Topgolf Callaway Q1 revenue beats, raises FY Adj EBITDA midpoint; cuts EPS guidance

Callaway Golf Co

2023-Q1 EPS reported $0.13 revenue$1,167,400,000

Q1 GAAP net income $25M ($0.13 diluted EPS); non-GAAP EPS $0.17, down 53% YoY.
Net revenue $1.17B (+12.2% YoY); Topgolf same venue sales +11% (6th consecutive quarter).
Full-year 2023 revenue guidance raised to $4,420-4,470M; Adj EBITDA midpoint increased to $632.5M.
Non-GAAP diluted EPS guidance lowered to $0.63-0.69 from $0.70-0.78 mainly due to higher interest expense.
Completed debt refinancing, reducing cost and extending maturities; Topgolf venue profitability targets raised.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Callaway Golf Co reported the first quarter ended March 31, 2023 results: revenue $ 1,167.4, net income $ 25.0, EPS $ 0.13.

Period: the first quarter ended March 31, 2023
Revenue: $ 1,167.4
Net income: $ 25.0
EPS: $ 0.13
Result: reported results

Exact text from the filing

months ended March 31, 2023 and 2022: GAAP RESULTS (in millions, except percentages and per share data) Three Months Ended March 31, 2023 2022 Change % Change Net revenues $ 1,167.4 $ 1,040.2 $ 127.2 12.2 % Income from operations 80.5 94.3 (13.8) (14.6) % Other expense, net (59.7) (23.3) (36.4) 156.2 % Income before income taxes 20.8 71.0 (50.2) (70.7) %

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Source: SEC EDGAR

accession 0000837465-23-000017

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