Filing Flows › Callaway Golf (CALY) › Q1 2026
Callaway Golf (CALY) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Callaway Golf (CALY) reported revenue of $688M for the first quarter 2026 (Q1 2026), +9% from a year earlier and +87% from the quarter before. Operating margin was 20.1%, net earnings $93.1M (13.5% of revenue).
Callaway Golf, Q1 2026: revenue $688M (+9% year over year), operating margin 20.1%, net earnings $93.1M, operating cash flow −$169M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $688M | +87% | +9% |
| Gross profit | $327M | — | +15% |
| Operating profit | $138M | — | +34% |
| Net earnings | $93.1M | — | 44× |
| Operating cash flow | −$169M | -364% | — |
What changed
Revenue was $687.5M in Q1 2026, up 9% year over year and up 87% from the previous quarter. Golf Equipment was the largest line at 71% of revenue. Golf Equipment added $42.3M year over year (up 10%), 73% of the total change.
Gross margin was 47.5%, up 2.5 points from Q1 2025. Operating profit was $138.2M, a 20.1% margin (up 3.7 points year over year). Of the extra revenue versus Q1 2025, 61% reached operating profit, above the 16% margin then. Operating expenses grew 4% against revenue growth of 9%. Net earnings were $93.1M, up 4333% year over year. The effective tax rate was 26.0%.
Operating cash flow was −$169.0M. Non-cash charges added back $10.8M of depreciation and amortization and $6.4M of share-based compensation. Working capital and other items used $279.3M. Capital expenditures of $7.0M exceeded it, leaving free cash flow of −$176.0M.
Questions
What was Callaway Golf's revenue in the first quarter 2026?
Callaway Golf (CALY) reported revenue of $688M for the first quarter 2026 (Q1 2026), +9% from a year earlier and +87% from the quarter before.
Was Callaway Golf profitable in the first quarter 2026?
Operating profit was $138M (20.1% of revenue) and net earnings $93.1M.
Source: Callaway Golf 10-Q on SEC EDGAR.