secwatch.observer — SEC 8-K summary
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Issuer:     Callaway Golf Co (CALY)
CIK:        0000837465
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0000837465-24-000068
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Topgolf Callaway Q2 net income $62M, full-year guidance lowered, launches Topgolf strategic review
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- Q2 revenue $1.158B (-1.9% YoY); GAAP net income $62M vs $117M last year; Adj. EBITDA $206M.
- Full-year revenue guidance cut to $4.20-4.26B from $4.435-4.475B; Adj. EBITDA guidance cut to $570-590M.
- Topgolf same venue sales -8% (below expectations); segment revenue +5% on new venues; formal strategic review includes potential spin.
- Golf Equipment revenue -8.2% ($413.8M); Active Lifestyle -3.2% ($249.6M); inventory down $192.7M YoY.
- Made $50M discretionary term loan paydown; first-half operating cash flow improved $173M YoY.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/837465/000083746524000068/0000837465-24-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/837465/000083746524000068/modg-20240807.htm
  HTML page:      https://secwatch.observer/filing/0000837465-24-000068

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