Topgolf Callaway Raises 2024 Adj. EPS Guidance From $0.26-$0.34 To $0.31-$0.39 vs $0.30 Est., Cuts Net Revenue Guidance From $4.515B-$4.555B To $4.435B-$4.475B vs $4.52B Est.
Portfolio Pulse from Benzinga Newsdesk
Topgolf Callaway has updated its financial guidance for 2024, increasing its adjusted EPS forecast from $0.26-$0.34 to $0.31-$0.39, surpassing the estimated $0.30. However, it has reduced its net revenue guidance from $4.515B-$4.555B to $4.435B-$4.475B, which is below the estimated $4.52B.

May 08, 2024 | 10:00 pm
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Topgolf Callaway, represented by the symbol MODG, has raised its 2024 adjusted EPS guidance above estimates but cut its revenue forecast below expectations.
The increase in EPS guidance suggests improved profitability or cost management, which is generally positive for stock prices. However, the reduction in revenue guidance could indicate potential challenges in sales or market demand, creating uncertainty. The mixed guidance results in a neutral short-term impact score, as the positive EPS adjustment may balance out concerns over reduced revenue forecasts.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100