Shares of Topgolf Callaway (MODG 16.17%) rocketed 11.3% higher on Monday, as of 1:16 p.m. ET.The company, which owns the Callaway golf club and ball brand, as well as Topgolf driving range restaurants, rose on a disclosure that an insider purchased a significant amount of stock on the open market last week.With the stock having been cut in half over the past year and 83% off its 2021 all-time highs, investors might have seen the insider buy as a sign the stock is bottoming.Adebayo Ogunlesi, Topgolf Callaway ...

Sports entertainment, equipment and apparel stock Topgolf Callaway Brands surged on Monday after a high-profile corporate director bought shares in the company.The moves comes after board member Adebayo Ogunlesi purchased about $2.5 million worth of shares last week, disclosed in a securities filing on Friday.Purchases by corporate executives and directors can sometimes be seen as a vote of confidence in the company, and this purchase comes from an insider with the type of resume that Wall Street likes.Ogun ...

The venue will be located along Route 46 near the intersection of I-80 and I-280DALLAS, June 5, 2025 /PRNewswire/ -- Topgolf announced today that it broke ground on a three-level venue in Parsippany, New Jersey, which is set to open in the summer of 2026. This will be Topgolf's third venue in the state, joining existing locations in Mount Laurel and Edison.The Basics Topgolf Parsippany is set to open in the summer of 2026. If you've never been to a Topgolf venue before, think of it as a modern golf e ...

Here's the gist: Every day of the week, Players across the country can cash in on value offers specific to their markets: Sunday Funday, Half-Off Golf Monday through Thursday, and Topgolf Nights on Friday and Saturday. Players can expect reduced hourly game play fees and a bevy of affordable food and beverage options priced with the group in mind. Here's what's teeing off: The Value Lineup Half-Off Golf: That's right – 50% off golf all day long this summer only, Monday through Thursday in all U.S. venues (e ...

Core Insights - Topgolf Callaway Brands Corp. has successfully completed the sale of its Jack Wolfskin business to ANTA Sports for $290 million, subject to customary closing adjustments [1][2] - The transaction, effective May 31, 2025, marks a significant milestone for the company as it refocuses on its core businesses and enhances financial flexibility ahead of the planned separation of Topgolf from its core operations [2][3] - The President and CEO of Topgolf Callaway Brands expressed confidence in ANTA Sports to maintain the integrity of the Jack Wolfskin brand and acknowledged the contributions of Jack Wolfskin employees [3] Company Overview - Topgolf Callaway Brands Corp. is a tech-enabled Modern Golf and active lifestyle company, offering golf equipment, apparel, and entertainment, with a portfolio that includes Topgolf, Callaway Golf, TravisMathew, Odyssey, and OGIO [4]

Core Insights - Topgolf Callaway Brands Corp. (MODG) reported first-quarter 2025 results with earnings and revenues exceeding the Zacks Consensus Estimate, although total revenues declined year over year by 4.5% [1][4] - The company is divesting its Jack Wolfskin business to focus on core operations, improve resource allocation, and strengthen its balance sheet and liquidity [2] - Management remains optimistic about maintaining full-year revenue and adjusted EBITDA guidance, supported by a strong start to the year and favorable currency trends [3] Financial Performance - Adjusted earnings per share (EPS) for Q1 2025 was 11 cents, surpassing the Zacks Consensus Estimate of 4 cents, compared to 8 cents in the prior-year quarter [4] - Total revenues reached $1.09 billion, beating the consensus estimate by 3.1% [4] - Adjusted net income for the quarter was $20.3 million, up from $14.4 million in the prior-year quarter [8] Segment Performance - **Topgolf Segment**: Revenues were $393.7 million, down 6.8% from $422.8 million year-over-year, with an operating loss of $11.9 million compared to an income of $2.9 million in the prior-year quarter [5] - **Golf Equipment Segment**: Revenues were $443.7 million, a slight decline of 0.3% from $449.9 million year-over-year, with operating income increasing to $101.6 million from $82.1 million [6] - **Active Lifestyle Segment**: Revenues were $254.9 million, down 4.7% from $271.5 million year-over-year, attributed to the downsizing of the Jack Wolfskin business, though partially offset by growth in China [7] Cost Management and Outlook - Total costs and expenses for Q1 2025 were $1.03 billion, down from $1.08 billion in the prior-year period [8] - For Q2 2025, the company expects revenues between $1.075 billion and $1.115 billion, with adjusted EBITDA projected between $139 million and $159 million [11] - For the full year 2025, revenues are anticipated to be in the range of $4 billion to $4.19 billion, with Topgolf revenues expected between $1.68 billion and $1.79 billion [12]

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Topgolf Callaway Brands (MODG) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 375%. A quarter ago, it was expected that this maker of golf equipment and accessories would post a loss of $0.40 per share when it actually produced a loss of $0.33, delivering a surprise of 17.5 ...

Topgolf Callaway Brands (MODG) Q1 2025 Earnings Call May 12, 2025 05:00 PM ET Company Participants Katina Metzidakis - Vice President of Investor Relations & Corporate CommunicationsChip Brewer - President and CEOArtie Starrs - CEOBrian Lynch - Executive VP, Chief Legal Officer & CFOMichael Swartz - Director - Equity ResearchMegan Clark - Independent Non-Executive DirectorJohn-Paul Wollam - Equity Research AssociateJoe Altobello - Managing Director Conference Call Participants Matt Boss - Equity Research An ...

Financial Data and Key Metrics Changes - Consolidated revenues for Q1 2025 were $1,090 million, a decrease of 5% year over year, primarily due to lower Topgolf same venue sales and unfavorable foreign currency rates [40] - Q1 adjusted EBITDA increased by 4% to $167 million, driven by improved profitability in the golf equipment and active lifestyle segments [40] - Available liquidity increased by $85 million to $805 million as of March 31, 2025, due to increased cash compared to Q1 2024 [43] Business Line Data and Key Metrics Changes - Topgolf Q1 revenue decreased by 7% year over year, attributed to lower same venue sales and the sale of the World Golf Tour business [41] - Golf equipment revenue decreased by 1% to $444 million, but operating income increased by 24% to $102 million due to improved gross margins and cost savings [42] - Active Lifestyle segment revenue decreased by $17 million to $255 million, primarily due to the planned rightsizing of the Jack Wolfskin business [42] Market Data and Key Metrics Changes - U.S. rounds played were up 3.8% in March, but down slightly year to date, reflecting weather impacts [15] - Same venue sales at Topgolf were down approximately 12% for Q1, with corporate events down 13% [26] - The consumer base for Topgolf has an average income of approximately $100,000, indicating a relatively affluent target market [18] Company Strategy and Development Direction - The company announced the sale of Jack Wolfskin to ANTA Sports, allowing for greater business focus and financial flexibility [7] - Topgolf is implementing strategic initiatives to reset its value perception while maintaining a premium brand image [19] - The company is actively pursuing various alternatives for the separation of Topgolf, including a sale or spin-off, targeting the second half of the year for completion [45][46] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the demand side due to a slowing consumer environment, but noted that golf equipment has historically been resilient during mild recessions [10] - The company is optimistic about its ability to navigate current macroeconomic challenges, including tariffs and consumer spending pressures [50] - Management maintained full-year guidance despite the anticipated impact of the Jack Wolfskin sale and current tariffs [49] Other Important Information - The company expects to see a decline in Topgolf same venue sales guidance to down 6% to 12% for the year [22] - Adjusted EBITDA guidance for Topgolf remains at $240 million to $300 million, supported by ongoing cost savings initiatives [49] - The company is testing new value offerings and enhancing customer experience to drive traffic growth [34] Q&A Session Summary Question: Any change in the industry backdrop for the core golf equipment business? - Management noted that the golf consumer remains strong, and the outlook for the golf business is positive with no material changes [56] Question: How much do you attribute the softening at Topgolf to macro factors versus competition? - Management indicated that corporate spending pressure is a direct macro impact, while the consumer remains price sensitive [58] Question: How do you plan to manage venue-level cost structure going forward? - Management expressed confidence in long-term venue margins, emphasizing ongoing investments in value while maintaining player experience [66] Question: What is the impact of the Easter shift on business? - Management acknowledged a shift in events due to Easter but did not consider it material to their guidance [69] Question: Can you provide an update on cost savings and their impact? - Management confirmed that proactive cost savings have been beneficial, allowing them to hold guidance despite challenges [72] Question: How much of the Topgolf same venue sales reduction was due to April trends? - Management stated that the primary driver was the outlook on events, with improved traffic trends in the walk-in business [81] Question: Is there a value orientation program for the events business? - Management is offering more local flexibility in the events business to compete effectively, but noted that corporate spending is currently under pressure [99]