Topgolf Callaway Stock Rises After-Market On Q4 Earnings Beat: Retail Sentiment Brightens

Shares of Topgolf Callaway Brands Corp. (MDOG) were up 0.3% in after-hours trading Monday after the company posted better-than-expected quarterly earnings, lifting retail sentiment.

Topgolf Callaway’s fourth-quarter (Q4) loss per share came in at $0.33, better than a feared $0.40, while revenue of $924.4 million beat estimates of $884.74 million, according to Stocktwits data.

Segment-wise, revenue at Topgolf remained flat at $439.0 million, led by a decline in same-venue sales offset by revenue from new venues.

Golf equipment revenue increased $25.4 million to $224.8 million, driven by increased revenue in both golf clubs and golf balls, the company said.

"These results reflect continued strength in our golf equipment business, including our leading market share position in golf clubs and record market share in golf balls in 2024, as well as continued strong operating performance at TravisMathew and the successful reorganization at Jack Wolfskin,” said Chip Brewe, TolpGolf’s President and CEO.

“Looking forward to 2025, improving same venue sales at Topgolf is a top priority for us and we are actively implementing initiatives to address same venue sales.”

Sentiment on Stocktwits for Topgolf Callaway inched up in the  ‘extremely bullish’ zone from a day ago. Message volumes climbed to the ‘extremely high’ territory from ‘high.’

For 2025, the company’s outlook assumes a consumer environment similar to 2024 and headwinds of approximately $105 million in revenue and about $120 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).

Topgolf sees 2025 revenue at $4.0 billion and $4.19 billion, compared to consensus estimates of $4.34 billion. For Q1, it expects revenue between $1.05 billion and $1.09 billion, also below the consensus of $1.17 billion.

Topgolf Callaway stock is down 14% year-to-date.

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