---
schema_version: "secwatch.filing_event.v1"
accession: "0000837465-23-000034"
form_type: "8-K"
ticker: "CALY"
cik: "0000837465"
company_name: "Callaway Golf Co"
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T12:19:10.908667+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000837465-23-000034
- form_type: 8-K
- ticker: CALY
- cik: 0000837465
- company_name: Callaway Golf Co
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/837465/000083746523000034/0000837465-23-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/837465/000083746523000034/modg-20231108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000837465-23-000034
- JSON: https://secwatch.observer/filing/0000837465-23-000034.json
- Plain text: https://secwatch.observer/filing/0000837465-23-000034.txt

## Key facts
- Earnings Releases
  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
  source text: 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)
  evidence_url: https://www.sec.gov/Archives/edgar/data/837465/000083746523000034/0000837465-23-000034-index.htm

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