Look for Topgolf Callaway Brands (NYSE: MODG) on Aug. 12 to launch its new Apex line of irons.
“This is our most premium line of irons, and the product is both beautiful and innovative,” company President Chip Brewer told Wall Street analysts. I’m particularly excited about the new tie Fusion technology that will be introduced as part of this exciting new lineup.”
Topgolf Callaway Brands revised its second-half 2024 equipment revenues down by approximately two percent – or $55 million. Brewer said the revision “reflects the potential” for further slowing consumer activity in this year’s second half.
“However,” Brewer said,” we believe we can manage expenses to offset the majority of any bottom-line impact of this modest revenue adjustment in our products business.”
Topgolf Callaway Brands reported six-month equipment sales of $864 million, compared to $894 million in the same period in 2023.
The company reported golf equipment earnings of $77 million, a 20% decrease year over year due to lower revenue, higher air freight costs, and foreign exchange headwinds, which were partially offset by management of operating expenses.
The History of the Apex Irons
The Callaway Apex series of irons has a rich history, dating back to the 1970s when it was originally introduced under the Ben Hogan brand.
- Ben Hogan Era (1970s-1990s): The Apex name was first associated with a line of Hogan clubs known for their quality and performance. After Callaway acquired the Hogan brand in the early 2000s, both the “Hogan” and “Apex” names were retired for a time.
- Callaway Revival (2013-Present): Callaway revived the Apex name in 2013, reintroducing it as a line of irons aimed at better players seeking feel, feedback, and workability. The Apex series has since become a staple in Callaway’s lineup, evolving with each generation to incorporate new technologies and designs while maintaining its focus on performance and playability.
