Loading...
•
Mar 31, 2025
Topgolf Callaway Q1 2025 Earnings Report
Reported first quarter 2025 results
Key Takeaways
Topgolf Callaway Brands reported first quarter 2025 results with consolidated net revenue of $1,092.3 million, a decrease of 4.5% year-over-year. GAAP net income was $2.1 million, down significantly from the prior year, while non-GAAP net income increased to $20.3 million. Adjusted EBITDA saw a modest increase of 4.0%. The company reaffirmed its full-year guidance, subject to the pending sale of the Jack Wolfskin business.
Q1 consolidated Net Revenue of $1,092.3 million, down 4.5% year-over-year, but outperformed expectations.
GAAP income from operations was relatively flat at $66.5 million, while non-GAAP income from operations increased 20.9% to $87.8 million.
Adjusted EBITDA increased 4.0% year-over-year to $167.3 million, driven by improved profitability in Golf Equipment and Active Lifestyle segments.
Available liquidity strengthened to $805.0 million, an increase of 12% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is maintaining its consolidated full-year revenue and Adjusted EBITDA guidance, subject to the pending sale of the Jack Wolfskin business. However, the estimated same venue sales guidance for Topgolf has been decreased due to a softer consumer environment.
Positive Outlook
- Strong start to the year across all segments.
- Improving foreign currency exchange rates.
- Actions taken to reduce costs and mitigate tariff impact.
- Maintaining full year consolidated revenue and Adjusted EBITDA guidance.
- Planned sale of Jack Wolfskin business expected to enhance focus and balance sheet.
Challenges Ahead
- Softer consumer environment impacting Topgolf same venue sales.
- Decreased estimated same venue sales guidance for Topgolf.
- Expected more competitive launch environment in Golf Equipment in Q2.
- Continued impact from rightsizing of Jack Wolfskin business in Q2.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...