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Research
Research Alert: Callaway Golf Beats Estimates; Raises Guidance
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Callaway Golf delivered strong Q1 2026 results with net sales of $687.5M (+9.2%) and adjusted EBITDA of $163.7M (+31.1%), demonstrating early benefits from the Topgolf divestiture. Both segments performed well, with Golf Equipment sales growing 9.5% to $486.2M and Apparel increasing 8.4% to $201.3M, while GAAP gross margin expanded 250 bps to 47.5%. The balance sheet transformation is evident with $500M cash against $474M debt, enabling $79M in share repurchases and aggressive capital returns following the strategic divestiture. Management raised full-year 2026 guidance with net sales now expected at $2.015B-$2.070B and adjusted EBITDA at $211M-$233M, reflecting confidence in sustained demand and operational improvements. We are impressed with the company's quick success as a focused entity. However, valuation appears stretched at over 23x consensus 2026 EBITDA estimates even if estimates rise to match the company's guidance.
$CALY
Research
Research Alert: Gmed Posts Strong Q1 On Strong Sales, Margin Expansion, And Nevro Integration
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:GMED delivered exceptional Q1 2026 results, with adjusted EPS of $1.12 (+64.7% Y/Y), significantly exceeding expectations, while net sales reached $759.9M (+27.0% Y/Y). The base business excluding Nevro grew a solid 13.2% Y/Y to $677.2M, indicating healthy organic growth across the portfolio. The standout performance was attributed to remarkable margin expansion, with adjusted EBITDA margins improving 260 bps to 32.3% and gross margins expanding 280 bps to 66.4% as the company continued realizing meaningful synergies from its NuVasive and Nevro acquisitions. Management raised 2026 adjusted EPS guidance to $4.70-$4.80 from the previous $4.40-$4.50 range while reaffirming revenue guidance of $3.18B-$3.22B, reflecting confidence in operational leverage benefits. The core spine business showed particular strength, with US Spine delivering its third consecutive quarter of over 10% growth, while Nevro integration progressed in line with expectations, contributing $82.7M in sales during the quarter.
$GMED
Mining & Metals
Earnings Flash (VHI.TO) VitalHub Reports Q1 Total Revenue up 47% YoY to $31.9M
$VHI.TO