MODG
Topgolf Callaway Brands Corp.11.41
-0.12-1.04%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
2.10BP/E (TTM)
-Basic EPS (TTM)
-8.19Dividend Yield
0%Recent Filings
10-K
FY2025 results
Callaway Golf Company (CALY) reported FY2025 results from continuing operations (post divestitures of Jack Wolfskin in May 2025 and 60% Topgolf stake effective Jan 1, 2026), with net sales down 0.8% y/y to $2.06B on soft demand in apparel/gear and flat golf equipment amid tariffs; Q4 sales fell 4.2% y/y in Asia but rose 11.9% y/y in Europe. Gross margin contracted 60 bps to 42.1% from tariff impacts, while segment operating income dropped 8.9% y/y to $258M. Cash rose to $903M on $220M OCF and $286M Jack Wolfskin proceeds, enabling $1B term loan repayment post-Topgolf close, yielding a net cash position. No annual guidance issued. Unfavorable economic conditions could curb discretionary spending and quarterly momentum.
8-K
Recast financials post-divestitures
Callaway Golf recast 2025 financials under new Golf Equipment and Apparel, Gear and Other segments, excluding divested Jack Wolfskin (sold May 31, 2025) and Topgolf (60% sold January 1, 2026, retaining 40%). Full-year continuing ops net sales dipped 0.8% to $2,060.1M versus 2024; Golf Equipment operating income fell 7.4%. Net debt leverage improved to 2.6x from 4.0x. Post-sale leverage turns negative.
8-K
Q4 results beat; 2026 guidance issued
Callaway Golf reported Q4 and full-year 2025 results from continuing operations, with net sales down 1.1% to $367.5M and 0.8% to $2.06B, respectively, hit by $34M in tariffs yet beating expectations. Post-Topgolf stake sale closing January 1, 2026, it holds $680M cash against $480M debt. Pure-play golf focus sharpens. Guides 2026 revenue $1.98B-$2.05B, Adjusted EBITDA $170M-$195M.
8-K
Name change to Callaway Golf
Callaway Golf Company reverted its name from Topgolf Callaway Brands Corp. via charter amendment filed January 15, 2026, with board approval under Delaware law—no stockholder vote needed. Bylaws and restated charter updated solely for the name change. Shares shift from MODG to CALY on NYSE around January 16. Purely cosmetic.
8-K
Completes Topgolf stake sale
Topgolf Callaway Brands completed the sale of its 60% stake in Topgolf and Toptracer to Leonard Green & Partners effective January 1, 2026, for ~$800M net proceeds from a $660M purchase price plus financing, net of fees. The deal slashed debt by $1B while retaining a 40% stake under a shared board and operating pact. Cash now fuels convertible note payoffs and a fresh $200M buyback.
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