operating lease liabilities, long-term189.7
164.5 CALLAWAY GOLF COMPANYCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(In millions, except per share data)(Unaudited)

Three Months Ended December 31,
Twelve Months Ended December 31,
2025
2024
2025
2024Net sales$                 367.5
$                 371.4
$              2,060.1
$              2,077.7Cost of sales231.2
225.3
1,192.5
1,190.7Gross profit136.3
146.1
867.6
887.0Operating expenses:






Selling, general and administrative expense172.1
155.5
674.0
670.0Research and development expense18.3
15.2
65.5
64.1Total operating expenses190.4
170.7
739.5
734.1Income (loss) from continuing operations(54.1)
(24.6)
128.1
152.9Interest expense, net(15.6)
(14.7)
(60.6)
(63.0)Other income, net9.5
7.6
20.1
21.6Other expense, net(6.1)
(7.1)
(40.5)
(41.4)Income (loss) from continuing operations, before income taxes(60.2)
(31.7)
87.6
111.5Income tax provision (benefit)5.8
62.2
48.8
18.1Net income (loss) from continuing operations$                 (66.0)
$                  (93.9)
$                  38.8
$                  93.4







Earnings (loss) per common share from continuing operations - basic:$                 (0.36)
$                 (0.51)
$                  0.21
$                  0.51







Earnings (loss) per common share from continuing operations - diluted:$                 (0.36)
$                 (0.51)
$                  0.21
$                  0.50







Weighted-average common shares outstanding:






Basic183.9
183.7
183.7
183.7Diluted183.9
183.7
185.7
199.3 CALLAWAY GOLF COMPANYCONSOLIDATED NET SALES AND OPERATING SEGMENT INFORMATION(In millions)(Unaudited)

Net Sales by Category
Three Months Ended December 31,
Growth/(Decline)
 Constant
Currency vs. 2024(1)
2025
2024
Dollars
Percent
PercentNet sales:








Golf Clubs$          166.1
$          178.8
$         (12.7)
(7.1 %)
(7.3 %)Golf Balls47.8
46.1
1.7
3.7 %
3.5 %Apparel99.7
94.5
5.2
5.5 %
6.1 %Gear, Accessories & Other53.9
52.0
1.9
3.7 %
3.1 %Total net sales$          367.5
$          371.4
$           (3.9)
(1.1 %)
(1.1 %)









(1) Calculated by applying 2024 exchange rates to 2025 reported net sales in regions outside the U.S. 
Net Sales by Region
Three Months Ended December 31,
Growth/(Decline)
Constant Currencyvs. 2024(1)
2025
2024
Dollars
Percent
PercentNet sales:








United States$          244.2
$          241.1
$            3.1
1.3 %
1.3 %Europe29.8
27.2
2.6
9.6 %
3.7 %Asia74.0
79.6
(5.6)
(7.0 %)
(5.4 %)Rest of world19.5
23.5
(4.0)
(17.0 %)
(16.6 %)Total net sales$          367.5
$          371.4
$           (3.9)
(1.1 %)
(1.1 %)









(1) Calculated by applying 2024 exchange rates to 2025 reported net sales in regions outside the U.S. 
Operating Segment Information
Three Months Ended December 31,
Growth/(Decline)
Constant Currencyvs. 2024(1)
2025
2024
Dollars
Percent
PercentNet sales:








Golf Equipment$          213.9
$          224.9
$         (11.0)
(4.9 %)
(5.1 %)Apparel, Gear and Other153.6
146.5
7.1
4.8 %
5.1 %Total net sales$          367.5
$          371.4
$           (3.9)
(1.1 %)
(1.1 %)









Segment operating income (loss):








Golf Equipment$          (31.2)
$            (2.8)
$         (28.4)
n/m

Apparel, Gear and Other9.4
9.0
0.4
4.4 %

Total segment operating income (loss)(21.8)
6.2
(28.0)
n/m

Non-recurring items (2)(3.3)
(2.2)
(1.1)
50.0 %

Corporate costs and expenses (3)(29.0)
(28.6)
(0.4)
1.4 %

Total operating income (loss)(54.1)
(24.6)
(29.5)
119.9 %

Interest expense, net(15.6)
(14.7)
(0.9)
6.1 %

Other income, net9.5
7.6
1.9
25.0 %

Total income (loss) from continuing operations, before income taxes$          (60.2)
$          (31.7)
$         (28.5)
89.9 %











(1) Calculated by applying 2024 exchange rates to 2025 reported net sales in regions outside the U.S.(2) Includes certain non-recurring and non-cash items as described in the below schedules to this release.(3) Includes corporate general and administrative expenses not utilized by management in determining segment profitability. Corporate costs and expenses
also includes adjustments for discontinued operations related to indirect costs that were previously allocated to the Topgolf and Jack Wolfskin businesses. CALLAWAY GOLF COMPANYCONSOLIDATED NET SALES AND OPERATING SEGMENT INFORMATION(In millions)(Unaudited)

Net Sales by Category
Twelve Months Ended December 31,
Growth/(Decline)
Constant Currencyvs. 2024(1)
2025
2024
Dollars
Percent
PercentNet sales:








Golf Clubs$       1,052.9
$       1,060.9
$           (8.0)
(0.8 %)
(0.9 %)Golf Balls322.2
321.8
0.4
0.1 %
0.1 %Apparel398.8
405.6
(6.8)
(1.7 %)
(1.3 %)Gear, Accessories & Other286.2
289.4
(3.2)
(1.1 %)
(1.0 %)Total net sales$       2,060.1
$       2,077.7
$         (17.6)
(0.8 %)
(0.9 %)
(1) Calculated by applying 2024 exchange rates to 2025 reported net sales in regions outside the U.S. 
Net Sales by Region
Twelve Months Ended December 31,
Growth/(Decline)
Constant Currencyvs. 2024(1)
2025
2024
Dollars
Percent
PercentNet sales:








United States$       1,363.3
$       1,381.1
$         (17.8)
(1.3 %)
(1.3 %)Europe203.8
182.1
21.7
11.9 %
8.7 %Asia363.1
379.1
(16.0)
(4.2 %)
(3.7 %)Rest of world129.9
135.4
(5.5)
(4.1 %)
(1.7 %)Total net sales$       2,060.1
$       2,077.7
$         (17.6)
(0.8 %)
(0.9 %)
(1) Calculated by applying 2024 exchange rates to 2025 reported net sales in regions outside the U.S. 
Operating Segment Information
Twelve Months Ended December 31,
Growth/(Decline)
Constant Currencyvs. 2024(1)
2025
2024
Dollars
Percent
PercentNet sales:








Golf Equipment$       1,375.1
$       1,382.7
$           (7.6)
(0.5 %)
(0.7 %)Apparel, Gear and Other685.0
695.0
(10.0)
(1.4 %)
(1.2 %)Total net sales$       2,060.1
$       2,077.7
$         (17.6)
(0.8 %)
(0.9 %)









Segment operating income:








Golf Equipment$          170.1
$          183.7
$         (13.6)
(7.4) %

Apparel, Gear and Other87.8
99.5
(11.7)
(11.8) %

Total segment operating income257.9
283.2
(25.3)
(8.9) %

Non-recurring items (2)(6.0)
(8.4)
2.4
(28.6) %

Corporate costs and expenses (3)(123.8)
(121.9)
(1.9)
1.6 %

Total operating income128.1
152.9
(24.8)
(16.2) %

Interest expense, net(60.6)
(63.0)
2.4
(3.8) %

Other (expense) income, net20.1
21.6
(1.5)
(6.9) %

Total income (loss) from continuing operations, before income taxes$           87.6
$          111.5
$         (23.9)
(21.4) %


(1) Calculated by applying 2024 exchange rates to 2025 reported net sales in regions outside the U.S.(2) Includes certain non-recurring and non-cash items as described in the below schedules to this release.(3) Includes corporate general and administrative expenses not utilized by management in determining segment profitability. Corporate costs and expenses also includes adjustments for discontinued operations related to indirect costs that were previously allocated to the Topgolf and Jack Wolfskin businesses. 
CALLAWAY GOLF COMPANYSUPPLEMENTAL FINANCIAL INFORMATION AND NON-GAAP RECONCILIATION(In millions, except per share data)(Unaudited) 
Three Months Ended December 31,
2025
2024
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance
Non-
Recurring
Items(1)
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
Non-Recurring
Items(2)
Non-GAAPNet sales$   367.5
$                 —
$                 —
$                 —
$         367.5
$   371.4
$                 —
$             —
$         371.4Cost of sales231.2
—
—
1.1
230.1
225.3
—
1.0
224.3Gross profit$   136.3
$                 —
$                 —
$                (1.1)
$         137.4
$   146.1
$                 —
$            (1.0)
$         147.1Gross Margin37.1 %






37.4 %
39.3 %




39.6 %

















(1)  Non-recurring items from continuing operations includes $1.1 million of restructuring charges related to the Transformation Plan.  (2)  Non-recurring items from continuing operations includes $1.0 million of costs incurred to centralize warehousing and distribution operations to achieve synergies in connection with the Company's acquisitions.


















Three Months Ended December 31,
2025
2024
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance (3)
Interest
Expense &
Non-Recurring
Items(1)
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
Interest
Expense &
Non-Recurring
Items(2)
Non-GAAPIncome (loss) from continuing operations$      (54.1)
$              (0.2)
$                 —
$                (3.1)
$           (50.8)
$     (24.6)
$              (0.1)
$            (2.1)
$          (22.4)Net income (loss) from continuing operations$      (66.0)
$              (0.2)
$              (24.0)
$                4.7
$           (46.5)
$     (93.9)
$              (0.1)
$            6.2
$        (100.0)

















(1)  Non-recurring items from continuing operations primarily include $3.7 million of restructuring charges related to the Transformation Plan. In addition, $9.3 million of term loan interest expense incurred at the corporate level and included as part of discontinued operations is reflected as part of continuing operations in order to show the full effect of consolidated interest expense.  (2) Non-recurring items from continuing operations primarily include $2.1 million of restructuring and reorganization charges related to the Transformation Plan. In addition, $10.2 million of term loan interest expense incurred at the corporate level and included in discontinued operations is reflected as part of continuing operations in order to show the full effect of consolidated interest expense.  (3)  During the fourth quarter of fiscal year 2025, we established valuation allowances on certain U.S. deferred tax assets in both continuing and discontinued operations. 


















Three Months Ended December 31,
2025
2024
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance
Interest
Expense &
Non-Recurring
Items
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
Interest
Expense &
Non-Recurring
Items
Non-GAAPDiluted earnings (loss) per share from continuing operations (1)$      (0.36)
$                 —
$              (0.13)
$              0.03
$           (0.25)
$     (0.51)
$                 —
$          0.03
$          (0.54)Weighted-average shares outstanding - diluted183.9
183.9
183.9
183.9
183.9
183.7
183.7
183.7
183.7(1)  When aggregated, earnings per share amounts may not add across due to rounding.    
CALLAWAY GOLF COMPANYSUPPLEMENTAL FINANCIAL INFORMATION AND NON-GAAP RECONCILIATION(In millions, except per share data)(Unaudited) 
Twelve months ended December 31,
2025
2024
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance
Non-Recurring
Items(1)
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
 Non-Recurring
Items(2)
Non-GAAPNet sales$ 2,060.1
$                  —
$               —
$                 —
$  2,060.1
$  2,077.7
$                    —
$                 —
$      2,077.7Cost of sales1,192.5
—
—
1.5
1,191.0
1,190.7
—
1.4
1,189.3Gross profit$    867.6
$                  —
$               —
$                 (1.5)
$   869.1
$   887.0
$                    —
$                 (1.4)
$         888.4Gross Margin42.1 %






42.2 %
42.7 %




42.8 %

















(1)  Non-recurring items from continuing operations primarily includes $1.1 million of restructuring charges related to the Transformation Plan.(2)  Non-recurring items from continuing operations primarily includes $1.3 million of costs incurred to centralize warehousing and distribution operations to achieve synergies in connection with the Company's acquisitions.


















Twelve months ended December 31,
2025
2024
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance (3)
Interest
Expense &
Non-Recurring
Items(1)
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
 Interest
Expense &
Non-Recurring
Items(2)
Non-GAAPIncome (loss) from continuing operations$    128.1
$               (0.6)
$               —
$                 (5.4)
$   134.1
$   152.9
$                   (0.6)
$                 (7.8)
$         161.3Net income (loss) from continuing operations$      38.8
$               (0.5)
$            (24.0)
$              24.9
$     38.4
$     93.4
$                   (0.5)
$              23.6
$           70.3

















(1)  Non-recurring items from continuing operations primarily include $5.5 million of restructuring charges related to the Transformation Plan. In addition, $38.2 million of term loan interest expense incurred at the corporate level and included in discontinued operations is reflected as part of continuing operations in order to show the full effect of consolidated interest expense. (2)  Non-recurring items from continuing operations primarily include $4.7 million in charges related to our 2024 debt repricing, $1.2 million of restructuring and reorganization charges related to the Transformation Plan, $2.1 million in IT integration charges including costs associated with the implementation of a new cloud based HRM system, $1.4 million in IT costs related to a cybersecurity incident, and $1.3 million of costs incurred to centralize warehousing and distribution in connection with the sales of Jack Wolfskin and Topgolf which occurred in 2025. In addition, $43.5 million of term loan interest expense incurred at the corporate level and included in discontinued operations is reflected as part of continuing operations in order to show the full effect of consolidated interest expense. (3)  During the fourth quarter of fiscal year 2025, we established valuation allowances on certain U.S. deferred tax assets in both continuing and discontinued operations. 


















Twelve months ended December 31,
2025
2024
GAAP
Non-Cash
Acquisition-
related
Amortization
Tax
Valuation
Allowance
Interest
Expense &
Non-Recurring
Items
Non-GAAP
GAAP
Non-Cash
Acquisition-
related
Amortization
 Interest
Expense &
Non-Recurring
Items
Non-GAAPDiluted earnings (loss) per share from continuing operations (1)$      0.21
$                 —
$            (0.13)
$              0.13
$     0.21
$     0.50
$                    —
$              0.13
$           0.38Weighted-average shares outstanding - diluted185.7
185.7
185.7
185.7
185.7
199.3
184.6
184.6
184.6

















(1)  When aggregated, earnings per share amounts may not add across due to rounding.  
2025 Trailing Twelve Month Adjusted EBITDA
2024 Trailing Twelve Month Adjusted EBITDA
Quarter Ended
Quarter Ended
March 31,
June 30,
September 30,
December 31,


March 31,
June 30,
September 30,
December 31,


2025
2025
2025
2025
Total
2024
2024
2024
2024
TotalNet income (loss) from continuing operations$             63.4
$             45.5
$              (4.1)
$             (66.0)
$        38.8
$             56.9
$             99.4
$              31.0
$              (93.9)
$        93.4Interest expense, net14.9
15.3
14.8
15.6
60.6
17.3
15.9
15.1
14.7
63.0Income tax provision (benefit)27.2
13.1
2.7
5.8
48.8
8.5
(17.8)
(34.8)
62.2
18.1Non-cash depreciation and amortization expense11.7
11.2
10.8
10.4
44.1
10.6
10.9
11.3
11.8
44.6Non-cash stock compensation and stock warrant expense, net5.9
5.4
5.8
6.7
23.8
8.9
6.0
5.6
7.1
27.6Non-cash lease amortization expense0.6
0.6
0.3
0.1
1.6
0.6
0.6
0.4
0.4
2.0Acquisitions & non-recurring items, before income taxes(1)1.2
0.9
0.3
2.3
4.7
7.5
1.7
1.2
2.1
12.5Adjusted EBITDA from continuing operations$            124.9
$             92.0
$             30.6
$             (25.1)
$      222.4
$            110.3
$            116.7
$              29.8
$                  4.4
$      261.2




















(1) In 2025, amounts primarily include restructuring and reorganization charges related to the Transformation Plan. In 2024, amounts include charges related to the 2024 debt repricing, restructuring and reorganization charges related to the Transformation Plan, IT integration costs associated with the implementation of a new cloud based HRM system, IT costs related to a cybersecurity incident, and costs incurred to centralize warehousing and distribution operations to achieve synergies in connection with the Company's acquisitions.  





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Original: CALLAWAY GOLF COMPANY ANNOUNCES FOURTH QUARTER AND FULL YEAR 2025 RESULTS

Callaway Golf Company to Release Fourth Quarter and Full Year 2025 Financial ResultsFebruary 5, 2026 4:15 PM
PR Newswire (US)

CARLSBAD, Calif., Feb. 5, 2026 /PRNewswire/ -- Callaway Golf Company (the "Company", "we," "our," "us") (NYSE: CALY) announced today that it intends to release its fourth quarter and full year 2025 financial results on Thursday, February 12, 2025, after the market closes. Following the release, the Company's management team will hold a conference call to review the results and discuss the Company's business and outlook beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). A live webcast and presentation may be accessed through the Investor Relations section of the Company's website.A replay will be available online approximately two hours after the conclusion of the event through the Company's Investor Relations website.In addition, Callaway Golf Company also announced investor relations will participate in the following conferences:BofA Securities Consumer and Retail Conference in Miami, FL on March 10, 2026UBS Global Consumer and Retail Conference in New York, NY on March 11, 2026About Callaway Golf Company
Callaway Golf Company (NYSE: CALY), is a premium golf equipment, gear and apparel company with a portfolio of global brands, including Callaway Golf, Odyssey, TravisMathew, and OGIO. Through an unwavering commitment to innovation and premium craftsmanship, Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories—setting the standard for performance in the game of golf. For more information, please visit https://ir.callawaygolf.com.Investor Contact
Katina Metzidakis
invrelations@callawaygolf.com 





View original content to download multimedia:https://www.prnewswire.com/news-releases/callaway-golf-company-to-release-fourth-quarter-and-full-year-2025-financial-results-302680615.htmlSOURCE Callaway Golf Company

Original: Callaway Golf Company to Release Fourth Quarter and Full Year 2025 Financial Results

$CALY: Callaway GOLF now trading....................


Now $15

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GO $CALY