Topgolf Callaway reports Q2 adjusted EPS 42c, consensus 27c

Reports Q2 revenue $1.16B, consensus $1.19B. “Despite macro headwinds including the cumulative impact of negative FX trends, persistently high inflation and recent softer-than-expected traffic to our Topgolf venues, I am incredibly proud of our team’s ability to drive market share gains in our products business as well as the continued strengthening of the digital capabilities and fundamental venue profitability at Topgolf,”commented Chip Brewer, President and Chief Executive Officer of Topgolf Callaway Brands. “TravisMathew continues to gain market share and grow its highly profitable direct to consumer business with 10 stores opening this year. Jack Wolfskin successfully rightsized its operations to focus on key markets in Central Europe and China. And our Golf Equipment results remain strong, especially in the U.S. market, where our club market share continues to lead the industry and our ball share continues to grow. The successful rebranding and redesign of our premium Chrome Tour family of balls highlights our excellence in R&D and commitment to innovation.”