Topgolf Callaway Brands (MODG) reported $897.1 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 5.4%. EPS of -$0.30 for the same period compares to -$0.27 a year ago.The reported revenue represents a surprise of +3.60% over the Zacks Consensus Estimate of $865.9 million. With the consensus EPS estimate being -$0.34, the EPS surprise was +11.76%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they com ...

Topgolf Callaway Brands (MODG) came out with a quarterly loss of $0.30 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 11.76%. A quarter ago, it was expected that this maker of golf equipment and accessories would post earnings of $0.11 per share when it actually produced earnings of $0.20, delivering a surprise of 81.82%.Over the ...

CARLSBAD, Calif., Feb. 6, 2024 /PRNewswire/ -- Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands") (NYSE: MODG) announced today that it intends to release its fourth quarter and full-year 2023 financial results on Tuesday, February 13, 2024, after the market closes. Following the release, the Company's management team will hold a conference call to review the results and discuss the Company's business and outlook beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time). A live web ...

Topgolf Callaway Brands Corp.’s (MODG) Callaway Golf unveiled its latest Paradym Ai Smoke Drivers, Fairway Woods, Irons and Hybrids. These clubs, set for pre-sale on Jan 12 and retail availability from Jan 26, 2024, feature the groundbreaking Ai Smart Face.The innovative technology, guided by real player data, strategically places multiple sweet spots across the entire face, unlocking enhanced distance for every player.Focus on Expansion and Digital InitiativesShares of Topgolf Callaway have increased 8.5% ...

Paradym Ai Smoke Drivers The Paradym Ai Smoke Drivers represent a quantum leap forward in Callaway's Ai journey, with the most sophisticated face they've ever created from player data and machine learning. The Ai Smart Face optimizes driver performance using swing dynamics from thousands of golfers. By leveraging Ai and Machine Learning, these swing dynamics are used to create over 50,000 virtual face prototypes, optimizing performance for each head shape.  With Ai Smart Face technology, micro deflections a ...

Topgolf Callaway Brands Corp. (NYSE:MODG) Q3 2023 Earnings Conference Call November 8, 2023 5:00 PM ET Company Participants Katina Metzidakis - Vice President, Investor Relations & Corporate Communications Oliver Brewer - President & Chief Executive Officer Brian Lynch - Chief Financial Officer & Chief Legal Officer Patrick Burke - Senior Vice President, Global Finance Conference Call Participants Matthew Boss - JPMorgan Randy Konik - Jefferies Daniel Imbro - Stephens Joe Altobello - Raymond James Alex Perr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period to | Title of Each Class | Trading Symbol(s) | Name of Each Exchange on which Registered | | --- | --- | --- | | Common Stock, $0.01 par value per share | MODG | The New Y ...

Six Months Ended June 30, (1) Includes amortization and depreciation of acquired intangible assets and purchase accounting adjustments. (3) Related to the release of tax valuation allowances recorded in connection with the merger with Topgolf. 27 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------|--------------------------|------------|--------------------------------|------------------------------------------------- ...

Financial Data and Key Metrics Changes - Q2 2023 net revenue was $1.2 billion, an increase of 5.7% year-over-year or 6.5% on a constant currency basis, driven by Topgolf's robust 6.6% revenue growth [65] - Q2 non-GAAP operating income was $130.5 million, down approximately 3% year-over-year, while Q2 adjusted EBITDA was $206.2 million, down 0.5% compared to last year [34][35] - Q2 non-GAAP net income was $77.8 million, a decrease of $15.7 million compared to Q2 2022, primarily due to a $20.3 million increase in interest expense [66] Business Segment Data and Key Metrics Changes - Topgolf revenue increased by $67.1 million to $471 million, a year-over-year increase of 16.6%, driven by the addition of 11 new venues and approximately 1% same venue sales growth [67] - Golf Equipment net revenue was $451 million, flat year-over-year, but up 1% in constant currency, supported by increased market share gains in golf clubs and strong golf ball sales [69] - Active Lifestyle segment revenue was $258 million, slightly down or flat on a constant currency basis compared to Q2 2022, primarily due to a shift in timing of wholesale shipments [70] Market Data and Key Metrics Changes - The U.S. hard goods market for golf is down just 1.6% year-to-date through June, consistent with expectations, while U.S. rounds played are up 5.5% year-over-year [14] - The brand achieved strong market share gains in every category in both on- and off-course channels, with the Paradigm line of clubs being a primary driver of success [26][27] Company Strategy and Development Direction - The company is focused on expanding its Topgolf venues, with plans to open 11 new venues in 2023, which are expected to drive growth across the modern golf ecosystem [8][12] - The company aims to achieve a 35% 4-wall adjusted EBITDAR margin by 2025, indicating a strong focus on improving profitability [68] - The company is also investing in digital initiatives and marketing campaigns to enhance customer engagement and drive sales growth [24][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering strong EBITDA growth for the full year and transitioning to being cash flow positive [19] - The company anticipates that the second half of 2023 will see improved same venue sales growth, driven by easier year-over-year comparisons and new initiatives [11][47] - Management noted that the modern golf consumer remains healthy and engaged, with expectations for double-digit revenue and EBITDA growth this year [79] Other Important Information - The company reported a reduction of $119 million in inventory levels in the first half of 2023, indicating effective inventory management [42] - A small acquisition of the Swing Suite business for approximately $12 million was made, which is expected to be immediately cash flow positive [44] - The company completed a significant debt refinancing in March 2023, adding approximately $300 million of additional liquidity [71] Q&A Session All Questions and Answers Question: Can you elaborate on the progression of Topgolf same venue sales through the second quarter? - Management indicated that same venue sales growth was 1% for Q2, with expectations for 1% to 3% growth in Q3, supported by various initiatives [81][104] Question: How is the corporate events business performing compared to walk-in traffic? - Corporate events are down year-over-year but performing well compared to 2019 levels, while consumer business remains strong [113] Question: What are the expectations for the Golf Equipment business for the rest of the year? - The Golf Equipment segment is expected to grow in the second half, with a more heavily weighted launch schedule in Q4 compared to Q3 [116]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2023 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period to Commission file number 001-10962 Topgolf Callaway Brands Corp. (Exact name of registrant as specified in its charter) Delaware 95-3797580 (State or other jurisdiction of inc ...