Look for Topgolf Callaway Brands (NYSE: MODG) on Aug. 12 to launch its new Apex line of irons.
“This is our most premium line of irons and the product is both beautiful and innovative,” company President Chip Brewer tolf Wall Street analysts. I’m particularly excited about the new tie Fusion technology that will be introduced as part of this exciting new lineup.”
Topgolf Callaway Brands earlier this week revised its second-half 2024 equipment revenues down by approximately two percent – or $55 million. Brewer said the revision “reflects the potential” for further slowing of consumer activity in the second half of this year.
“However,” Brewer said,” we believe we can manage expenses to offset the majority of any bottom-line impact of this modest revenue adjustment in our products business.”
Topgolf Callaway Brands reported six-month equipment sales at $864 million versus $$894 million the same period in 2023.
The company reported golf equipment earnings of $77 million – a decrease of 20% year over year due to the lower revenue, higher air freight costs, and foreign exchange headwinds, which were partially offset by management of operating expenses.