Topgolf Callaway Brands Earnings

by | Feb 13, 2024 | Business

Topgolf Callaway Brands (MODG: NYSE) this afternoon (2/13) reported Q4 2023 earnings of $877 million, a 5.4 percent increase versus Q4 of 2022. The company reported a Q4 loss of $77 million compared to a loss of nearly $73 million in Q4 of ‘22.

For the entire year, Topgolf Callaway reported revenue of $4.3 billion, a seven percent increase compared the ‘22. The company reported earnings of $95 million in 2023 versus $158 million in ‘22.

The company reported revenue in Q4 2022 grew across each of its operating segments. More specifically, revenue grew 7% at Topgolf, 5% in the Golf Equipment segment, and 3% in the Active Lifestyle segment.

Topgolf Callaway typically reports an operating loss in the fourth quarter due to the seasonality of its businesses. The company beat Wall Street’s expectations Q4 revenue and earnings. Its stock price closed today at $13.53 per share (before the earnings report) after opening at $13.51.

In Q4, Topgolf’s revenue increased $29.5 million ( 7.2%) to $439.0 million compared to Q4 of 2022. Topgolf finished 2023 the the company’s leading operating segment in terms of revenue – $1.76 billion – an increase of nearly 14 percent versus ‘22.

Despite its Q4 ‘23 growth to $199 million Topgolf Callaway’s equipment segment dropped one percent to $1.38 billion.


About the Author

<a href="" target="_self">Steve Pike</a>

Steve Pike

Steve “Spike” Pike is a lifelong journalist whose career covers Major League Baseball, the NFL, and college basketball. For the past 26 years, Spike has been one of the more respected voices in the golf and travel industries, working for such publications as Golfweek, Golf World, and Golf Digest for The New York Times Magazine Group. In 1998, Spike helped launch the website for the PGA of America. As a freelance travel and golf writer, Spike’s travels have taken him around the world. He has played golf from Pebble Beach to St. Andrews, walked the Great Wall of China, climbed an active volcano in the Canary Islands, been on safari in South Africa, and dived with sharks off Guadalupe, Baja California.