Morsa Images/DigitalVision via Getty Images Summary Following my coverage of Topgolf Callaway Brands Corp. (NYSE:MODG) in May'24, for which I recommended a buy rating as the business was progressing well, which, I thought, would enable MODG to beat the FY24 guidance, this post is to provide an update on my thoughts on the business and stock. I revised my rating from buy to sell as I have lost confidence in MODG's ability to drive positive SVS growth in the near term, especially since all the initiatives imp ...

Photographer: Kent Nishimura/Bloomberg © 2024 Bloomberg Finance LP Deal Overview On August 7, 2024, Topgolf Callaway Brands Corp. (NYSE: MODG, $11.73, Market Capitalization: $2.2 billion), a prominent player in golf equipment and entertainment, announced that it is conducting a formal strategic review of its businesses, wherein the management is exploring a potential spin-off the Topgolf segment (for more information, visit spinoffresearch.com). This review includes the assessment of organic strategies to r ...

Topgolf Callaway Brands Corp (NYSE:MODG) Q2 2024 Results Conference Call August 7, 2024 5:00 PM ET Company Participants Katina Metzidakis - VP, IR & Corporate Communications Chip Brewer - President & Chief Executive Officer Brian Lynch - Chief Financial Officer & CLO Conference Call Participants Alex Perry - Bank of America Matthew Boss - JPMorgan Eric Wold - B. Riley Securities Megan Alexander - Morgan Stanley Joseph Altobello - Raymond James Operator Good day, and welcome to the Topgolf Callaway Brands Se ...

Poor comp sales and lowered guidance caused the stock to crumble yet again. Shares of Topgolf Callaway Brands (MODG -6.35%) slipped close to 25% this week, according to data from S&P Global Market Intelligence. The owner of Callaway, Topgolf, and TravisMathew posted weak growth for the second quarter of 2024. Suffering for many years, the stock is now down 20% year to date and 33% over the last 12 months. Here's why Topgolf Callaway stock fell yet again this week. Lower Topgolf traffic, guidance reduction T ...

Topgolf Callaway Brands (MODG) reported $1.16 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 1.9%. EPS of $0.42 for the same period compares to $0.39 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $1.19 billion, representing a surprise of -2.67%. The company delivered an EPS surprise of +50.00%, with the consensus EPS estimate being $0.28. While investors closely watch year-over-year changes in headline numbers -- revenue and earnin ...

Topgolf Callaway Brands (MODG) came out with quarterly earnings of $0.42 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.39 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 50%. A quarter ago, it was expected that this maker of golf equipment and accessories would post earnings of $0.01 per share when it actually produced earnings of $0.09, delivering a surprise of 800%. Over ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 York Stock Exchange 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, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period to Commission file numb ...

Exhibit 99.1 TOPGOLF CALLAWAY BRANDS ANNOUNCES SECOND QUARTER 2024 RESULTS Announces Formal Strategic Review of Topgolf Including Organic and Inorganic Alternatives HIGHLIGHTS • Q2 Net Income of $62 million, Non-GAAP Net Income of $83 million, and Adjusted EBITDA of $206 million were all ahead of expectations. • Q2 Consolidated Revenues were down 1.9% year-over-year and full year Revenue and Adjusted EBITDA outlook lowered to a range of $4,200 - $4,260 million and $570 - $590 million, respectively. • Mainta ...

Announces Formal Strategic Review of Topgolf Including Organic and Inorganic Alternatives HIGHLIGHTS Q2 Net Income of $62 million, Non-GAAP Net Income of $83 million, and Adjusted EBITDA of $206 million were all ahead of expectations. Q2 Consolidated Revenues were down 1.9% year-over-year and full year Revenue and Adjusted EBITDA outlook lowered to a range of $4,200 - $4,260 million and $570 - $590 million, respectively. Maintained #1 U.S. model market share in Driver, Fairway Woods and Irons with Ai Smoke ...

Enter Topgolf's The Sure Thing club, designed in collaboration with Callaway engineers and made for the everyday, "just want to feel the thrill of hitting a golf ball" Player. Not for sale and only available for gameplay at Topgolf, The Sure Thing is equipped with features that basically guarantee your golf swing, is, well, a sure thing: Enormous club face: A larger club face means a better chance of making contact with the ball, resulting in less whiffs and more hits. 20° loft: Real talk – all that means i ...