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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.
Topgolf Callaway Brands Corp. (NYSE: MODG) announced its attendance at the Raymond James Institutional Investors Conference on March 6, 2023, in Orlando, Florida. The company is a leader in the Modern Golf and active lifestyle sector, offering a wide range of golf equipment, apparel, and entertainment. For further details, stakeholders can access the latest presentation materials from the Investor Relations section on their website. Topgolf Callaway Brands boasts a robust portfolio including brands like Callaway Golf, TravisMathew, and Toptracer.
Topgolf Callaway Brands Corp. (MODG) reported a 19.6% increase in fourth-quarter net revenue, reaching $851.3 million, with a full-year revenue of $3,995.7 million, a 27.5% rise from 2021. The Q4 seasonal operating loss improved by 36.6%, while Adjusted EBITDA surged 155.9% to $36.6 million. Despite a $37.8 million adverse foreign currency impact in Q4, the company opened 11 new venues in 2022. For 2023, revenue is projected between $4,415 million and $4,470 million, indicating 10%-12% growth. The Adjusted EBITDA outlook for 2023 ranges from $620 million to $640 million, representing an 11%-15% increase.
Topgolf Callaway Brands Corp. (NYSE: MODG) announced it will release its fourth quarter and full year 2022 financial results on February 9, 2023, post-market. A conference call will follow at 2:00 p.m. PT to discuss the results and outlook, accessible via the Company’s website. Topgolf Callaway operates a leading brand portfolio in golf equipment and lifestyle, including Topgolf, Callaway Golf, and others. This event is crucial for investors seeking insights into the Company’s financial health and future direction.
Stephen Curry and Callaway Golf have extended their partnership, focusing on initiatives to make golf accessible to underserved youth. This multi-year agreement enhances efforts initiated since 2019, including the launch of Howard University's Division 1 Golf Program and the creation of a Chrome Soft Truvis Golf Ball for the Eat. Learn. Play. Foundation. The partnership also supports Curry's UNDERRATED Golf brand, promoting diversity in the sport. Callaway aims to bring a younger audience into golf while addressing gender inequity.
Callaway Golf has announced a partnership with global music star Niall Horan, aiming to engage younger audiences in the sport. This collaboration will focus on initiatives that promote golf's accessibility and enjoyment. Horan, a passionate golfer and founder of Modest Golf, has previously worked on grassroots golf programs. Callaway's CEO expressed excitement over Horan's role in broadening golf's appeal. The partnership is expected to create content and experiences that resonate with both golf enthusiasts and new players, enhancing the game's visibility.
Callaway Golf has unveiled its new Paradym Family of Woods and Irons, promising a significant leap in golf club performance. The clubs will be available for pre-sale on January 13 and in retail stores from February 24. The product features include an innovative 360 Carbon Chassis for enhanced distance and forgiveness, and three driver models tailored for various player preferences. Pricing includes $599.99 for drivers and $200 per iron, with a standard 7-piece set priced at $1400. This launch reaffirms Callaway's commitment to innovation in golf equipment.
Topgolf Callaway Brands Corp. (NYSE: MODG) will attend the Stephens' Annual Investment Conference on November 17, 2022, in Nashville, Tennessee. The company plans to release its presentation materials before the event, accessible via its Investor Relations website. Topgolf Callaway is a leading tech-enabled modern golf and active lifestyle company, offering a diverse range of brands including Topgolf and Callaway Golf.
Topgolf Callaway Brands reported Q3 2022 net revenues of $988.5 million, up 15.4% year-over-year, primarily driven by a 24.0% increase in the Topgolf segment. The company recognized a GAAP net income of $38.5 million, a substantial increase of 340.6% compared to Q3 2021. However, GAAP income from operations saw a decrease of 10.3%. The 2023 outlook anticipates a 10% growth in revenue despite facing foreign exchange challenges estimated at $110 million.
Topgolf Callaway Brands Corp. (NYSE: MODG) will release its third quarter 2022 financial results on November 3, 2022, after market close. A conference call is scheduled for 2:00 p.m. PDT the same day to discuss the results and company outlook. Investors can access the call live via the Investor Relations section of the company's website, with a replay available shortly after the event.
Topgolf Callaway Brands is recognized for its tech-enabled Modern Golf and lifestyle offerings, featuring brands such as Callaway Golf and Topgolf.
Topgolf Callaway Brands Corp. (NYSE: MODG) announced its participation in the Goldman Sachs 29th Annual Global Retailing Conference on September 7, 2022, in New York, NY. Presentations will be accessible via the Investor Relations section of their website. The company, recognized for blending technology with golf, offers a diverse range of products and entertainment under brands like Topgolf and Callaway Golf. More details can be found on their site.
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