Topgolf Callaway Q2 rev $1.11B (-4.1% YoY), GAAP EPS $0.11, raises FY2025 outlook

Callaway Golf Co

2025-Q2 EPS reported $0.12 revenue$2,202,800,000

Q2 consolidated net revenue $1,110.5M, down 4.1% YoY; Adj EBITDA $195.8M (-4.8%).
GAAP net income $20.3M ($0.11 diluted EPS); Non-GAAP net income $45.6M ($0.24).
Sale of Jack Wolfskin completed May 31; available liquidity up 48% YoY to $1.16B.
Full year 2025 guidance raised: consolidated rev $3.80-3.92B, Adj EBITDA $430-490M.
Topgolf CEO Artie Starrs resigned; spin-off likely delayed to 2026 after new CEO.

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