HIGHLIGHTS Q3 Consolidated Revenues and Adjusted EBITDA were ahead of expectations. The Callaway brand maintained its #1 position in U.S.
market share in total golf clubs and achieved record U.S. market share in golf ball.
The Company further strengthened its available liquidity position to $863 million , increasing $129 million year-over-year. The Company reaffirmed its expectation for full year positive Adjusted Free Cash Flow for the total Company and Topgolf. The Company lowered full year 2024 revenue guidance to approximately $4.
2 billion and Adjusted EBITDA to a range of $560 to $570 million . The Company maintained prior Topgolf revenue guidance of approximately $1.79 billion and increased Topgolf Adjusted EBITDA guidance to approximately $315 million .
The Company continues to believe that separating Topgolf from the core business will create shareholder value and is fully engaged in this work. CARLSBAD, Calif. , Nov.
12, 2024 /PRNewswire/ -- Topgolf Callaway Brands Corp. (the "Company" or "Topgolf Callaway Brands", "we", "our", "us") (NYSE: MODG ) announced its financial results for the third quarter ended September 30, 2024 . "We are pleased to announce results that exceeded our expectations for Q3 amid a challenging macroeconomic backdrop," commented Chip Brewer , President and Chief Executive Officer of Topgolf Callaway Brands.
"Topgolf performed consistent with our revenue expectations and continued to show strong venue profitability despite the challenging sales.
