Welcome to our dedicated page for Topgolf Callaway Brands Ord Shs news (Ticker: MODG), a resource for investors and traders seeking the latest updates and insights on Topgolf Callaway Brands Ord Shs stock.
Topgolf Callaway Brands Corp. (NYSE: MODG) generates a steady flow of news related to its Modern Golf and active lifestyle focus, its portfolio of golf brands and its capital markets activity. Company announcements cover topics such as strategic transactions, product launches, licensing agreements, financial results and developments at Topgolf venues.
Recent news includes the completion of the sale of a 60% stake in the Topgolf and Toptracer businesses to an affiliate of Leonard Green & Partners, L.P., along with related debt repayment and a new stock repurchase authorization. The company has also communicated its intention to change its corporate name back to Callaway Golf Company and to update its New York Stock Exchange ticker symbol from MODG to CALY, as well as providing quarterly financial results and updated guidance through press releases and investor calls.
From an operating perspective, news items highlight the performance of the Golf Equipment and Active Lifestyle segments, including commentary on demand for golf equipment and the impact of tariffs. Brand-focused updates include the introduction of new Callaway Golf Chrome Tour, Chrome Tour X and Chrome Soft golf balls, which the company describes as incorporating a Tour Fast Mantle, Seamless Tour Aero design and a Tour urethane cover, and the extension of the Callaway Apparel licensing agreement with Perry Ellis International through 2032.
Topgolf-branded announcements feature new venue openings and groundbreakings, such as the Woodbury, Minnesota venue and the first Wisconsin venue in Monona, as well as marketing campaigns like the "Holiday Help" office party promotion. Investors and golf enthusiasts following MODG news can use this page to review company communications on strategic transactions, segment performance, product introductions and the evolution of the Modern Golf ecosystem.
Topgolf announced an eight-year partnership with PepsiCo, starting May 15, 2024, to supply beverages across its U.S. venues. The rollout will be completed by June 2024. Topgolf players will get access to a variety of PepsiCo beverages, including Pepsi, MTN DEW, and Gatorade.
The partnership includes unique player experiences and a major giveaway: one person will win eight years of free Topgolf play and PepsiCo beverages, and 100 others will win $25 game play cards and Pepsi-Cola product credits.
This summer, a Topgolf Summer of Play Delivery Truck will travel the country, offering prizes and Pepsi-branded swag at key stops. The partnership aims to deliver exclusive crafted beverages and unforgettable experiences for players.
Topgolf Callaway Brands Corp. announced strong Q1 2024 results with revenue of $1.144 billion, net income of $7 million, and Adjusted EBITDA of $161 million. The company achieved #1 market share in Ai Smoke clubs and Chrome Tour golf balls. Additionally, they repriced term loans, repurchased shares, and plan to pay down $50 million debt. Despite revenue guidance adjustment due to currency volatility, the company is confident in bottom-line improvement and increased EPS and cash flow.
Topgolf Callaway Brands Corp. (NYSE: MODG) will release its first quarter 2024 financial results on May 8, 2024. Management will discuss the results and business outlook in a conference call. The Company's management team will also participate in upcoming conferences, including the KeyBanc Capital Markets Virtual Consumer Leisure Spotlight on May 20 and the B. Riley Annual Institutional Investor Conference on May 22.
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