Topgolf Callaway Q2 2024 Earnings Report
Key Takeaways
Topgolf Callaway Brands reported a decrease in consolidated revenues by 1.9% year-over-year, but Q2 Net Income of $62 million, Non-GAAP Net Income of $83 million, and Adjusted EBITDA of $206 million exceeded expectations. The company is conducting a strategic review of Topgolf, exploring options to enhance shareholder value, including organic growth strategies and a potential spin-off.
Net income, non-GAAP net income, and adjusted EBITDA surpassed expectations.
Consolidated revenues decreased by 1.9% year-over-year.
Full-year revenue and adjusted EBITDA outlook lowered.
Strategic review of Topgolf is underway, considering organic and inorganic alternatives.
Topgolf Callaway
Topgolf Callaway
Topgolf Callaway Revenue by Geographic Location
Forward Guidance
Topgolf Callaway Brands provided its outlook for the full year 2024, anticipating net revenues between $4,200 million and $4,260 million, and adjusted EBITDA between $570 million and $590 million. They also provided guidance for Q3 2024, expecting net revenues of $970 - $990 million and adjusted EBITDA of $95 - $105 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income