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AI brief of an SEC Form 8-K · Callaway Golf (CALY)

Callaway Golf full-year 2025 sales fall 0.8%; 2026 EBITDA guided to $170M-$195M

Negative Impact 4 of 5 earnings Written later

Callaway Golf reported fourth-quarter and full-year 2025 results on February 12, 2026. Full-year net sales fell 0.8% to $2.06 billion and GAAP earnings per diluted share dropped to $0.21 from $0.50, while adjusted EBITDA from continuing operations was $222.4 million, down $38.8 million. The company guided 2026 adjusted EBITDA to $170 million to $195 million, and reported net cash of about $680 million in cash against about $480 million of debt after its Topgolf and Jack Wolfskin transactions.

Key points

  • Q4 2025 net sales were $367.5 million, down 1.1%, and the GAAP net loss from continuing operations was $66.0 million, or $0.36 per diluted share, versus a loss of $0.51 a year earlier.
  • Full-year 2025 GAAP gross margin fell to 42.1%, with $34 million of incremental tariff expense cited as the main cause.
  • 2026 guidance calls for net sales of $1.98 billion to $2.05 billion and adjusted EBITDA of $170 million to $195 million, compared with $222 million reported for 2025.
  • The company announced a $200 million share repurchase program in January and plans to repay $258 million of convertible notes in May 2026.

The filing

CompanyCallaway Golf (CALY)
Form8-K, current report
Filed with the SECFeb 12, 2026, 4:50 PM ET
Accession number0000837465-26-000007

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

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 February 12, 2026.

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.