EarningsQ2 2026 Earnings Report
DE:CLY Q2 2026 EPS Results
Actual EPS€0.35
Consensus EPS€0.32
Beat/MissBeat by +€0.03
One Year Ago EPS€0.21
DE:CLY Q2 2026 Revenue Results
Actual Revenue€543.73M
Expected Revenue€537.89M
Beat/MissBeat by +€5.84M
YoY Revenue Growth-44.87%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
DE:CLY Upcoming Earnings
Callaway Golf's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:CLY Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive message: the company reported modest top‑line growth with strong profitability gains (36% EBITDA growth and significant gross margin expansion), meaningful market share improvements (notably in golf balls), deleveraging to net cash, and active capital return actions. Management was transparent about deliberate short‑term decisions (product cadence changes, SKU and store rationalization) that will pressure second‑half revenue/profitability but are designed to improve long‑term margins and free cash flow. Key risks include regional softness (Korea, weather‑driven Europe), FX and commodity cost volatility, and near‑term guidance softness for Q3, but overall the operational and financial progress and the balance sheet improvements outweigh the short‑term headwinds.Company Guidance
Quarterly Revenue and EBITDA Growth
Q2 net sales of $612 million, up 2% year‑over‑year; adjusted EBITDA of $125 million, up 36% year‑over‑year; both results beat the midpoint of Q2 guidance by approximately $15 million in revenue and $22 million in adjusted EBITDA.
First Half Strength and Operating Leverage
First half revenue increased 6% and adjusted EBITDA increased 33% year‑to‑date, demonstrating operating leverage and execution benefits from the company's focused pure‑play golf strategy.
Material Gross Margin Expansion
Q2 gross margin expanded 460 basis points to 48.5%; first half gross margin expansion was 360 basis points, driven by price increases, cost reductions and SKU rationalization.
Golf Ball Outperformance and Market Share Gains
Q2 golf ball revenue up 15% (first half up 8%); June 2026 U.S. golf ball market share reached a record high, up 250 basis points year‑over‑year to just over 23% overall (Oncore just over 24%).
Product Momentum Across Equipment Categories
Positive market feedback for Quantum woods and irons and new product introductions (e.g., mini spinners for high‑lofted fairways); driver and total wood share gains of ~110 bps and ~120 bps year‑to‑date, respectively (U.S.).
Balance Sheet Strength and Capital Returns
Returned to net cash position: $278 million cash and cash equivalents and $74 million outstanding debt as of June 30, 2026; paid down ~$1.4 billion in debt in H1; $200 million repurchase program with ~5.9 million shares repurchased ($84 million) through June and ~$120 million repurchase authority remaining.
Improved Tariff Outlook and Refund Progress
Resolution of tariff changes produced better‑than‑expected outcome: full year gross tariff expense now expected ~ $43 million (≈ $7 million improvement vs prior guidance); applied for refunds (~$11M Phase 1 and ~$32M Phase 2), received Phase 1 and partial Phase 2 (~$7M) with remaining refunds expected in H2 and total refund potential near $50M.
Guidance Raise
Full year 2026 net sales guidance increased by about $15 million at the midpoint to $2.045B–$2.070B; adjusted EBITDA guidance increased ~$31 million at the midpoint to $246M–$260M, reflecting Q2 beat, tariff improvement and modest gross margin upside.
DE:CLY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed