Overview
Topgolf Callaway Q3 revenue grows 3% yr/yr, beating analyst expectations
Adjusted EBITDA for Q3 beats consensus, driven by Golf Equipment and Topgolf segments
Company raises full year 2025 revenue and adjusted EBITDA guidance
Outlook
Company raises full-year 2025 revenue guidance to $3.90 bln-$3.94 bln
Topgolf revenue guidance increased to $1.77 bln-$1.79 bln
Full-year Adjusted EBITDA guidance increased to $490 mln-$510 mln
Result Drivers
GOLF EQUIPMENT DEMAND - Strong demand for golf equipment drove revenue growth in the Golf Equipment segment
TOPGOLF VENUE EXPANSION - Addition of six new Topgolf venues and improved traffic trends led to revenue growth
TARIFF IMPACT - Incremental tariffs affected non-GAAP income from operations and Adjusted EBITDA
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $934 mln | $905 mln (10 Analysts) |
Q3 Net Income | -$14.70 mln | ||
Q3 Adjusted EBITDA | Beat | $114.40 mln | $88.30 mln (9 Analysts) |
Q3 Operating Income | $28.30 mln | ||
Q3 Pretax Profit | -$22.30 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 9 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the recreational products peer group is "buy."
Wall Street's median 12-month price target for Topgolf Callaway Brands Corp is $10.50, about 11.8% above its November 5 closing price of $9.26
Press Release: ID:nPn21jt0pa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)