Callaway posts record numbers for Q2, led by Topgolf

  • Images: John Mantell Photo; Joe Hendrickson; both

Callaway Golf’s acquisition of TopGolf in in 2021 is already starting to pay off. The club manufacturer reported its latest quarterly figures — $1.12 billion, a 22% increase from Q2 2021, with net income hitting $105.4 million, a 13% increase.

Topgolf, which Callaway acquired in a $3 billion deal in March 2021, posted revenues of $404 million, up 24% from last year. Same-venue sales, which exclude newly opened locations, were also up 8%. Topgolf has already opened two new locations this year, in Seattle and El Segundo, Calif., and plans to have eight more open by the end of 2022.

Callaway’s main business of clubs and balls posted a 13% increase of $452 million, and sales in its active lifestyle segment — apparel and accessory brands such as OGIO, Jack Wolfskin, and TravisMathew —rose 40% to $260 million.

“Earlier this year there was a lot of concern about a reversion in golf consumption, but clearly, halfway through the year, the data shows there has been no reversion,” said Callaway Chief Executive Chip Brewer. “Inflation has been an issue for us, as it has for most companies, but across all of our business segments, the data thus far shows we can price to largely offset it.”

The US dollar’s high standing has made Callaway’s products more expensive overseas, but Brewer noted that Callaway is no stranger to foreign market fluctuation, and the company is well-positioned to withstand such pressure.

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