Callaway Golf’s Q1 Sales Up 9.2%, Adjusted EBITDA Rises 31%; Guidance Raised
Callaway Golf posted Q1 net sales of $687.5 million, up 9.2% year-over-year, with adjusted EBITDA climbing 31% to $163.7 million. The company repurchased $79 million of stock, settled $258 million of convertible notes and raised its 2026 net sales guidance to $2.015-2.070 billion.
1. Q1 Financial Results
Net sales rose 9.2% year-over-year to $687.5 million, driven by a 9.5% increase in Golf Equipment and an 8.4% increase in Apparel, Gear & Other. Non-GAAP net income from continuing operations surged 95.8% to $111.8 million and adjusted EBITDA grew 31.1% to $163.7 million, while GAAP net income reached $74.9 million.
2. Share Repurchases and Debt Settlement
Callaway repurchased $79 million of common stock through April 2026, including $75 million in open-market transactions, and on May 1 settled $258 million of convertible notes in cash, exiting the quarter with a net cash position and reduced financial leverage.
3. 2026 Outlook Raised
The company increased its full-year net sales guidance to a range of $2.015 billion to $2.070 billion and raised adjusted EBITDA expectations to between $211 million and $233 million, reflecting confidence in product demand and margin expansion initiatives.