Topgolf Callaway Q3 Earnings & Revenues Top Estimates, Fall Y/Y

Zacks11-13 21:30

Topgolf Callaway Brands Corp. MODG reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year ...

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However, the top and bottom lines declined on a year-over-year ...</p>\n\n<a href=\"https://finance.yahoo.com/news/topgolf-callaway-q3-earnings-revenues-133000844.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Topgolf Callaway Q3 Earnings & Revenues Top Estimates, Fall Y/Y</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTopgolf Callaway Q3 Earnings & Revenues Top Estimates, Fall Y/Y\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-13 21:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/topgolf-callaway-q3-earnings-revenues-133000844.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Topgolf Callaway Brands Corp. MODG reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year ...</p>\n\n<a href=\"https://finance.yahoo.com/news/topgolf-callaway-q3-earnings-revenues-133000844.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RCL","symbol_name":"皇家加勒比邮轮","start_time":0,"source_url":"https://finance.yahoo.com/news/topgolf-callaway-q3-earnings-revenues-133000844.html","article_id":"2483820908","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/wtX64DOBg71cz6xz_kYqrQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/652a85ced373e6351f2b8277764c0288"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483820908","pubTimestamp":1731504600,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Topgolf Callaway Brands Corp. MODG reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.Topgolf Callaway Brands Corp. Price, Consensus and EPS Surprise. Topgolf: Revenues of this segment amounted to $453.2 million, up 1.2% from the reported value of $447.7 million in the year-ago quarter. The segment's operating income came in at $28.3 million compared with $38.9 million reported in the prior year quarter. The downside can be attributed to lower same-venue sales  and increased depreciation related to new venues.Segment-adjusted EBITDA came in at $84.4 million compared with $90.9 million reported in the prior-year quarter. Operating efficiencies and cost management at Topgolf venues, along with favorable shipment timing in the legacy business added to the positives.Golf Equipment: Revenues of this s","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"RCL":"皇家加勒比邮轮","HLT":"希尔顿酒店","MODG":"Topgolf Callaway Brands Ord Shs"},"translate_title":"Topgolf Callaway第三季度盈利和收入最高预期，同比下降","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HLT":0.9,"MODG":0.9,"RCL":0.9},"content_text":"Topgolf Callaway Brands Corp. MODG reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. However, the top and bottom lines declined on a year-over-year basis.\nStay up-to-date with all quarterly releases: See Zacks Earnings Calendar.\nMODG’s Q3 Earnings and Revenues\nIn the quarter under review, the company reported an adjusted earnings per share (EPS) of 2 cents, beating the Zacks Consensus Estimate of loss of 18 cents per share. In the prior-year quarter, the company reported an adjusted EPS of 19 cents.Total revenues of $1.01 million beat the consensus estimate by 0.2%. However, the top line declined 2.7% year over year.\n\nTopgolf Callaway Brands Corp. Price, Consensus and EPS Surprise\n\nTopgolf Callaway Brands Corp. price-consensus-eps-surprise-chart | Topgolf Callaway Brands Corp. Quote\n\nMODG's Segmental Discussion\nTopgolf: Revenues of this segment amounted to $453.2 million, up 1.2% from the reported value of $447.7 million in the year-ago quarter. The segment's operating income came in at $28.3 million compared with $38.9 million reported in the prior year quarter. The downside can be attributed to lower same-venue sales (down 11% year over year) and increased depreciation related to new venues.\nSegment-adjusted EBITDA came in at $84.4 million compared with $90.9 million reported in the prior-year quarter. Operating efficiencies and cost management at Topgolf venues, along with favorable shipment timing in the legacy business added to the positives.Golf Equipment: Revenues of this segment amounted to $293.5 million, almost flat year over year. The segment's operating income came in at $26.8 million compared with $35.2 million reported in the prior year quarter. The downside was driven by increased freight costs.\nActive Lifestyle: Revenues of this segment amounted to $266.2 million, down 11.1% from the reported value of $299.5 million in the year-ago quarter. The decline can be attributed to lower European wholesale revenues at Jack Wolfskin. The segment's operating income came in at $19.4 million compared with $40 million reported in the prior-year quarter.\nMODG’s Operating Highlights\nDuring the third quarter of 2024, the company’s total costs and expenses amounted to $979.2 million compared with $966.8 million reported in the prior-year period.\nAdjusted net income during the quarter came in at $4.3 million compared with $35.8 million reported in the prior-year quarter.\nAdjusted EBITDA during the quarter came in at $119.8 million compared with $163.3 million reported in the prior-year quarter.\nBalance Sheet\nAs of Sept. 30, 2024, MODG’s cash and cash equivalents amounted to $441.9 million compared with $393.5 million as of Dec. 31, 2023. The company’s long-term debt (as of Sept. 30) was $1.46 billion compared with $1.52 million at the 2023 end.\nFor the nine months ended Sept. 30, 2024, the company’s net cash provided by operating activities was $338.7 million compared with $227.7 million reported in the prior-year period.\nMODG’s Q4 & 2024 Outlook\nFor the fourth quarter of 2024, the company expects revenues to be approximately $885 million. It expects adjusted EBITDA to be in the range of $74-$84 million.\nIn 2024, the company anticipates revenues to be approximately $4.2 billion, compared with the previous projection of $4.2-$4.26 billion. The company expects adjusted EBITDA to be in the range of $560-$570 million compared with the previous expectation of $570-$590 million. MODG projects adjusted EPS in the range of 8-13 cents, down from the prior expectation of 11-21 cents.\nMODG’s Zacks Rank\nTopgolf Callaway sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.\nRecent Consumer Discretionary Releases\nRoyal Caribbean Cruises Ltd. RCL posted impressive third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. The top and bottom lines increased on a year-over-year basis.In the quarter, the company exceeded its guidance, driven by stronger pricing on close-in demand, continued growth in onboard revenues and reduced costs due to timing factors. The company has raised its outlook for 2024 and reported elevated demand patterns heading into 2025.Mattel, Inc. MAT reported impressive third-quarter 2024 results, wherein the adjusted earnings and net sales topped the Zacks Consensus Estimate. The top line surpassed the consensus estimate after missing it for three consecutive quarters. On a year-over-year basis, net sales declined while adjusted earnings grew.The company’s quarterly results benefited from its Optimizing for Profitable Growth program along with the focus on its multi-year strategy to expand its IP-driven toy business and entertainment offering. Although the top line was adversely impacted by reduced sales from both the reportable segments, the bottom line showed resilience through operational efficiencies.Hilton Worldwide Holdings Inc. HLT reported third-quarter 2024 results, with earnings and revenues beating the Zacks Consensus Estimate. Both the metrics increased on a year-over-year basis.The company's performance was backed by notable improvements in RevPAR, attributed to higher occupancy rates and average daily rates. Furthermore, in the quarter, Hilton opened 531 new hotels. It achieved net room growth of 33,600. As of Sept. 30, 2024, Hilton's development pipeline comprised nearly 3,525 hotels, with almost 492,400 rooms across 120 countries and territories — including 28 countries and regions with no running hotels. For 2024, the company expects net unit growth in the range of 7-7.5%.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report\nMattel, Inc. (MAT) : Free Stock Analysis Report\nHilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis Report\nTopgolf Callaway Brands Corp. (MODG) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483820908"}