Filing Flows › Consumer Discretionary › Callaway Golf (CALY)
Callaway Golf (CALY) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Callaway Golf (CALY) Q3 2026 earnings results →
Q3 2026 Revenue down 6% year over year to $437M · 10¢ of every $1 of revenue kept as net profit · operating margin 10.2%
Callaway Golf made $437M in Q3 2026 (-6% Y/Y): Golf Equipment $282M, Apparel, Gear and Other $155M. Operating margin 10.2%, net earnings $45.7M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $436.9M in Q3 2026, down 6% year over year and down 29% from the previous quarter. Golf Equipment was the largest line at 64% of revenue. Golf Equipment lost $24.0M year over year (down 8%), 93% of the total change.
Gross margin was 51.9%, up 12.0 points from Q3 2025. Operating profit was $44.7M, a 10.2% margin (up 9.2 points year over year). Operating expenses grew 1% against a revenue fall of 6%. Net earnings were $45.7M. The effective tax rate was -0.7%.
Operating cash flow was $191.9M (down 16% year over year), 420% of net earnings. Non-cash charges added back $10.6M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $130.1M. Capital expenditures of $11.1M left free cash flow of $180.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $437M | -6% | 10.2% | $45.7M | $192M |
| Q2 2026 | 10-Q | Aug 4, 2026 | $612M | +2% | 18.8% | $75.2M | $250M |
| Q1 2026 | 10-Q | May 8, 2026 | $688M | +9% | 20.1% | $93.1M | −$169M |
| Q4 2025 | 10-K | Feb 27, 2026 | $368M | -1% | -14.7% | −$417M | $63.9M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $934M | -8% | 3.0% | −$14.7M | $228M |
| Q2 2025 | 10-Q | Aug 6, 2025 | $1.1B | -4% | 9.5% | $20.3M | $127M |
| Q1 2025 | 10-Q | May 12, 2025 | $1.1B | -4% | 6.1% | $2.1M | −$85.2M |
Charts
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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📈Investments: gains and what it boughtinteractive
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About Callaway Golf
Callaway Golf Company, together with our wholly owned subsidiaries (collectively, the “Company,” “Callaway Golf,” “Callaway,” “we,” “our,” or “us”), is a leading golf equipment, gear and apparel company with a portfolio of global brands, including Callaway Golf, Odyssey, TravisMathew and OGIO. Through an unwavering commitment to innovation and premium craftsmanship, Callaway designs, manufactures, and sells high-performance golf clubs, golf balls, apparel, bags, and other accessories—setting the standard for performance in the game of golf. Our products are distributed globally through a mix of on-course, specialty retail, wholesale, direct-to-consumer and international channels.
In its own words, from its 10-K, filed Feb 27, 2026.
Callaway Golf against its Sporting & Athletic Goods, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -6% against the peers' median +2%. Operating margin: 10.2% against the peers' median 10.2%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| CALY Callaway Golf | Q3 2026 | $437M | -6% | 10.2% |
| GOLF Acushnet Holdings | Q3 2026 | $649M | -1% | 12.4% |
| PTON Peloton Interactive | Q1 FY27 | $559M | +2% | 20.8% |
| YETI Yeti Holdings | Q2 2026 | $484M | +8% | 19.3% |
| JOUT Johnson Outdoors | Q3 FY26 | $190M | +5% | 9.7% |
| SBDS Solo Brands | Q2 2026 | $88.5M | -4% | 4.0% |
| CLAR Clarus | Q3 2026 | $71.2M | +3% | 4.7% |
| ESCA Escalade | Q3 2026 | $65.6M | -3% | 13.2% |
| AOUT American Outdoor Brands | Q1 FY27 | $37.3M | +25% | -5.7% |
Source: Callaway Golf 10-Q on SEC EDGAR · CIK 837465 · Sporting & Athletic Goods, NEC
Guidance and outlook
13F: who owns CALY and who is buying
More on CALY
- How Callaway Golf makes money: revenue by segment
- Callaway Golf next earnings date and what analysts expect
- Callaway Golf stock forecast, price target and fair value
- Who owns Callaway Golf stock: holders, funds and Congress trades
- Callaway Golf guidance and outlook
- Is Callaway Golf a takeover target? LBO and rumors
- Callaway Golf recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results