TopGolf Callaway Report Earnings, PLUS Will Open First China Facility By Steve Pike For the full year of 2022, Topgolf Callaway Brands reported earnings of $158 million down from $322 million in 2021. Total revenue last year was $3.996 billion. Topgolf easily led the company’s financials, with $409 million in Q4 revenue alone, a 22 percent increase over 2021. For the year, Topgolf reported revenue at $1.5 billion, 42 percent better than in 2021, with a 32 percent earnings increase to $77 million. Topgolf Callway Brands’ equipment revenue was $190 million in Q4 2022, versus $161 million the same period in 2021. For 2022, equipment sales $1.4 billion, an increase of 14 percent over 2021. The company opened six Topgolf venues in the last quarter and a total of 11 new venues in 2022. It plans this spring to open its first venue in Chengdu, China. “This will be a massive, 104-bay facility, built, owned and operated by our national franchisee there,’’ Topgolf Callaway Brands Chip Brewer said. “China represents a massive long-term opportunity for Topgolf and thus both we and our franchisee are excited to get our first venue up and running.’’ Brewer said the company finished 2021 with 81 owned and operated venues and five franchised venues. “We expect to open 11 new owned and operated venues again this year. The mix will be similar in size to last year and like last year, it will be back-end loaded, with only two venues planned to open in the first half of this year and eight planned to open in Q4.’’ Tiger & Rory Attend Ground-Breaking Ceremony From Jack Barrett In February Tiger Woods and Rory McIlroy, co-founders of TMRW Sports, attended a ceremony at Palm Beach State College to officially begin construction of the arena that will house the new TGL indoor golf league. The TGL is set to launch in 2024 with 11 top-ranked PGA Tour players including, world No. 1 Jon Rahm, Justin Thomas, Adam Scott, Collin Morikawa, Matt Fitzpatrick, Max Homa, Billy Horschel, Justin Rose and Xander Schauffele committed to participate in league events. Also making remarks were Florida Governor, Ron DeSantis and PGA Tour Commissioner, Jay Monahan.
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