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Callaway announces record net sales and earnings for Q1 2018



It’s been a great 2018 for Callaway Golf thus far, so it’s not hard to see why CEO Chip Brewer is smiling.

While you’ll want to head over to your preferred financial news site for deep dive into the balance sheet and Q1 results, here are a few highlights from the company’s earnings press release and conference call.

Yesterday, the company announced record sales and earnings for Q1, 2018. Not surprisingly, Callaway increased its sales and earnings estimates for the rest of 2018.

Callaway’s net sales increased $94 million (31 percent) to $403 million in the first quarter of 2018, compared to Q1 2018. Earnings per share increased $0.38 to $0.65.


+ 19.7%


+ 31.9%


+ 61.3%


+ 14.8%


+ 23.8%


+ 49.0%

Golf Balls

+ 13.9%

Rest of Asia

+ 35.0%

Gear & Other

+ 35.3%


+   7.5%

“It has been a strong start to 2018,” said Chip Brewer, President and Chief Executive Officer of Callaway Golf Company. “Sales across our entire product line, including the Rogue line of woods and irons as well as the new Chrome Soft golf balls, are off to a strong start and we also benefitted from improved foreign exchange rates and market conditions. As a result, our EBITDA increased 95% during the first quarter.

“Business around the globe remains strong with all major regions reporting significant sales growth and our new businesses are performing at or above plan. While I am mindful that the first quarter generally represents the initial sell-in for the new golf season, I am pleased overall with how our business is performing and am cautiously optimistic for the balance of the year.”

What Brewer’s cautious optimism looks like quantitatively: expected 2018 net sales between $1.17 billion and $1.19 billion, compared with a prior guidance of sales between $1.12 billion to $1.14 billion.

Here are a few more remarks of note from CEO Brewer during the earnings conference call

“Revenues were up 31% to $403 million and fully diluted earnings per share, as well as trailing 12-month EBITDA more than doubled. Our new products, particularly the Rogue line of woods and irons, as well as our new Chrome Soft golf balls featuring Graphene are resonating on a global basis, and our new business initiatives continue to perform at or above expectations. We have made and are continuing to make significant investments in our business, which we believe are paying off nicely for shareholders.”

“In the U.S., our revenues were up 32% for the quarter. The quarterly performance was driven by double-digit growth in our core business, as well as the addition of TravisMathew, which had an outstanding quarter as well.”

“For the quarter, Callaway was the number one total hard goods brand, number one in total clubs, woods, irons, and putters. In golf balls, we remain the number two brand with 16.2% dollar share, up 220 basis points year over year.”

You can read the full conference call transcript on Seeking Alpha

And you can find Callaway’s earnings press release here.


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  1. peter collins

    May 1, 2018 at 10:56 am

    How well do they have to do, befor the prices come down

  2. Jason A

    Apr 30, 2018 at 11:58 am

    ive been a callaway fan all my life. few years back their stuff was mediocre at best, fast forward to today, love their products now. just got a new rogue set, love everything about it.

  3. 8thehardway

    Apr 28, 2018 at 9:59 pm

    Callaway has been raising the bar for a while and between their great products and outstanding customer service they are beginning to dominate my bag. I’m delighted at their success.

  4. Moses

    Apr 28, 2018 at 11:44 am

    Love their equipment now.

  5. tda

    Apr 28, 2018 at 2:39 am

    My Callaway stocks have been doing well all year

  6. Mark King

    Apr 27, 2018 at 10:03 pm

    Chip is SO hot!

  7. Johnny Penso

    Apr 27, 2018 at 10:02 pm

    Glad to see them doing well. A healthy golf manufacturer is good for all of us.

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More beginners, bigger base: Insights from the NGF’s Industry Report



A record number of first-time players took up the game in 2017, according to the National Golf Foundation’s Industry Report. 2.6 million beginners swung a club for the first time last year. Additionally, first-timers making their maiden trips to a golf course increased for the fourth straight year.

The NGF took a different route with its report this year, saying,

“To more accurately reflect the evolution of golf’s overall consumer base…[the organization] expanded definition of participation looks beyond traditional on-course golf and also factors in off-course engagement, which tracks those who swing a golf club at facilities like Topgolf, indoor simulators and driving ranges.”

Per the NGF, the on-course participant base held steady at 23.8 million golfers in 2017. 8.3 million people played exclusively off course, interestingly, at Topgolf and similar facilities, driving ranges, and simulators. Thus, the total number of “golfers” in the U.S. is nearly 32 million.

“Golf participation is evolving,” said NGF President Joe Beditz. “On-course, green-grass participation is holding its own and off-course is continuing to grow. There’s no denying that we’re down from our pre-recession highs, but it appears to us that traditional participation is stabilizing and there may be a new support level between 23 million and 24 million.”

The game’s most ardent players continue to account for 95 percent of all rounds-played and spending in an $84 billion industry.

With respect to translating off-course participation into on-course play, the number of non-golfers who said that they’re “very interested” in playing golf increased to 14.9 million from 12.8 million in 2016.

Rounds played were down 2.7 percent to 456 million in 2017. As has been the case every year since 2006, there were more facility closures than openings, with just over 200 facilities shutting their doors. The U.S. still has just under 15,000 facilities: 45% of the global supply.

Openings such as Streamsong Black in Florida, Shepherd’s Rock in Pennsylvania and Bayou Oaks in Louisiana got plenty of attention, but renovation projects remain the major industry investment. The NGF tracked 1,100 major course renovations in 2017.

The average price of an 18-hole round of golf at a public course in 2017: $34. 75 percent of U.S. courses are open to the public. The NGF says this is the highest public-to-private ration in the country’s history.

Looking ahead to 2018, the NGF sees “a further balancing of supply and demand.” 15 to 25 new course openings, 75 to 100 major renovation projects.

NGF members can access the full report here for free ($199 for non-members)

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Tour News

Lucas Glover’s wife arrested for domestic violence after allegedly attacking husband for poor play



Lucas Glover’s wife, Krista, 36, was arrested after allegedly attacking Glover and his mother after he missed the 54-hole cut at The Players Championship, Saturday.

Krista Glover was released on $2,500 bail after spending the night in St. John’s County Jail. She’s slated for a May 31 court date on misdemeanor charges of domestic violence battery and resisting arrest without violence.

Per the officer’s report, following Glover’s third-round 78 and MDF at Sawgrass, the Glovers had an altercation, which Lucas’ mother, Hershey, attempted to stop. At that point, Krista allegedly began attacking her husband’s mother. Hershey Glover reportedly had cuts and blood on her arms, as did Lucas.

Glover and his mother did not want to press charges, according to reports. Glover reported his wife had been drinking and that she frequently berates him about his poor play, calling him a “‘loser” and other names in front of the couple’s children. 

The three-time PGA Tour winner tweeted the following statement, Sunday.

Per the St. John’s County Sheriff’s Department, full details are available via the arrest report below.

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Popular Photo Galleries

10 interesting photos from the AT&T Byron Nelson



The PGA Tour arrives at Trinity Forest Golf Club for the first time as the AT&T Byron Nelson settles into its new home.

To familiarize yourself with this 2016 Coore & Crenshaw design, we have shots from both the front and back nine at this buzzworthy track. Additionally, we have our usual assortment of range photos, as well as WITB looks and shots of J.J. Spaun’s sweet Scotty Cameron. We also got a look at Jordan Spieth’s instructor, Cameron McCormick’s studio, which is extremely cool.

Here are 10 interesting photos from our Monday/Tuesday coverage.

Rumor has it J.J. Spaun thought his “for street use only” custom Cameron merited inclusion in 10 Interesting Photos. He’s not wrong!

Have yourself a Callaway Apex MB, Noah Goodwin! (The reigning U.S. Junior Am champ is in the field on a sponsor’s exemption)

What’s better? Troy Matteson’s headcovers or the bag by his bag? Toss up.

Martin Flores: A man of multiple Scotty Cameron headcovers

What’s going on here? Vintage lefty weapons and more…

Colt Knost’s camp has the beverage situation under control. (Also: great range buckets)

Not sure of the owner, by strong headcover game

Ireland’s Seamus Power’s custom Accra shaft

Cameron McCormick hangs banners for his students’ achievements. There are many.

PSA: You have to see our shots of Trinity Forest

Check out all our photos from Monday and Tuesday at Lord Byron’s tournament.

Discussion: See what GolfWRX Members are saying about the photos below


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19th Hole