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Topgolf Callaway Brands Corp. (NYSE: MODG) is a leader in the modern golf and active lifestyle sector. The company creates premium golf equipment, provides world-class golf entertainment, and sells golf and active lifestyle apparel through its renowned brands, including Topgolf, Callaway Golf, Odyssey, TravisMathew, Jack Wolfskin, OGIO, and Toptracer. The company's core segments include Topgolf, which generates the majority of its revenue through service revenues from Topgolf venues and Toptracer technology, and Golf Equipment and Active Lifestyle.
Topgolf Callaway Brands is renowned for pushing the limits of performance and innovation, offering products designed to improve the game for golfers of all skill levels. Notably, the company recently announced stellar financial results for the fourth quarter of 2023, with a significant increase in consolidated revenue and Adjusted EBITDA. Their latest golf equipment line has received accolades from consumers and trade alike, further establishing their dominance in the market.
The company also made headlines with its digital transformation initiatives, including the launch of a new cross-brand consumer data platform. In addition, Topgolf has expanded its reach by opening new venues and acquiring the BigShots franchise, enhancing venue-level margins.
Despite potential economic challenges, Topgolf Callaway Brands remains optimistic about 2024, expecting further revenue growth and solid cash flow generation. Their strategic partnerships and focus on operational efficiencies are pivotal to their sustained success in the rapidly evolving golf and active lifestyle market.
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Topgolf Callaway Brands Corp. (NYSE: MODG) will release its Q4 and full-year 2023 financial results on February 13, 2024. The management team will hold a conference call to discuss the results and business outlook. Additionally, the company's participation in upcoming conferences was announced.
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Callaway Golf (ELY) announces the launch of their Paradym Ai Smoke Drivers, Fairway Woods, Irons, and Hybrids, featuring Ai Smart Face technology designed to create sweet spots across the entire face. The clubs are available for pre-sale on January 12 and at retail starting on January 26. The Paradym Ai Smoke Drivers represent a significant advancement in Callaway's Ai journey, leveraging player data and machine learning to optimize driver performance. The 360° Carbon Chassis and internal titanium support structure result in improved launch conditions and forgiveness. The Paradym Ai Smoke Fairway Woods and Hybrids also feature Ai Smart Face technology and Tungsten Speed Cartridges for enhanced launch, spin, and distance. The Paradym Ai Smoke Irons offer exceptional distance and tight dispersion into the green with an all-new Dynamic Sole Design. Pricing starts at $599.99 for Drivers, $349.99 for Fairway Woods, $279.99 for Hybrids, and $999.99 for a standard 7-piece set of Irons.
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Callaway Golf (ELY) announces the launch of their new line of Chrome Tour, Chrome Tour X, and Chrome Soft Golf Balls, setting a new standard in performance. The golf balls are meticulously engineered for exceptional speed, consistent flight, incredible spin, and greenside control. They will be available at retail on February 2nd at a price of $54.99 per dozen.
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Topgolf (TGTG) Breaks Ground on Two-Level Venue in Greensboro, North Carolina
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Topgolf (TGOLF) is set to open its newest venue in Little Rock, Arkansas, on December 22, 2023. The 98th global outdoor venue and the 88th in the U.S., the new location will employ approximately 300 Playmakers and feature 72 outdoor climate-controlled hitting bays with Toptracer technology. The venue will offer virtual courses, signature games, and half-off game play on Tuesdays, along with a full-service restaurant, private event rooms, and outdoor areas for family-friendly programming and yard games. Little Rock Mayor Frank Scott Jr. expressed excitement about the addition of Topgolf to the city, noting the creation of over 300 new jobs and the anchor of a new mixed-use development.
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Topgolf to Open Lafayette Venue in Louisiana, Ticker: TGOLF. Topgolf, a modern golf entertainment leader, is set to open its Lafayette venue on Dec. 15, becoming Louisiana's second Topgolf location. The venue will feature 60 outdoor climate-controlled hitting bays, Toptracer technology, a full-service restaurant, rooftop terrace, and more. The opening will create roughly 200 job opportunities, with plans for a New Orleans venue by early 2025. Topgolf Lafayette will offer half-off game play on Tuesdays and provide lessons through the Topgolf Coach program.
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Topgolf (TGGF) will open its 96th global venue and 9th in Florida on Dec. 15. The Pompano Beach venue, part of The Pomp mixed-use development, will feature 102 outdoor hitting bays, Toptracer technology, a full-service restaurant, rooftop terrace, and more. The venue will employ roughly 400 Playmakers and offer half-off game play on Tuesdays. Topgolf Pompano Beach aims to provide a modern golf experience for both beginners and experienced players in a relaxed environment.
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Topgolf Callaway Brands Corp. (NYSE: MODG) announced its financial results for the third quarter ended September 30, 2023. The company reported solid financial results, with net revenues growing by 5.3%, driven by continued growth at Topgolf and momentum in Active Lifestyle. However, net income decreased by 22.9% on a GAAP basis. Topgolf remains on track to open 11 new venues in the U.S. this year. The company is confident in its ability to deliver positive free cash flow for the total Company and Topgolf this year.
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Topgolf announced the opening of its Mobile venue on November 17th, making it Alabama's third Topgolf location. The venue will have 60 outdoor climate-controlled hitting bays, a nine-hole mini-golf course, and Topgolf's signature games. It will employ approximately 200 Playmakers and will feature a full-service restaurant, a 22-foot video wall, more than 100 HDTVs, and year-round family-friendly programming.
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Odyssey Golf announces its new lineup of Ai-ONE and Ai-ONE Milled Putters featuring revolutionary insert technologies for more consistent ball speeds. The Ai-ONE urethane insert delivers putts up to 21% closer to the hole from 32'. The Ai-ONE Milled putters finish closer to the hole on average than a traditional milled putter. The putters will be available on November 3 with prices starting at $299.99.
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FAQ
What is the current stock price of Topgolf Callaway Brands (MODG)?
The current stock price of Topgolf Callaway Brands (MODG) is $7.45 as of December 20, 2024.
What is the market cap of Topgolf Callaway Brands (MODG)?
The market cap of Topgolf Callaway Brands (MODG) is approximately 1.4B.
What is Topgolf Callaway Brands Corp.?
Topgolf Callaway Brands Corp. (NYSE: MODG) is a leading company in the modern golf and active lifestyle market, known for premium golf equipment, world-class golf entertainment, and lifestyle apparel.
What are the core segments of Topgolf Callaway Brands?
The core segments are Topgolf, Golf Equipment, and Active Lifestyle. The Topgolf segment contributes the majority of the revenue through service revenues from Topgolf venues and Toptracer technology.
Which brands are part of Topgolf Callaway Brands?
Topgolf Callaway Brands includes renowned brands such as Topgolf, Callaway Golf, Odyssey, TravisMathew, Jack Wolfskin, OGIO, and Toptracer.
What recent achievements has Topgolf Callaway Brands announced?
The company announced a significant increase in consolidated revenue and almost doubled Adjusted EBITDA for the fourth quarter of 2023. They also launched a new cross-brand consumer data platform and expanded their venue reach by acquiring BigShots.
What are the expectations for Topgolf Callaway Brands in 2024?
Despite potential economic challenges, the company expects further revenue growth, solid cash flow generation, and continued success with new golf equipment lines and expansion of Topgolf venues.
How has Topgolf Callaway Brands performed financially recently?
Topgolf Callaway Brands reported a 5.4% increase in net revenue for the fourth quarter of 2023, with growth across all operating segments and a significant improvement in operational efficiencies.
What strategic initiatives is Topgolf Callaway Brands focusing on?
The company is focusing on digital transformation, operational efficiencies, and expanding its market presence with new Topgolf venues and innovative product lines.
Where is the majority of Topgolf Callaway Brands' revenue derived from?
The majority of the company's revenue is derived from the United States, particularly from the Topgolf segment, which includes service revenues from Topgolf venues.
What is 'Modern Golf' according to Topgolf Callaway Brands?
'Modern Golf' refers to a dynamic and inclusive ecosystem that encompasses both on-course and off-course golf activities, driven by tech-enabled solutions and entertainment.
How can investors get in touch with Topgolf Callaway Brands?
Investors can contact Topgolf Callaway Brands through Katina Metzidakis at (760) 931-1771 or via email at invrelations@tcbrands.com.
Topgolf Callaway Brands Corp.
NYSE:MODG
MODG Rankings
MODG Stock Data
1.37B
131.76M
11.84%
89.59%
8.56%
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Sporting & Athletic Goods, Nec
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