Topgolf Callaway Brands Ord Shs Stock Price, News & Analysis

Topgolf has broken ground on a new three-level venue in Woodbury, Minnesota, scheduled to open in late 2025. This will be the company's second location in Minnesota, complementing the existing venue in Minneapolis-Brooklyn Center. The new facility will feature 102 outdoor climate-controlled hitting bays equipped with Toptracer technology, a full-service restaurant and bar, over 140 HDTVs, fire pits, and a private event space with rooftop terrace. The venue, located near I-494 and I-94, will create approximately 350-400 jobs and aims to provide a modern golf experience suitable for players of all skill levels.

Topgolf and SEGA have partnered to launch Topgolf Sonic the Hedgehog, an exclusive new game available at all U.S. Topgolf venues and Glasgow starting November 15, 2024. The game combines Topgolf's Toptracer ball-tracing technology with Sonic's virtual environments, allowing players to hit springs, collect rings, and destroy badniks in Green Hill Zone and Sky Sanctuary. Players can access 30 minutes of free play time through a promotional code. The launch includes an integrated advertising campaign across streaming, digital, and social channels, plus exclusive merchandise featuring Sonic-themed apparel. Global expansion to Toptracer-enabled franchise venues is planned for Q1 2025.

Topgolf Callaway Brands (NYSE: MODG) reported Q3 2024 results with revenues of $1.01 billion, down 2.7% year-over-year, and Adjusted EBITDA of $119.8 million, down 26.6%. The company lowered its full-year 2024 revenue guidance to approximately $4.2 billion and Adjusted EBITDA to $560-570 million. Topgolf segment showed 1.2% revenue growth but experienced an 11% decline in same-venue sales. The company maintained its #1 position in U.S. golf clubs market share and achieved record U.S. golf ball market share. Available liquidity strengthened to $863 million, up $129 million year-over-year. The company continues to pursue plans to separate Topgolf from the core business to create shareholder value.

Topgolf Callaway Brands (NYSE: MODG) announced it will release its third quarter 2024 financial results on Tuesday, November 12, 2024, after market close. The company will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results, business updates, and outlook. Investors can access the live webcast and presentation through the Investor Relations section of the company's website, with a replay available online approximately two hours after the event.

Topgolf Callaway Brands (NYSE: MODG) has released its 2022-2023 Sustainability Report, highlighting progress across four key areas: People, Planet, Product, and Procurement. The report showcases the company's achievements in environmental stewardship and sustainable business practices.

Key highlights include: increasing renewable energy consumption to 60% at their Carlsbad headquarters, strengthening community partnerships to promote diversity in golf, reducing single-use plastics in club shipments, and enhancing supplier accountability through regular audits. The company has expanded its use of recycled materials and implemented waste reduction initiatives across global facilities.

CEO Chip Brewer emphasized the company's commitment to driving impactful changes for a more sustainable future.

Topgolf announced the opening of its fourth Ohio location in Akron on November 8, 2023, at the former BigShots Golf Firestone site. The venue features 44 outdoor climate-controlled hitting bays across two levels, equipped with Toptracer technology for tracking ball metrics. To celebrate the opening, Topgolf is offering half-price gameplay from November 8-21. The facility will employ approximately 100 staff members and includes a full-service restaurant, private event rooms, and various gaming options including the new Block Party game. The venue will honor BigShots Golf Firestone gift cards and offers year-round half-price gameplay every Tuesday.

Topgolf has broken ground on a new two-level venue in New Braunfels, Texas, set to open in late 2025. Located at 427 Creekside Way in the New Braunfels Town Center at Creekside, this will be Topgolf's 14th venue in Texas. The facility will feature 62 outdoor climate-controlled hitting bays equipped with Toptracer technology, a full-service bar and restaurant, a 216-square-foot video wall, over 140 HDTVs, mini golf, and an outdoor area with yard games and fire pits. The venue aims to provide a modern golf experience suitable for both beginners and experienced players in a relaxed environment. Once operational, it will employ approximately 200 Playmakers.

Topgolf announced the opening of Topgolf Bryan on Oct. 18, 2024, in the former BigShots venue at 400 W. Villa Maria Road in Travis Bryan Midtown Park. This marks the first BigShots transition since Topgolf Callaway Brands Corp. acquired four domestic BigShots venues in November 2023. The new venue features 60 outdoor climate-controlled hitting bays across two levels, equipped with Toptracer technology.

To celebrate its arrival, Topgolf Bryan is offering half-price gameplay from Oct. 18 through Oct. 31. The venue will employ approximately 100 Playmakers and includes amenities such as a full-service restaurant, private event rooms, an outdoor patio, and mini golf. Players can enjoy six game options, virtual courses, and Topgolf's newest game, Block Party. The venue will also honor BigShots Bryan gift cards and offer half-price gameplay every Tuesday year-round.

Topgolf and Topgolf Callaway Brands Corp. (NYSE: MODG) have launched Topgolf Shop, a beginner-friendly golf equipment website. The site offers Callaway golf clubs, balls, and accessories tailored for new golfers, aiming to make the transition from Topgolf venues to actual courses easier. With only 25% of beginner golfers staying in the game long-term, Topgolf Shop addresses the challenge of finding appropriate equipment for newcomers.

The website features a simple survey to guide players through gear recommendations, access to booking lessons or reserving bays at Topgolf venues, and a straightforward navigation for individual product purchases. The initial product lineup includes Callaway Complete Golf Club Sets for various demographics, golf balls, gloves, and tees. Additional offerings, including special edition items and Topgolf-branded accessories, will be rolled out by year-end.