Topgolf Callaway Brands Corp

Topgolf Callaway Brands Corp. engages in the manufacture and distribution of golf equipment and accessories. It operates through the Golf Equipment and Apparel, Gear, and Other segments. The Golf Equipment segment focuses on the design, manufacture, and sale of a full line of golf equipment. The Apparel, Gear, and Other segment refers to the development and sale of soft goods under the Callaway, TravisMathew, OGIO, and Jack Wolfskin brands. The company was founded by Ely Reeves Callaway, Jr. in 1982 and is headquartered in Carlsbad, CA.

Earnings data Q4 2020

Earnings data Q1 2021

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Earnings data Q2 2024

Earnings data Q3 2024

Topgolf Callaway Brands reports record 2022 performance and eyes growth

Topgolf Callaway Brands Corp reported strong financial performance in 2022, driven by record revenue and adjusted EBITDA growth across its segments.
Despite challenges like extreme weather impact and elevated inventory levels, the company is poised for growth with strategic initiatives, product innovation, and market expansion plans.
Opportunities lie in new venue openings, digital enhancements, and market outperformance, positioning Topgolf for continued success and profitability in 2023 and beyond.
With a positive outlook for revenue and adjusted EBITDA growth, Topgolf Callaway Brands is well-positioned to capitalize on market opportunities and drive performance in the upcoming year.

Topgolf MODG reports robust Q1 earnings, eyes $800M EBITDA by 2025

Topgolf Callaway Brands Corp (MODG) reported strong Q1 performance with revenue and adjusted EBITDA growth, driven by venue success and product launches.
While facing challenges from the banking crisis and event dynamics, the company is optimistic about consumer demand and operational enhancements.
With a focus on digital initiatives, improved economics, and market expansion, Topgolf is poised for continued growth and financial strength.

Topgolf Callaway Brands reports solid Q2 performance and growth opportunities

Topgolf Callaway Brands delivered a strong Q2 performance with revenue and margin improvements. Despite challenges in the Golf Equipment segment, opportunities lie in expansion plans and strategic financial management.

Topgolf reports strong Q3 performance amidst market challenges

Topgolf's Q3 showed operational strength and cost-saving initiatives.
Challenges include lower same venue sales and market concerns on EBITDA.
Strengths lie in margin improvements, brand leadership, and growth prospects.
Opportunities in venue expansion, franchising, and long-term strategic focus.

Topgolf Callaway Brands Corp (MODG) reports positive earnings, eyes long-term growth

Topgolf Callaway Brands Corp (MODG) delivered positive financial results for Q4 and full year 2023, with expectations of significant growth in EBITDA, cash flow, and EPS from 2025 to 2028.
Despite challenges in Q1 2024, the company remains confident in its long-term earnings power, supported by strong performance across its Golf Equipment, Active Lifestyle, and Topgolf segments.
Strategic investments in digital transformation, new product launches, and synergies between golf segments position the company for continued growth and brand strength in the evolving consumer landscape.

Topgolf Callaway Brands Corp reports strong Q1 performance and challenges

Topgolf Callaway Brands Corp (MODG) had a strong start in Q1 2024, with revenue meeting expectations, strong EBITDA, and successful product launches driving market share gains.
Challenges in the Active Lifestyle segment and currency headwinds led to a lowered full-year revenue expectation, but confidence in future sales improvement remains.
Efficient inventory management, improved operating margins, and strategic initiatives position the company well for future growth and profitability.
Capital allocation strategy focusing on debt repayment, share repurchase, and reinvestment underscores a sound financial approach amid market challenges.

Topgolf Callaway Brands Corp reports mixed Q2 results, eyes spin-off

Topgolf Callaway Brands Corp faced challenges with lower same-venue sales impacting revenue, but strong cost management led to exceeding EBITDA expectations.
The company is actively pursuing initiatives to improve sales, while a strategic review may lead to value creation through a potential spin-off.
Despite revenue outlook adjustments, the company demonstrated financial strength with increased liquidity and effective inventory management.

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I revised my rating from buy to sell. I now have very little confidence in SVS growth given the weak discretionary spending environment, and poor results from initiatives implemented. MODG's 2Q24 performance showed a significant deceleration in SVS growth.

Topgolf Callaway Brands Corp.: Rating Downgrade On Poor SVS Performance

On August 7, 2024, Topgolf Callaway Brands Corp. (NYSE: MODG, $11.73, Market Capitalization: $2.2 billion), a prominent player in golf equipment and entertainment, announced that it is conducting a formal strategic review of its businesses, wherein the management is exploring a potential spin-off the Topgolf segment (for more information, visit spinoffresearch.com).

Topgolf Callaway Likely To Spin-Off Topgolf Business

Topgolf Callaway Brands Corp (NYSE:MODG ) Q2 2024 Results Conference Call August 7, 2024 5:00 PM ET Company Participants Katina Metzidakis - VP, IR & Corporate Communications Chip Brewer - President & Chief Executive Officer Brian Lynch - Chief Financial Officer & CLO Conference Call Participants Alex Perry - Bank of America Matthew Boss - JPMorgan Eric Wold - B. Riley Securities Megan Alexander - Morgan Stanley Joseph Altobello - Raymond James Operator Good day, and welcome to the Topgolf Callaway Brands Second Quarter 2024 Conference Call.

Topgolf Callaway Brands Corp (MODG) Q2 2024 Earnings Call Transcript

Topgolf Callaway's equipment and apparel segments saw declining revenue in Q2. Topgolf same-store sales are declining.

Topgolf Callaway Stock Fell Close to 25% This Week. Here's Why.

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Although the revenue and EPS for Topgolf Callaway (MODG) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Topgolf Callaway (MODG) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Topgolf Callaway Brands (MODG) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.39 per share a year ago.

Topgolf Callaway Brands (MODG) Q2 Earnings Top Estimates

Announces Formal Strategic Review of Topgolf Including Organic and Inorganic Alternatives  HIGHLIGHTS Q2 Net Income of $62 million, Non-GAAP Net Income of $83 million, and Adjusted EBITDA of $206 million were all ahead of expectations. Q2 Consolidated Revenues were down 1.9% year-over-year and full year Revenue and Adjusted EBITDA outlook lowered to a range of $4,200 - $4,260 million and $570 - $590 million, respectively.

TOPGOLF CALLAWAY BRANDS ANNOUNCES SECOND QUARTER 2024 RESULTS

Dubbed The Sure Thing, the club is designed to increase the likelihood of hitting the ball solidly into the air and experiencing that euphoric feeling that comes from a shot well hit DALLAS , Aug. 1, 2024 /PRNewswire/ -- It's a familiar feeling: You're at a Topgolf venue with friends and family, and approach the tee line to take your best swing. You shift into a backswing and let the club fly – only to soon discover the only thing you've contacted is thin air as you've missed the ball entirely.

Topgolf Debuts New Golf Club with One Goal: Make Golf Less Hard

CARLSBAD, Calif. , July 31, 2024 /PRNewswire/ -- Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands") (NYSE: MODG) announced today that it intends to release its second quarter 2024 financial results on Wednesday, August 7, 2024, after the market closes.

Topgolf Callaway Brands to Release Second Quarter 2024 Financial Results

Schauffele makes history and becomes the Champion Golfer of the Year with an iconic final round 65 at Royal Troon CARLSBAD, Calif. , July 22, 2024 /PRNewswire/ -- On Sunday, Callaway Staff Professional Xander Schauffele earned his 2nd major win of the year at The Open to become the Champion Golfer Of The Year.

Xander Schauffele Wins His 2nd Major At The Open Championship With Callaway Clubs and Golf Ball

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Chamberlin joins Topgolf from PENN Entertainment Inc. DALLAS , July 18, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf announced today that Erin Chamberlin has been named its new Chief Operating Officer beginning July 22. Chamberlin joins the company from PENN Entertainment Inc., the largest provider of gaming entertainment in North America, where she served as a Senior Vice President of Regional Operations since 2019.

Topgolf Names Erin Chamberlin as Chief Operating Officer

Callaway's very best in wedge design promotes ultimate spin, versatility, and feel in their most Tour-validated shape  CARLSBAD, Calif. , July 15, 2024 /PRNewswire/ -- Today Callaway Golf, one of the industry's leaders in equipment design, performance, and innovation, announced their new family of Opus and Opus Platinum Wedges.

Callaway Golf Announces New Opus and Opus Platinum Wedges

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The multiyear agreement brings with it co-promotional opportunities and select benefits for Cash App cardholders CARLSBAD, Calif. , June 20, 2024 /PRNewswire/ -- Topgolf Callaway Brands Corp. (NYSE: MODG) is excited to announce it has entered into a multiyear strategic agreement with Visa, a world leader in digital payments, that extends across Topgolf Callaway's family of brands, including Topgolf, Callaway and TravisMathew.

Topgolf Callaway Brands Joins Forces with Visa

Golf fans of all abilities can register now for the Unified Fore Joy ProAm WASHINGTON , June 6, 2024 /PRNewswire/ -- Special Olympics and modern golf entertainment leader Topgolf will play host to the largest day of inclusive golf in the world during the Unified Fore Joy ProAm on Sept. 27. Golf fans of all abilities will support and raise funds for Special Olympics programming at thirty-one participating Topgolf venues located in the United States and United Kingdom.

Special Olympics and Topgolf to Partner in New Inclusive Fundraiser on September 27

Delivering value for Players in a fun and memorable way is at the heart of the campaign DALLAS , June 6, 2024 /PRNewswire/ -- A typical golf announcer speaks in a calm and respectable manner. The gravity of each shot can be felt through the announcer's hushed voice and controlled breathing during crucial moments of the game.

Topgolf Introduces New Announcers in the Latest Iteration of its "Come Play Around" Campaign

A free game play offer, $50K cash prize sweepstakes, limited time menu items and ice cream truck tour await from Topgolf DALLAS , June 3, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf believes in the unlimited power of play, and one look at the company's summer lineup reveals Topgolf takes this belief quite seriously. Luckily for Players, that comes to life through a series of offers, sweepstakes, menu items and activations designed to give Players even more reasons to play this season.

Topgolf Kicks Off Its Summer of Play by Giving Players Even More Reasons to Come Play Around

MODG reported weaker-than-expected sales in 1Q24, but profitability exceeded estimates. Despite the weak quarter, I believe MODG's same-venue sales (SVS) are trending in the right direction and expects improvement in future quarters. There are company-specific initiatives, such as loyalty programs and digital marketing, that I expect will drive growth for MODG.

Topgolf Callaway Brands: Mid-Single-Digits Topline Growth Is Achievable

TORRANCE, Calif.--(BUSINESS WIRE)--SCORE Sports, a leading designer, manufacturer, and seller of sports uniforms, apparel, and equipment, today announced that it has named Joe Flannery as Chief Executive Officer. Current President and CEO Kevin Mahoney will remain with the company for a transition period to ensure continuity. Most recently, Flannery was Executive Vice President at Topgolf Callaway Brands (NYSE: MODG), a global leader of golf, lifestyle, and entertainment brands, where he was re.

SCORE Sports Names Joe Flannery Chief Executive Officer

Morse joins Topgolf from Dallas-based Andrews Distributing DALLAS , May 22, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf announced today that Maryam Morse has been named its new Chief People Officer beginning May 27. Morse joins the company from Andrews Distributing where she served as the Executive Vice President of Human Resources and Communications since 2018.

Topgolf Names Maryam Morse as Chief People Officer

PepsiCo and Topgolf Launch Eight-Year Partnership Offering the Chance to Win Eight Years of Free Topgolf and PepsiCo Beverages DALLAS , May 15, 2024 /PRNewswire/ -- Modern golf entertainment leader Topgolf announced today an eight-year beverage agreement with global food and beverage leader, PepsiCo. Beverages will be supplied to Topgolf's U.S. venues beginning May 15, 2024, with the rollout expected to be completed by June 2024. "We're absolutely thrilled to be partnering with PepsiCo," said Topgolf Chief Brand Officer Geoff Cottrill.

Topgolf Selects PepsiCo as Official Beverage Partner

Topgolf Callaway Brands Corp. (NYSE:MODG ) Q1 2024 Earnings Conference Call May 8, 2024 5:00 PM ET Company Participants Katina Metzidakis - VP, IR & Corporate Communications Chip Brewer - President & CEO Brian Lynch - CFO & CLO Conference Call Participants Matt Boss - JPMorgan Alex Perry - Bank of America Megan Alexander - Morgan Stanley Kate McShane - Goldman Sachs Joe Altobello - Raymond James Casey Alexander - Compass Point Research Noah Zatzkin - KeyBanc Capital Markets Operator Good day and welcome to Topgolf Callaway Brands' First Quarter of 2024 Earnings Conference Call. Please note that today's event is being recorded and all participants will be in a listen-only mode during the call.

Topgolf Callaway Brands Corp. (MODG) Q1 2024 Earnings Call Transcript

Although the revenue and EPS for Topgolf Callaway (MODG) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

News for Topgolf Callaway Brands Corp Stock (MODG)