Topgolf Callaway Q3 net loss $3.6M, lowers FY revenue and EBITDA guidance, raises Topgolf EBITDA outlook

Callaway Golf Co

2024-Q3 EPS reported $0.35 revenue$3,314,900,000

Q3 GAAP net loss $3.6M vs net income $29.7M a year ago; diluted EPS -$0.02 vs $0.16.
Revenue $1,012.9M (-2.7% YoY); Adjusted EBITDA $119.8M (-26.6% YoY).
Lowered FY 2024 revenue guidance to ~$4.2B and Adj. EBITDA to $560-570M (from $570-590M).
Raised Topgolf Adj. EBITDA guidance to ~$315M (from ~$310M); Topgolf same-venue sales fell 11%.
Available liquidity strengthened to $863M (+$129M YoY); inventory down $70M to $666M.

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