The golf chain known for its high-tech sporting experience is having a hard time bringing in customers…
Topgolf revealed earnings that led financial analysts to worry more and more about the company’s well-being.
Here’s the story…
Missed Topgolf Earnings
While Topgolf is not too fazed by their earnings…
Industry analysts are.
The company reported slower sales but is anticipating that after a strategic review and potential spinoff…
The company will land on its feet…
But analysts like Joseph Altobello don’t think it’ll be enough. In fact, Altobello downgraded his expectations for Topgolf following the earnings…
Altobello now believes the company will underperform instead of outperform…
AND IS WARNING INVESTORS TO AVOID THE COMPANY’S SHARES UNTIL FURTHER NOTICE.
Callaway Golf Co. purchased Topgolf in 2020 for about $2 billion…
SINCE THEN, THE COMPANY’S SHARES DROPPED AN ESTIMATED 40%.
Topgolf’s earnings reported lackluster revenue…
But the slowed sales are also from customers who are cutting back on unnecessary expenditures in the face of rampant inflation.
While the company might still believe a spinoff chain might be enough to offset missed Topgolf earnings…
Analysts believe that the company’s future is not as simple as they make it out to be.
Be Great,
GCTV Staff
Disclaimer: This content is intended to be used for educational and informational purposes only. Individual results may vary. You should perform your own due diligence and seek the advice from a professional to verify any information on our website or materials that you are relying upon if you choose to make an investment or business decision. Investment, real estate, and business involve great risk and there is no guarantee of performance or results.We are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content presented should not be taken as professional advice. We recommend seeking the advice of a financial professional before you invest, and we accept no liability whatsoever for any loss or damage you may incur.
