Photo: Russell Kirk, USGA
In his third-quarter earnings call last week, Topgolf Callaway Brands CEO Chip Brewer suggested that some segments of the golf industry expected a slowdown in equipment sales in 2022. The thinking was that post COVID-19, with people headed back to the office to some degree and the return of youth sports, consumers might play less golf and buy less gear.
That line of reasoning was shown to be completely wrong last week as Topgolf Callaway Brands and Acushnet Holdings Corp., parent company for the Titleist, FootJoy and Kjus brands, both announced great financial results from the third quarter. Both companies are coming off record years in 2021, and both are maintaining momentum in 2022.
These two companies are publicly traded, and they serve as a proxy for the fortunes of the golf equipment industry. Industry sources suggest that the other two major privately held equipment businesses, TaylorMade Golf and Ping, are having equally buoyant years.
Acushnet went first last Thursday, announcing that thir...