Filing Flows › Callaway Golf (CALY) › Q2 2026 › vs Q1 2026
Callaway Golf (CALY) Q2 2026 vs Q1 2026 (quarter over quarter)
Callaway Golf's revenue fell $75.3M (-11%) from $688M in Q1 2026 to $612M in Q2 2026. Gross margin 50.1% against 47.5% (+2.6 pts).
Callaway Golf, Q2 2026: revenue $612M (+2% year over year), operating margin 18.8%, net earnings $75.2M, operating cash flow $250M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 50.1% | 47.5% | +2.6 pts |
| Operating margin | 18.8% | 20.1% | -1.3 pts |
| Net margin | 12.3% | 13.5% | -1.3 pts |
| Free cash flow margin | 38.9% | -25.6% | +64.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $612M | $688M | −$75.3M | -11% |
| Gross profit | $307M | $327M | −$20.0M | -6% |
| Cost of revenue | $306M | $361M | −$55.3M | -15% |
| Operating profit | $115M | $138M | −$23.4M | -17% |
| Operating expenses | $192M | $188M | $3.4M | +2% |
| Pre-tax earnings | $110M | $126M | −$15.8M | -13% |
| Other expense, net | $4.8M | $12.4M | −$7.6M | -61% |
| Research & development | $15.8M | $15.2M | $600K | +4% |
| SG&A | $176M | $173M | $2.8M | +2% |
| Net earnings | $75.2M | $93.1M | −$17.9M | -19% |
| Income tax | $34.8M | $32.7M | $2.1M | +6% |
| Depreciation & amortization | $9.5M | $10.8M | −$1.3M | -12% |
| Share-based compensation | $6.0M | $6.4M | −$400K | -6% |
| Working capital & other | $159M | −$279M | $438M | — |
| Operating cash flow | $250M | −$169M | $418M | — |
| Free cash flow (OCF − capex) | $238M | −$176M | $414M | — |
| Capital expenditures | $11.4M | $7.0M | $4.4M | +63% |
Questions
How much did Callaway Golf's revenue grow quarter over quarter in Q2 2026?
Callaway Golf's revenue fell $75.3M (-11%) from $688M in Q1 2026 to $612M in Q2 2026. Gross margin 50.1% against 47.5% (+2.6 pts).