Core Insights - Topgolf Callaway Brands reported $934 million in revenue for Q3 2025, a year-over-year decline of 7.8%, with an EPS of -$0.05 compared to $0.02 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $909.69 million, resulting in a surprise of +2.67%, while the EPS surprise was +76.19% against a consensus estimate of -$0.21 [1] Revenue Breakdown - Topgolf segment generated net revenues of $472.2 million, surpassing the average estimate of $456.47 million, reflecting a year-over-year increase of +4.2% [4] - Active Lifestyle segment reported net revenues of $156.5 million, below the average estimate of $170.68 million, indicating a significant year-over-year decline of -41.2% [4] - Golf Equipment segment achieved net revenues of $305.3 million, exceeding the estimated $295.22 million, with a year-over-year increase of +4% [4] - Services segment generated net revenues of $468.7 million, surpassing the average estimate of $455.91 million, representing a year-over-year increase of +4.4% [4] - Products segment reported net revenues of $465.3 million, slightly below the estimated $472.15 million, showing a year-over-year decline of -17.5% [4] Operating Income - Topgolf segment's operating income was $31.1 million, significantly higher than the average estimate of $15.04 million [4] - Active Lifestyle segment reported an operating income of $13.7 million, exceeding the estimated $8.13 million [4] - Golf Equipment segment achieved an operating income of $23.2 million, slightly above the average estimate of $22.33 million [4] Stock Performance - Topgolf Callaway shares returned +2.1% over the past month, outperforming the Zacks S&P 500 composite's +1.3% change [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]