Topgolf Callaway Brands Ord Shs Stock Price, News & Analysis

Topgolf is set to open its fourth venue in North Carolina on September 13, 2024, located in Greensboro at 609 Guilford College Road along I-40. The two-level facility will feature 72 climate-controlled hitting bays equipped with Toptracer technology. This marks Topgolf's 102nd global outdoor venue.

The venue will employ approximately 300 Playmakers and offers a full-service restaurant, bar, and entertainment options. It includes a 28-foot video wall, over 200 HDTVs, and a private event space with a rooftop terrace. Topgolf Greensboro aims to provide a relaxed environment for both golf enthusiasts and beginners, featuring games like Block Party designed to level the playing field.

Topgolf, a modern golf entertainment leader, is set to open its first venue in Iowa on September 6, 2024. The Topgolf Des Moines facility, located at 7655 Mills Civic Parkway in West Des Moines, will be the company's 101st global outdoor venue. The two-level facility features 72 climate-controlled hitting bays equipped with Toptracer technology, a full-service restaurant and bar, and various entertainment options.

The venue will employ approximately 300 'Playmakers' and aims to make golf accessible to players of all skill levels. It offers unique games like Block Party, lessons through the Coach program, and the option to use professional-grade clubs. The facility also includes a 22-foot video wall, over 100 HDTVs, an outdoor patio, and semi-private event rooms for various gatherings.

Callaway Golf has unveiled its new line of Apex Irons, featuring the Apex Ai200, Apex Ai300, and Apex Ti Fusion models. The Ai200 and Ai300 are forged irons with Ai Smart Face technology, offering exceptional distance, feel, and spin control. The Ai200 is a players distance iron with a hollow-body design, while the Ai300 is a game-improvement iron with a cavity-back design. Both models incorporate a Forged 455 Face Cup for outstanding speed and Tour-level sound. The Apex Ti Fusion is an ultra-premium iron with an industry-first forged titanium face for increased power. All models will be available at retail starting August 23, with the Ai200 and Ai300 priced at $1,400 for a 7-piece set, and the Ti Fusion at $2,100.

Topgolf Callaway Brands reported its Q2 2024 results with a net income of $62 million, a non-GAAP net income of $83 million, and adjusted EBITDA of $206 million, all exceeding expectations. However, consolidated revenues dropped by 1.9% YoY to $1,157.8 million, leading to a downward revision in the full-year revenue outlook to $4,200-$4,260 million and adjusted EBITDA to $570-$590 million.

The company faces headwinds including high inflation and negative FX trends. Despite these, it maintained its #1 U.S. market share in various golf equipment categories. A strategic review of Topgolf is underway, considering both organic growth strategies and potential spin-offs.

Segment-wise, Topgolf revenues grew by 5% to $494.4 million, while Golf Equipment and Active Lifestyle segments saw declines of 8.2% and 3.2%, respectively.

The company made a discretionary $50 million debt repayment and saw a cash flow improvement of $173 million in the first half of the year.

Topgolf, the modern golf entertainment leader, has introduced The Sure Thing, a new golf club designed to make golf more accessible and enjoyable for novice players. Developed in collaboration with Callaway engineers, this club features an enormous club face, a 20° loft, and a shorter club shaft to increase the likelihood of hitting the ball solidly into the air.

The Sure Thing is not for sale and is exclusively available for gameplay at Topgolf venues in the United States. Topgolf CEO Artie Starrs emphasized that the club's purpose is to bring joy through more ways to play golf and help new players experience the thrill of hitting a solid shot. The company playfully mentions its proprietary 'chicken wing technology' as a unique feature of the club.

Topgolf Callaway Brands Corp. (NYSE: MODG) has announced the upcoming release of its second quarter 2024 financial results on Wednesday, August 7, 2024, after market close. The company will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day to discuss the results, business performance, and future outlook.

Investors and interested parties can access a live webcast and presentation through the Investor Relations section of the company's website at https://www.topgolfcallawaybrands.com. A replay of the event will be available online approximately two hours after its conclusion.

Callaway Staff Professional Xander Schauffele won his 2nd major of the year at The Open Championship, becoming the Champion Golfer of the Year. Schauffele carded a final round 65 at Royal Troon, using Callaway equipment including an Ai Smoke Triple Diamond Driver, Apex TCB Irons, and a Chrome Tour Golf Ball. This victory marks the 3rd major win for Callaway's Ai Smoke Triple Diamond Drivers and Chrome Tour Golf Ball family in 2024. Schauffele, who joined Callaway's Staff in 2018, is now ranked #2 in the Official World Golf Rankings. Chip Brewer, President & CEO of Topgolf Callaway Brands, expressed pride in Schauffele's rare achievement of winning multiple majors in a year.

Topgolf, a modern golf entertainment leader, has appointed Erin Chamberlin as its new Chief Operating Officer, effective July 22. Chamberlin joins from PENN Entertainment Inc., where she served as Senior Vice President of Regional Operations. In her new role, she will oversee Topgolf's globally owned and operated venue experience, including Player experience, operational excellence, technology, food and beverage innovation, and supply chain operations.

Chamberlin brings over 20 years of experience in operating large, consumer-facing organizations in competitive markets. At PENN, she managed nine casinos, supervised horse racing operations, and chaired the PENN Women resource group. Her previous roles include leadership positions at Caesars Entertainment properties.

Topgolf CEO Artie Starrs expressed confidence in Chamberlin's expertise and alignment with the brand's playful spirit. Chamberlin, a Topgolf Player herself, looks forward to applying her gaming entertainment experience to the modern golf space.

Callaway Golf has unveiled its new Opus and Opus Platinum Wedges, featuring innovative Spin Gen Face Technology. This technology combines a tighter groove pitch, offset groove-in-groove design, and aggressive face blast to deliver exceptional spin and control. The wedges boast Tour-validated shapes with a higher toe peak, radius in the leading edge, and easier hosel transitions.

Opus Wedges offer various sole shapes and grinds, including S, W, C, and T grinds. They come in Brushed Chrome and Black Shadow finishes, with a raw version available for custom orders. Opus Wedges will be available from July 26th at $179.99 each.

The Opus Platinum Wedges, available from August 16th at $229.99 each, feature metal injection molding (MiM) construction and tungsten in the topline for improved launch control and feel.