Callaway Golf (CALY) FY2023 results: revenue $2.1 billion, down 46.6% on the year
Callaway Golf Co. (CALY) reported revenue of $2.1 billion for fiscal 2023, the year ended 31 December 2023, down 46.6% on the year before. Net income was $95 million, down 39.8%, and diluted earnings per share $0.50. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$2.1 billion
-46.6% on the year
FY2016FY2023
Operating margin
9.1%
6.4% a year earlier
FY2016FY2023
Net income
$95 million
-39.8% on the year
FY2016FY2023
Diluted EPS
$0.50
-39.0% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
365
-35.1
278
Capital expenditure
50.0
532
322
-90.6%
Free cash flow
315
-567
-44.0
Free cash flow margin
14.8%
-14.2%
-1.4%
Cash from investing
-543
-535
-162
Cash from financing
376
425
-124
-11.6%
Depreciation and amortisation
45.7
193
156
-76.3%
Share-based compensation
33.3
47.0
38.7
-29.1%
Buybacks
56.0
35.8
38.1
+56.4%
Dividends paid
n/a
0.0
0.0
Dividend per share
n/a
n/a
$0.01
Diluted shares, weighted
201m
201m
177m
-0.1%
Shares outstanding at period end
n/a
n/a
186m
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
3,878
3,774
3,683
+2.8%
Short-term borrowings
n/a
n/a
9.1
Debt
1,573
1,396
1,044
+12.7%
Operating lease liabilities
1,433
1,438
1,385
-0.3%
Finance lease liabilities
n/a
226
132
Other liabilities
2,236
1,757
1,494
+27.3%
Total liabilities and equity
9,121
8,590
7,748
+6.2%
Fixed assets
2,156
1,810
1,451
+19.2%
Goodwill
619
1,984
1,960
-68.8%
Intangible assets
1,506
1,504
1,529
+0.1%
Cash and equivalents
394
180
352
+118.4%
Receivables
200
167
105
+19.8%
Inventory
794
959
533
-17.2%
Other assets
3,451
1,987
1,817
+73.7%
Total assets
9,121
8,590
7,748
+6.2%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.