---
schema_version: "secwatch.filing_event.v1"
accession: "0000837465-23-000017"
form_type: "8-K"
ticker: "CALY"
cik: "0000837465"
company_name: "Callaway Golf Co"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T11:12:02.580937+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000837465-23-000017
- form_type: 8-K
- ticker: CALY
- cik: 0000837465
- company_name: Callaway Golf Co
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/837465/000083746523000017/0000837465-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/837465/000083746523000017/modg-20230509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000837465-23-000017
- JSON: https://secwatch.observer/filing/0000837465-23-000017.json
- Plain text: https://secwatch.observer/filing/0000837465-23-000017.txt

## Key facts
- Earnings Releases
  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
  source text: 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) %
  evidence_url: https://www.sec.gov/Archives/edgar/data/837465/000083746523000017/0000837465-23-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.