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Compared to Estimates, Topgolf Callaway (MODG) Q2 Earnings: A Look at Key Metrics

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Topgolf Callaway Brands (MODG - Free Report) reported $1.11 billion in revenue for the quarter ended June 2025, representing a year-over-year decline of 4.1%. EPS of $0.24 for the same period compares to $0.42 a year ago.

The reported revenue represents a surprise of +2.69% over the Zacks Consensus Estimate of $1.08 billion. With the consensus EPS estimate being $0.03, the EPS surprise was +700%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Topgolf Callaway performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Net Revenues- Topgolf: $485.3 million versus the three-analyst average estimate of $462.06 million. The reported number represents a year-over-year change of -1.8%.
  • Net Revenues- Active Lifestyle: $213.6 million versus the three-analyst average estimate of $222.17 million. The reported number represents a year-over-year change of -14.4%.
  • Net Revenues- Golf Equipment: $411.6 million compared to the $405.65 million average estimate based on three analysts. The reported number represents a change of -0.5% year over year.
  • Net Revenues- Services: $481.4 million versus the two-analyst average estimate of $458.45 million. The reported number represents a year-over-year change of -1.6%.
  • Net Revenues- Products: $629.1 million versus the two-analyst average estimate of $636.17 million. The reported number represents a year-over-year change of -5.9%.
  • Operating income (loss)- Topgolf: $55.4 million versus the three-analyst average estimate of $25.03 million.
  • Operating income (loss)- Active Lifestyle: $20.5 million versus the two-analyst average estimate of $9.55 million.
  • Operating income (loss)- Golf Equipment: $76.3 million versus $64.45 million estimated by two analysts on average.

View all Key Company Metrics for Topgolf Callaway here>>>

Shares of Topgolf Callaway have returned +2.9% over the past month versus the Zacks S&P 500 composite's +0.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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