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Topgolf Callaway Brands Corp. - MODG STOCK NEWS

Welcome to our dedicated page for Topgolf Callaway Brands news (Ticker: MODG), a resource for investors and traders seeking the latest updates and insights on Topgolf Callaway Brands stock.

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.

News

Topgolf Little Rock Opens Friday, Dec. 22

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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 Lafayette Opens Friday, Dec. 15

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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 Pompano Beach Grand Opens Friday, Dec. 15

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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 ANNOUNCES THIRD QUARTER 2023 RESULTS

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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 Mobile Opens Friday, Nov. 17

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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 New Ai-ONE and Ai-ONE Milled Putters

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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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TOPGOLF CALLAWAY ACQUIRES BIGSHOTS GOLF, STRENGTHENING ITS LEADERSHIP IN OFF-COURSE GOLF

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Topgolf Callaway Brands Corp. has acquired certain assets from Invited, Inc. related to its BigShots Golf business. The acquisition adds the BigShots brand and certain locations to Topgolf's portfolio of U.S. venues, expanding its leadership position in off-course golf. The purchase price for the initial closing is approximately $29 million. The Company expects the acquisition to be nominally accretive in its first year and contribute to scaling economics thereafter.
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Topgolf Callaway Brands to Release Third Quarter 2023 Financial Results

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Topgolf Callaway Brands Corp. (NYSE: MODG) will release its Q3 2023 financial results on November 8, 2023, after the market closes. The management team will hold a conference call at 2:00 p.m. PT to discuss the results and business outlook. The call will be broadcast live on the company's website.
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Topgolf Venue No. 4 for Tennessee with the Oct. 27 Opening in Memphis

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Topgolf announces the opening of its Memphis venue on October 27th. The venue will feature 72 outdoor hitting bays, Toptracer technology, and a full-service restaurant. It will employ approximately 400 Playmakers and will be the company's 83rd outdoor venue in the U.S.
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Calling All Townies, Visitors and Everyone in Between: Topgolf Boston-Canton Opens Nov. 3

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Topgolf to open its first venue in Massachusetts on November 3.
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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 $8.5 as of November 19, 2024.

What is the market cap of Topgolf Callaway Brands (MODG)?

The market cap of Topgolf Callaway Brands (MODG) is approximately 1.6B.

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.

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Topgolf Callaway Brands Corp.

NYSE:MODG

MODG Rankings

#2174 Ranked by Market Cap
N/A Ranked by Dividends

MODG Stock Data

1.56B
131.77M
11.84%
89.57%
8.88%
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