TOPGOLF CALLAWAY BRANDS Reports Second Quarter FY 2023 Earnings Results on August 8 2023
August 10, 2023
🌥️Earnings Overview
On August 8 2023, TOPGOLF CALLAWAY BRANDS ($NYSE:MODG) reported its financial results for the second quarter of Fiscal Year 2023, ending June 30 2023. Revenues for the quarter were USD 1179.7 million, a 5.7% increase compared to the previous year’s quarter. Net income also rose 11.4% year over year, finishing at USD 117.4 million.
Share Price
The stock opened at $18.8 and closed at $18.2, a decrease of 2.9% from its previous closing price of 18.8. This decrease in stock price is attributed to weak earnings results during the quarter and a lack of positive catalysts in the market. Net income also declined, dropping 11% from the same period last year.
In addition, the company posted lower cash flow from operations due to increased capital expenditures. Overall, this quarter’s results were below expectations and investors have been disappointed with the performance of TOPGOLF CALLAWAY BRANDS. As a result, the stock price has fallen and investors are awaiting future guidance from the company to determine if there is any potential for improvement in the share price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MODG. More…
| Total Revenues | Net Income | Net Margin |
| 4.19k | 108.2 | 2.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MODG. More…
| Operations | Investing | Financing |
| -8.8 | -572.8 | 601.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MODG. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.96k | 5.03k | 21.19 |
Key Ratios Snapshot
Some of the financial key ratios for MODG are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 41.5% | 60.8% | 5.6% |
| FCF Margin | ROE | ROA |
| -13.5% | 3.8% | 1.6% |
Analysis
At GoodWhale, we have conducted an analysis of TOPGOLF CALLAWAY BRANDS’ wellbeing. Our Risk Rating shows that this is a high risk investment in terms of both financial and business aspects. Upon further investigation, we have identified 3 risk warnings in the income sheet, balance sheet, and cashflow statement. To get a better insight into these warnings, become a registered user of GoodWhale and check out the details. We are committed to providing investors with reliable financial analysis to help them make informed investment decisions. More…
Peers
The competition between golf equipment manufacturers Topgolf Callaway Brands Corp and its competitors, Yonex Co Ltd, Vista Outdoor Inc, and Curves Holdings Co Ltd, is fierce. Each company strives to create the best and most innovative products to meet the needs of the modern golfer. As a result, consumers are presented with a wide range of options when it comes to selecting the right golf equipment for their individual game.
– Yonex Co Ltd ($TSE:7906)
Yonex Co Ltd is a Japanese sports equipment manufacturer that specializes in badminton, golf, and tennis equipment. As of 2023, the company had a market cap of 109.37B, indicating it to be one of the largest companies in its sector. The company’s Return on Equity (ROE) stood at 14.05%, which is higher than the industry average. This indicates that Yonex is able to efficiently utilize its assets to generate higher returns for its shareholders.
– Vista Outdoor Inc ($NYSE:VSTO)
Vista Outdoor Inc is a leading global designer, manufacturer, and marketer of consumer products in the outdoor sports and recreation markets. The company offers a broad portfolio of products in the shooting sports, outdoor recreation, outdoor power equipment and lifestyle markets, including ammunition, firearms, outdoor apparel, camping gear, hydration products, binoculars, and more. As of 2023, Vista Outdoor Inc has a market capitalization of 1.48 billion and a return on equity of 25.02%. This indicates that the company has been successful in generating profits from its investments and increasing the value of its shareholders’ investments.
– Curves Holdings Co Ltd ($TSE:7085)
Curves Holdings Co Ltd is a leading provider of health, fitness, and wellness services. As of 2023, the company has a market capitalization of 75.09 billion, reflecting the positive sentiment of investors in the company and its stable growth prospects. Curves Holdings Co Ltd is also showing strong returns on equity at 17.64%, which is a sign of its strong financial performance and potential for future growth. The company’s services include providing health clubs, wellness centers, and corporate wellness programs. They also offer nutritional counseling, personal training, exercise classes, and other related services. The company is committed to helping people achieve their health and fitness goals by providing quality services.
Summary
TOPGOLF CALLAWAY BRANDS reported positive earnings results for the second quarter of FY2023, with total revenue up 5.7% and net income up 11.4%. From an investor perspective, this suggests the company is in a healthy financial position, since its top line and bottom line metrics are growing. Furthermore, the company’s strong performance indicates that it should be able to continue providing shareholders with good returns in the future. Investors should keep an eye on the company’s performance and use the available financial information to assess whether or not it is a good investment.
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