Earnings summaries and quarterly performance for Topgolf Callaway Brands.
Executive leadership at Topgolf Callaway Brands.
Oliver G. (Chip) Brewer III
Detailed
President and Chief Executive Officer
CEO
BP
Brian P. Lynch
Detailed
Executive Vice President, Chief Financial Officer and Chief Legal Officer
GF
Glenn F. Hickey
Detailed
Executive Vice President and President, Callaway Golf
HD
Heather D. McAllister
Detailed
Senior Vice President, General Counsel and Corporate Secretary
MF
Mark F. Leposky
Detailed
Executive Vice President and Chief Supply Chain Officer
Board of directors at Topgolf Callaway Brands.
AO
Adebayo O. Ogunlesi
Detailed
Director
AS
Anthony S. Thornley
Detailed
Director
BM
Bavan M. Holloway
Detailed
Director
CM
C. Matthew Turney
Detailed
Director
EJ
Erik J Anderson
Detailed
Vice Chairperson of the Board
JF
John F. Lundgren
Detailed
Chairperson of the Board
LB
Linda B. Segre
Detailed
Director
RL
Russell L. Fleischer
Detailed
Director
VR
Varsha R. Rao
Detailed
Director
Research analysts who have asked questions during Topgolf Callaway Brands earnings calls.
JA
Joseph Altobello
Raymond James & Associates, Inc.
4 questions for MODG
Also covers: BC, BRCC, CWH +16 more
MB
Matthew Boss
JPMorgan Chase & Co.
3 questions for MODG
Also covers: , AEO, ANF +38 more
Alexander Perry
Bank of America
2 questions for MODG
Also covers: COLM, CWH, FOXF +10 more
CA
Casey Alexander
Compass Point Research & Trading, LLC
2 questions for MODG
Also covers: ARCC, BBDC, BXSL +14 more
Megan Christine Alexander
Morgan Stanley
2 questions for MODG
Also covers: BC, CAG, COOK +15 more
Michael Swartz
Truist Securities
2 questions for MODG
Also covers: BC, CWH, FOXF +11 more
Noah Zatzkin
KeyBanc Capital Markets
2 questions for MODG
Also covers: BC, CWH, GOLF +9 more
EW
Eric Wold
B. Riley Securities
1 question for MODG
Also covers: AMC, BOWL, CNK +14 more
John-Paul Wollam
Roth Capital Partners, LLC
1 question for MODG
Also covers: GENK, GOLF, KRUS +3 more
LH
Lucas Hudson
Bank of America
1 question for MODG
Also covers: GOOS, PLNT
MB
Matt Boss
JPMorgan Chase & Co.
1 question for MODG
Also covers: ANF, BURL, CCL +10 more
Megan Clapp
Morgan Stanley
1 question for MODG
Also covers: BRBR, CAG, CPB +14 more
SG
Simeon Gutman
Morgan Stanley
1 question for MODG
Also covers: AAP, ACI, ARHS +32 more
Recent press releases and 8-K filings for MODG.
Topgolf Callaway Brands announces sale of majority stake in Topgolf business
MODG
M&A
- Topgolf Callaway Brands has signed a definitive agreement to sell a 60% stake in its Topgolf and Toptracer businesses to Leonard Green & Partners.
- The transaction values Topgolf at approximately $1.1 billion and is expected to result in net proceeds of approximately $770 million to Topgolf Callaway Brands at closing.
- Topgolf Callaway Brands will retain a 40% equity stake in Topgolf, along with a strategic marketing agreement to continue as Topgolf's exclusive golf equipment partner.
- The company plans to use the proceeds to significantly reduce debt and return capital to shareholders, while also sharpening its focus on its core golf equipment and active lifestyle businesses.
- The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and customary conditions.
Nov 19, 2025, 1:30 AM
Topgolf Callaway Brands Announces Sale of Majority Stake in Topgolf Business
MODG
M&A
New Projects/Investments
- Topgolf Callaway Brands has signed a definitive agreement to sell a 60% stake in its Topgolf and Toptracer businesses to Leonard Green & Partners.
- The transaction values Topgolf at approximately $1.1 billion and is expected to result in net proceeds of approximately $770 million for Topgolf Callaway Brands at closing.
- Topgolf Callaway Brands will retain a 40% equity stake in Topgolf and continue as its exclusive golf equipment partner.
- The company expects the transaction to close in the first quarter of 2026 and plans to use the proceeds to significantly reduce debt and return capital to shareholders, aiming for a zero or minimal net debt position for the remaining company.
- The remaining brand portfolio will consist of Callaway, Odyssey, TravisMathew, and OGIO, which together generated over $2 billion in revenue over the last 12 months through Q3 2025.
Nov 19, 2025, 1:30 AM
Topgolf Callaway Brands announces sale of majority stake in Topgolf business
MODG
M&A
Debt Issuance
New Projects/Investments
- Topgolf Callaway Brands has signed a definitive agreement to sell a 60% stake in its Topgolf and Toptracer businesses to Leonard Green & Partners.
- The transaction values Topgolf at approximately $1.1 billion and is expected to result in net proceeds of approximately $770 million to Topgolf Callaway Brands at closing.
- Topgolf Callaway Brands will retain a 40% equity stake in Topgolf and a strategic marketing agreement, continuing as Topgolf's exclusive golf equipment partner.
- The company plans to use the proceeds to significantly reduce debt and return meaningful capital to shareholders, while also reinvesting in its core golf equipment and active lifestyle businesses.
- The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals and customary conditions.
Nov 19, 2025, 1:30 AM
Topgolf Callaway Brands announces agreement to sell majority stake in Topgolf business
MODG
M&A
New Projects/Investments
Share Buyback
- Topgolf Callaway Brands (MODG) has agreed to sell a 60% stake in its Topgolf and Toptracer business to private equity funds managed by Leonard Green & Partners, L.P., valuing Topgolf at approximately $1.1 billion.
- The company expects to receive approximately $770 million in net proceeds from the sale, while retaining a 40% stake in Topgolf.
- Expected to close in the first quarter of 2026, this transaction supports a strategic focus on the Golf Equipment & Active Lifestyle platform (Callaway, Odyssey, TravisMathew, Ogio), which generated approximately $2 billion in revenue over the last twelve months through Q3 2025. Post-transaction, the company plans to change its name to Callaway Golf Company and its ticker symbol to CALY.
Nov 18, 2025, 11:30 AM
Topgolf Callaway Brands Reports Q3 2025 Results, Raises Full-Year Guidance
MODG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Topgolf Callaway Brands reported Q3 2025 consolidated revenues of $934 million, a 3% increase year-over-year, and adjusted EBITDA of $115 million, a $4 million decrease year-over-year, impacted by $12 million in incremental tariffs.
- The company raised its full-year 2025 revenue guidance to $3.90 to $3.94 billion and adjusted EBITDA guidance to $490 million to $510 million, citing better-than-expected Q3 results and an improved outlook.
- The Topgolf segment achieved a 1% increase in same-venue sales for Q3, contributing to a 4% revenue increase to $472 million, while the golf equipment segment also saw a 4% revenue increase to $305 million.
- Net debt improved to $2.23 billion from $2.54 billion last year, with readjusted net debt at $665 million, down $435 million year-over-year.
- The company remains committed to the separation of Topgolf, evaluating both a spin and a sale, and plans three new venues for next year.
Nov 6, 2025, 10:00 PM
Topgolf Callaway Brands Reports Strong Q3 2025 Results and Raises Full-Year Guidance
MODG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Topgolf Callaway Brands reported Q3 2025 consolidated revenues of $934 million, a 3% increase year-over-year, and adjusted EBITDA of $115 million, which decreased $4 million year-over-year due to $12 million in incremental tariffs.
- The company raised its full-year 2025 revenue guidance to $3.90 billion to $3.94 billion and adjusted EBITDA guidance to $490 million to $510 million.
- The Topgolf segment saw a 4% revenue increase to $472 million in Q3 2025, with same-venue sales up over 1% overall, driven by 2.4% growth in the one-to-two bay business.
- The golf equipment segment's Q3 2025 revenue increased 4% to $305 million, benefiting from strong market conditions and despite lower new product launch volume.
- Incremental tariff expenses were $12 million in Q3 2025, with a full-year forecast of approximately $40 million, and are projected to more than double in 2026 if current rates persist.
Nov 6, 2025, 10:00 PM
MODG Announces Q3 2025 Results and Raises Full-Year Guidance
MODG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- For Q3 2025, MODG reported Net Revenues of $934.0 million, an 8% decrease year-over-year, and Adjusted EBITDA of $114.4 million, a 5% decrease. However, revenue from the ongoing business (excluding Jack Wolfskin) grew 3% year-over-year.
- The company is raising its full-year 2025 guidance for Consolidated Net Revenue to a range of $3.90 - $3.94 billion (from $3.80 - $3.92 billion) and Consolidated Adjusted EBITDA to $490 - $510 million (from $430 - $490 million).
- Topgolf's same venue sales inflected to positive growth in Q3 2025, contributing to an improved outlook for Topgolf revenue and Adjusted EBITDA for the full year.
- Company liquidity remains strong, increasing $391 million year-over-year to $1,254 million as of September 30, 2025.
Nov 6, 2025, 10:00 PM
Topgolf Callaway Brands Exceeds Q3 2025 Expectations and Raises Full-Year Guidance
MODG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Topgolf Callaway Brands reported Q3 2025 consolidated revenues of $934 million, a 3% increase year-over-year, and adjusted EBITDA of $115 million, exceeding expectations.
- The company raised its full-year 2025 revenue guidance to $3.90-$3.94 billion and adjusted EBITDA guidance to $490-$510 million.
- Topgolf achieved positive same-venue sales of 1% in Q3 2025, driven by value initiatives and strong traffic growth, leading to a revised full-year same-venue sales guidance of down mid-single digits.
- Incremental tariffs impacted Q3 2025 adjusted EBITDA by $12 million and are estimated at approximately $40 million for the full year. The company also implemented a reduction in force of about 300 positions.
Nov 6, 2025, 10:00 PM
Topgolf Callaway Brands Announces Third Quarter 2025 Results and Raises Full Year Guidance
MODG
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Topgolf Callaway Brands exceeded its Q3 2025 guidance for both net revenue and Adjusted EBITDA. For the quarter ended September 30, 2025, the company reported net revenues of $934.0 million and a net loss of $(14.7) million, resulting in a diluted loss per share of $(0.08).
- The company raised its full year 2025 guidance, with consolidated revenue now expected to be between $3.90 billion and $3.94 billion, and consolidated Adjusted EBITDA projected to be between $490 million and $510 million.
- In Q3 2025, Topgolf net revenues increased 4.2% to $472.2 million, and Golf Equipment net revenues increased 4.0% to $305.3 million. Topgolf also achieved positive same venue sales growth during the quarter.
- Company liquidity remains strong, increasing $391 million year-over-year to $1,254 million.
Nov 6, 2025, 9:20 PM
Topgolf Callaway Brands Announces Q3 2025 Results and Raises Full Year 2025 Guidance
MODG
Earnings
Guidance Update
M&A
- Topgolf Callaway Brands reported Q3 2025 net revenues of $934.0 million and a GAAP net loss of $14.7 million, or $(0.08) per diluted share.
- Excluding the Jack Wolfskin business, which was sold in Q2 2025, net revenue from ongoing operations grew 3% year-over-year.
- The Topgolf segment's revenue increased 4.2% to $472.2 million in Q3 2025, with same venue sales inflecting to positive 1% growth.
- Company liquidity significantly increased by $391 million year-over-year to $1,254 million as of September 30, 2025.
- Management raised its full year 2025 consolidated revenue guidance to a range of $3.90 billion to $3.94 billion and Adjusted EBITDA guidance to a range of $490 million to $510 million.
Nov 6, 2025, 9:15 PM
Quarterly earnings call transcripts for Topgolf Callaway Brands.
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