MODG Stock - Topgolf Callaway Brands Corp.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $4.24B | $4.28B | $4.00B | $3.13B | $1.59B |
| Gross Profit | $2.65B | $2.65B | $2.41B | $1.86B | $657.60M |
| Gross Margin | 62.5% | 61.9% | 60.3% | 59.5% | 41.4% |
| Operating Income | $-1,257,200,000 | $237.70M | $256.80M | $204.70M | $-105,500,000 |
| Net Income | $-1,447,700,000 | $95.00M | $157.90M | $322.00M | $-126,900,000 |
| Net Margin | -34.1% | 2.2% | 4.0% | 10.3% | -8.0% |
| EPS | $-7.88 | $0.51 | $0.85 | $1.90 | $-1.35 |
Topgolf Callaway Brands Corp. designs, manufactures, and sells golf equipment, golf and lifestyle apparel, and other accessories. It operates through three segments: Topgolf; Golf Equipment; and Apparel, Gear and Other. The Topgolf segment operates Topgolf venues equipped with technology-enabled hitting bays, multiple bars, dining areas, and event spaces, as well as Toptracer ball-flight tracking technology; and World Golf Tour digital golf game. The Golf Equipment segment provides drivers, fairway woods, hybrids, irons, wedges and packaged sets, putters, and pre-owned golf clubs under the Callaway and Odyssey brands, as well as golf balls under the Callaway Golf and Strata brands. The Apparel, Gear and Other segment offers golf apparel and footwear; golf accessories, including golf bags, golf gloves, headwear, and practice aids under the Callaway brand; and golf and lifestyle apparel, hats, luggage and accessories, footwear, belts, facemasks, sunglasses, socks, and underwear under the TravisMathew brand. This segment also provides storage gear for sport and personal use, such as backpacks; travel, duffel, and golf bags; and storage gear accessories, as well as outerwear, headwear, and accessories under the OGIO brand. In addition, it offers outdoor apparel comprising jackets, trousers, dresses, skirts, and tops; and footwear and outdoor equipment, including packs and bags, travel bags, tents, sleeping bags, and accessories under the Jack Wolfskin brand. The company sells its products through golf retailers, sporting goods retailers, on-line retailers, mass merchants, department stores, third-party distributors, and mail order stores, as well as through its websites in the United States and approximately 120 countries. The company was formerly known as Callaway Golf Company and changed its name to Topgolf Callaway Brands Corp. in September 2022. Topgolf Callaway Brands Corp. was incorporated in 1982 and is headquartered in Carlsbad, California.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| October 17th 2025 | UBS | Initiation | Neutral | $10 |
| July 18th 2025 | Morgan Stanley | Resumed | Equal Weight | $9.5 |
| May 16th 2025 | B. Riley Securities | Resumed | Neutral | $7 |
| May 16th 2025 | B. Riley Securities | Initiation | Neutral | $7 |
| January 2nd 2025 | Jefferies | Upgrade | Buy | $13← $11 |
| October 17th 2024 | B. Riley Securities | Downgrade | Neutral | $12← $18 |
| August 29th 2024 | Jefferies | Downgrade | Hold | $12← $40 |
| August 23rd 2024 | Raymond James | Downgrade | Underperform | - |
| August 8th 2024 | BofA Securities | Downgrade | Neutral | $13← $18 |
| August 8th 2024 | KeyBanc Capital Markets | Downgrade | Sector Weight | - |
| November 9th 2023 | JP Morgan | Downgrade | Neutral | $13← $23 |
| November 9th 2023 | Stephens | Downgrade | Equal Weight | $13 |
| September 27th 2023 | Morgan Stanley | Initiation | Underweight | $12 |
| April 19th 2023 | KeyBanc Capital Markets | Initiation | Overweight | $27 |
| October 10th 2022 | B. Riley Securities | Resumed | Buy | $29 |
Earnings History & Surprises
MODGEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | May 11, 2026 | — | — | — | — |
Q1 2026 | Feb 23, 2026 | $-0.44 | — | — | — |
Q4 2025 | Nov 6, 2025 | $-0.21 | $-0.05 | +76.2% | ✓ BEAT |
Q3 2025 | Aug 6, 2025 | $0.03 | $0.24 | +700.0% | ✓ BEAT |
Q2 2025 | May 12, 2025 | $-0.04 | $0.11 | +375.0% | ✓ BEAT |
Q1 2025 | Feb 24, 2025 | $-0.40 | $-0.33 | +17.5% | ✓ BEAT |
Q4 2024 | Nov 12, 2024 | $-0.18 | $0.02 | +111.1% | ✓ BEAT |
Q3 2024 | Aug 7, 2024 | $0.27 | $0.42 | +55.6% | ✓ BEAT |
Q2 2024 | May 8, 2024 | $0.01 | $0.09 | +554.5% | ✓ BEAT |
Q1 2024 | Feb 13, 2024 | $-0.34 | $-0.30 | +11.8% | ✓ BEAT |
Q4 2023 | Nov 8, 2023 | $0.12 | $0.20 | +66.7% | ✓ BEAT |
Q3 2023 | Aug 8, 2023 | $0.33 | $0.39 | +18.2% | ✓ BEAT |
Q2 2023 | May 9, 2023 | $0.16 | $0.17 | +6.3% | ✓ BEAT |
Q1 2023 | Feb 9, 2023 | $-0.19 | $-0.27 | -42.1% | ✗ MISS |
Q4 2022 | Nov 3, 2022 | $0.18 | $0.23 | +27.8% | ✓ BEAT |
Q3 2022 | Aug 5, 2022 | $0.43 | $0.47 | +9.3% | ✓ BEAT |
Q2 2022 | May 10, 2022 | $0.24 | $0.36 | +50.0% | ✓ BEAT |
Q1 2022 | Feb 10, 2022 | $-0.28 | $-0.19 | +32.1% | ✓ BEAT |
Q4 2021 | Nov 9, 2021 | $0.09 | $0.14 | +55.6% | ✓ BEAT |
Q3 2021 | Aug 9, 2021 | $0.01 | $0.36 | +2875.2% | ✓ BEAT |
Latest News
Roth Capital Maintains Buy on Topgolf Callaway Brands, Maintains $14 Price Target
📈 PositiveTopgolf Callaway Brands to Sell 60% of Topgolf for $1.1B, Expects $770M in Net Proceeds From Deal With Leonard Green & Partners
📈 PositiveCORRECTION: Topgolf Callaway Brands shares are trading higher after reports indicating the company's Topgolf unit is in talks to be sold to Leonard Green.
📈 PositiveTopgolf Callaway Brands shares are trading higher after reports indicating the company's Topgolf unit is in talks to be sold to Leonard Green.
📈 PositiveTopgolf Callaway Brands shares are trading higher after reports indicating the company is in talks to be sold to Leonard Green.
📈 Positive'Topgolf in Talks to Be Sold to Private-Equity Firm Leonard Green; The Deal Would Value The High-tech Driving Ranges At About $1 Billion'- WSJ
📈 PositiveTopgolf Callaway Brand Extends Its Multi-Year Licensing Agreement With Perry Ellis International, Allowing Perry Ellis To Continue Designing, Manufacturing, And Distributing Callaway-Branded Golf And Lifestyle Apparel
📈 PositiveJP Morgan Maintains Neutral on Topgolf Callaway Brands, Raises Price Target to $10
➖ NeutralB. Riley Securities Reiterates Neutral on Topgolf Callaway Brands, Raises Price Target to $11
➖ NeutralTopgolf Callaway Brands shares are trading higher after the company reported better-than-expected Q3 financial results and raised its FY25 sales guidance.
📈 PositiveTopgolf Callaway Brands Non-GAAP EPS of -$0.05 beats by $0.17, revenue of $934M beats by $30.64M
📈 PositiveTopgolf Callaway Brands Sees Q4 Sales $763.000M-$803.000M vs $774.546M Est
📈 PositiveTopgolf Callaway Brands Raises FY2025 Sales Guidance from $3.800B-$3.920B to $3.900B-$3.940B vs $3.932B Est
📈 PositiveTopgolf Callaway Brands Q3 Adj. EPS $(0.05) Beats $(0.20) Estimate, Sales $934.000M Beat $905.575M Estimate
📈 PositiveTruist Securities Maintains Buy on Topgolf Callaway Brands, Raises Price Target to $12
📈 PositiveUBS Initiates Coverage On Topgolf Callaway Brands with Neutral Rating, Announces Price Target of $10
➖ NeutralFrequently Asked Questions about MODG
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