Topgolf Callaway reports Q2 EPS 39c, consensus 34c

Reports Q2 revenue $1.18B, consensus $1.19B. “Our solid second quarter results were driven by strong performance across all business segments, and I am particularly pleased with market share gains in Golf Equipment and the continued strength of Topgolf’s venue business,” commented Chip Brewer, President and Chief Executive Officer of Topgolf Callaway Brands. “Excitement around the game of golf remains strong with positive rounds played, strength in consumables, particularly golf balls, and an engaged Modern Golf consumer. Looking ahead, we believe that our unique and attractive portfolio of leading brands continues to be very well-positioned to benefit from the sustained momentum in both off-course and on-course golf. We continue to track ahead of our long-term performance targets for the business and remain confident in delivering positive free cash flow for Topgolf and the total Company in 2023.”