05:41 AM EDT, 05/09/2024 (MT Newswires) -- Topgolf Callaway Brands ( MODG ) reported Q1 non-GAAP earnings late Wednesday of $0.09 per diluted share, down from $0.17 a year earlier.

Analysts polled by Capital IQ expected $0.01.

Revenue for the quarter ended March 31 was $1.14 billion, compared with $1.17 billion a year earlier.

Analysts polled by Capital IQ expected $1.16 billion.

Topgolf said it expects Q2 revenue of $1.18 billion to $1.20 billion. Analysts polled by Capital IQ expect $1.19 billion.

The company revised its full-year outlook and said it now expects $0.31 to $0.39 in non-GAAP EPS, from $0.26 to $0.34 previously, and $4.44 billion to $4.48 billion in revenue, from the previous estimate of $4.52 billion to $4.56 billion. Analysts polled by Capital IQ expect $0.31 in non-GAAP EPS on revenue of $4.46 billion.

Shares of Topgolf Callaway Brands ( MODG ) were down more than 5% premarket Thursday.

Price: 15.50, Change: -0.85, Percent Change: -5.20