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Article Date: November 2023
Word Count: 431

Topgolf Callaway Cuts Guidance on Falling Venue Comps

Net income slipped 23% in the third quarter to $29.7 million from $38.5 million as combined products and services revenue increased 5% to $1,040.6 million from $988.5 million boosted by Topgolf and apparel sales. Adjusted EBITDA, which excludes the growing interest line item along with depreciation and one-time charges, increased 13% to $163.3 million from $144.4 million. Most of the top line gains came from the U.S., which grew 8% to $737.3 million, while Europe improved 5% (-2% CC) to $149.5 million, Asia dropped 6% (-3% CC) to $130.7 million, and ... Log in to view full article.


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