All this talk about golf being Covid-proof has been backed up by National Golf Foundation reports and most recently, the year-end Callaway Golf financials report.
The Carlsbad-based OEM reported some staggering numbers highlighted by a billion-dollar year from Topgolf and another $1.2 billion coming from equipment sales.
- Callaway’s 2021 full-year sales were over $3.1 billion, nearly double 2020 and up 82% over 2019.
- On the $3.1 billion in revenue, Callaway made a $322 million profit.
Topgolf is Callaway’s MVP, but equipment sales were up 26% as well
Callaway’s October 2020 acquisition of the remaining 86% of Topgolf Entertainment seems to have paid immediate dividends for Callaway. With the merger made official on March 8, 2021, that means Topgolf pulled in over a billion dollars in under 10 months.
“The combination of Topgolf and Callaway early in the year was transformational,” said Callaway CEO Chip Brewer in a statement. “We have been thrilled by the strong revenue growth and profitability, with both exceeding our initial expectations.”
“If Callaway decided tomorrow to stop selling golf clubs, balls and apparel, it would still be a billion-dollar operation.”
The $3.1 BILLION Story ➡️ https://t.co/XhdIlKwdvf pic.twitter.com/VgtN2Oemcu
— MyGolfSpy (@MyGolfSpy) February 12, 2022
The company projects 2022 revenues to reach $3.8 billion this year with more than $1.5 billion coming from a full year of Topgolf, which plans to open 10 to 11 new venues in 2022
