Topgolf Callaway’s 2023 sales are up 7.2 percent over 2022.Topgolf, Golf Equipment and Active Lifestyle segments all top $1 billion in sales.Topgolf is the largest revenue creator at $1.76 billion.Net profits for 2023 are $95 million, down 40 percent from 2022.Decrease due to increases in interest expense and accounting write-offs.
The Topgolf Callaway 2023 sales and financial report is out and once again it’s a fascinating look into where golf’s biggest company is heading.
First the headline: 2023 sales hit the $4.285-billion mark. That represents a 7.2-percent increase over 2022. Topgolf Callaway’s nearest publicly traded competitor – Acushnet – finished 2022 at $2.27 billion. (Acushnet usually releases its annual financials in March.)
All three Topgolf Callaway business segments cracked $1 billion in sales, led by Topgolf at $1.76 billion. The Golf Equipment segment reached nearly $1.39 billion in sales while the Active Lifestyle segment rocked in at $1.13 billion.
There’s a lot to unpack here, particularly how $4.285 billion in sales generated only $95 million in net profit. (There’s a simple reason.) But, first, here’s our standard disclaimer:
We are not nor do we claim to be financial experts, investment counselors or Wall Street-level business analysts. We’re simply golf industry geeks who like to read.
