Topgolf Callaway Brands raises 2025 guidance after Q3 revenue beats expectations
Topgolf Callaway Brands reported third-quarter 2025 net revenue of $934.0 million, down 7.8% from $1,012.9 million a year earlier, mainly because of the sale of Jack Wolfskin. Excluding Jack Wolfskin, ongoing business revenue rose 3.2%, and the company raised its full-year 2025 revenue and Adjusted EBITDA guidance, though it still posted a GAAP net loss of $14.7 million for the quarter. Shareholders get a higher outlook for the year, but reported revenue and profit measures declined.
Key points
- Q3 GAAP net loss of $14.7 million, or $0.08 per diluted share, versus a net loss of $3.6 million a year earlier
- Full-year 2025 consolidated Adjusted EBITDA guidance raised to $490 million to $510 million from $430 million to $490 million
- Full-year 2025 consolidated net revenue guidance raised to $3.90 billion to $3.94 billion from $3.80 billion to $3.92 billion
- Company cited $12 million in incremental tariffs in its core business in Q3 and about $40 million of estimated tariff impact for 2025
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 06, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.