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Sep 30, 2024
Topgolf Callaway Q3 2024 Earnings Report
Topgolf Callaway Brands' Q3 2024 results exceeded expectations, with Callaway maintaining its #1 position in U.S. golf club market share and achieving record U.S. golf ball market share.
Key Takeaways
Topgolf Callaway Brands announced Q3 2024 results that exceeded expectations, driven by strong venue profitability at Topgolf and Callaway's leading position in golf clubs and balls. The company reaffirmed its expectation for full year positive Adjusted Free Cash Flow for the total Company and Topgolf.
Q3 Consolidated Revenues and Adjusted EBITDA were ahead of expectations.
The Callaway brand maintained its #1 position in U.S. market share in total golf clubs and achieved record U.S. market share in golf ball.
The Company further strengthened its available liquidity position to $863 million, increasing $129 million year-over-year.
The Company reaffirmed its expectation for full year positive Adjusted Free Cash Flow for the total Company and Topgolf.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The Company lowered full year 2024 revenue guidance to approximately $4.2 billion and Adjusted EBITDA to a range of $560 to $570 million. The Company maintained prior Topgolf revenue guidance of approximately $1.79 billion and increased Topgolf Adjusted EBITDA guidance to approximately $315 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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