Topgolf Callaway cuts FY 2023 guidance on lower Topgolf same venue sales; Q3 GAAP EPS down 20%

Callaway Golf Co

2023-Q3 EPS reported $0.88 revenue$3,387,700,000

Q3 GAAP EPS $0.16 vs $0.20 prior year; net income $29.7M down 22.9%.
Revenue $1,040.6M up 5.3% YoY; Topgolf revenue up 8.2% to $447.7M.
Topgolf same venue sales declined 3%; FY2023 guidance reduced: rev $4,235-4,260M (from $4,420-4,470M), Adj EBITDA $575-585M (from $625-640M), non-GAAP EPS $0.39-0.43 (from $0.63-0.69).
Segment operating income: Topgolf +64.8% to $38.9M, Golf Equip -29%, Active Lifestyle +42.3%.
Interest expense rose $17.2M to $52.3M due to higher rates and additional debt.

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 0.9

Callaway Golf Co reported the third quarter ended September 30, 2023 results: revenue $1,040.6, net income $29.7, EPS $0.16. Guidance lowered.

Period: the third quarter ended September 30, 2023
Revenue: $1,040.6
Net income: $29.7
EPS: $0.16
Guidance: lowered
Result: reported results

Exact text from the filing

except percentages and per share data) Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 $ Change % Change 2023 2022 $ Change % Change Net revenues $ 1,040.6 $ 988.5 $ 52.1 5.3 % $ 3,387.7 $ 3,144.4 $ 243.3 7.7 % Income from operations 73.8 68.2 5.6 8.2 % 270.3 291.5 (21.2) (7.3) % Other expense, net (47.1) (29.4) (17.7) 60.2 % (151.2)

View on SEC.gov

Browse all earnings releases →

Callaway Golf Co filing history →

Source: SEC EDGAR

accession 0000837465-23-000034

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.