The earnings call highlighted strong performance in the Golf Equipment segment and successful strategic initiatives, including the divestment of Jack Wolfskin. However, significant challenges in the Topgolf segment, increased tariffs, and economic uncertainty present concerns.

Company Guidance -

Q2 2025

During the Q1 2025 earnings call, Topgolf Callaway Brands highlighted that they met or exceeded expectations across all business segments. The company noted a $5 million forecasted tariff impact had risen to $25 million due to current rates, but efforts to optimize operations and accelerate cost reduction initiatives could mitigate some of the impact. Golf Equipment reported revenues of $444 million, with operating margins benefiting from recent cost and margin initiatives. Topgolf's same venue sales were down 12%, with new initiatives like Sunday Funday driving more than a 20% increase in same-day traffic. The company lowered Topgolf's revenue guidance but maintained its full-year EBITDA guidance, expecting significant long-term margin growth. Despite macroeconomic challenges, Topgolf Callaway remains confident in achieving full-year guidance through strong operational capabilities and strategic initiatives.

Strong Q1 Performance

Q1 was a strong quarter for Topgolf Callaway Brands as they met or exceeded expectations in all business segments.

Margin Improvement in Golf Equipment

The Golf Equipment segment saw operating margins improve by 24% due to cost reduction and margin initiatives.

Positive Consumer Response to Initiatives

Initiatives like Sunday Funday and Topgolf Nights drove more than a 20% improvement in same-day traffic.

Successful Strategic Divestment

An agreement to sell the Jack Wolfskin brand was announced, enabling greater business focus and financial flexibility.

Effective Cost Management

Proactive cost and efficiency improvements helped maintain financial guidance despite macroeconomic challenges.

Topgolf Callaway Brands (MODG) Earnings, Revenues Date & History

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MODG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 06, 2025	2025 (Q2)	0.02 / -	0.42	―	―	―
May 12, 2025	2025 (Q1)	-0.06 / 0.11	0.09	22.22% (+0.02)
Feb 24, 2025	2024 (Q4)	-0.40 / -0.33	-0.3	-10.00% (-0.03)
Nov 12, 2024	2024 (Q3)	-0.17 / 0.02	0.2	-90.00% (-0.18)
Aug 07, 2024	2024 (Q2)	0.27 / 0.42	0.39	7.69% (+0.03)
May 08, 2024	2024 (Q1)	0.01 / 0.09	0.17	-47.06% (-0.08)
Feb 13, 2024	2023 (Q4)	-0.33 / -0.30	-0.27	-11.11% (-0.03)
Nov 08, 2023	2023 (Q3)	0.11 / 0.20	0.2	0.00% (0.00)
Aug 08, 2023	2023 (Q2)	0.34 / 0.39	0.53	-26.42% (-0.14)
May 09, 2023	2023 (Q1)	0.15 / 0.17	0.44	-61.36% (-0.27)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MODG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 12, 2025	$7.90	$6.55	-17.09%
Feb 24, 2025	$6.70	$6.68	-0.30%
Nov 12, 2024	$9.44	$8.57	-9.22%
Aug 07, 2024	$14.00	$12.22	-12.71%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.