Churchill Downs (CHDN) came out with quarterly earnings of $0.97 per share, beating the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $0.87 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 1.04%. A quarter ago, it was expected that this racetrack operator and gambling company would post earnings of $2.71 per share when it actually produced earnings of $2.89, delivering a surprise of 6.64%.Over the la ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33998 Churchill Downs Incorporated (Exact name of registrant as specified in its charter) Kentucky 61-0156015 (State or other jurisdict ...

FOR IMMEDIATE RELEASE Contact: Sam Ullrich (502) 638-3906 Sam.Ullrich@kyderby.com CHURCHILL DOWNS INCORPORATED REPORTS 2024 THIRD QUARTER RESULTS LOUISVILLE, Ky. (October 23, 2024) - Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI", "we") today reported business results for the third quarter ended September 30, 2024. Company Highlights • Third quarter results: ◦ Record net revenue of $628.5 million compared to $572.5 million in third quarter 2023 ◦ Record net income attributable to CDI of $ ...

LOUISVILLE, Ky., Oct. 23, 2024 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI", "we") today reported business results for the third quarter ended September 30, 2024. Company Highlights Third quarter results: Record net revenue of $628.5 million compared to $572.5 million in third quarter 2023Record net income attributable to CDI of $65.4 million compared to $61.0 million in third quarter 2023Record Adjusted EBITDA of $235.3 million compared to $218.2 million in third qu ...

Churchill Downs Incorporated (CHDN) is likely to benefit from strategic investments in Historical Racing Machines (HRM) technology, development efforts and Exacta acquisition. Also, the focus on TwinSpires B2B expansion bodes well. However, slow recoveries in key markets and rising capital expenditures are a concern. Growth Drivers for CHDN Stock Churchill Downs' focus on HRM continues to be a key growth driver. The company is on track to open new HRM venues in Kentucky and Virginia, further expanding its f ...

LOUISVILLE, Ky., Sept. 20, 2024 (GLOBE NEWSWIRE) -- Churchill Downs Incorporated ("CDI" or "the Company") announced today that the Company will release third quarter 2024 financial results after the market closes on Wednesday, October 23, 2024, and host a related conference call to discuss the quarter on Thursday, October 24, 2024, at 9 a.m. ET. Investors and other interested parties may listen to the call by accessing the online, real-time webcast at http://ir.churchilldownsincorporated.com/events.cfm or b ...

Churchill Downs Incorporated (NASDAQ:CHDN) Q2 2024 Results Conference Call July 25, 2024 9:00 AM ET Company Participants Sam Ullrich - Vice President, Investor Relations Bill Carstanjen - Chief Executive Officer Marcia Dall - Chief Financial Officer Bill Mudd - President and Chief Operating Officer Brad Blackwell - General Counsel Conference Call Participants Barry Jonas - Truist Securities David Katz - Jefferies Dan Politzer - Wells Fargo Joe Stauff - SIG Jeff Stantial - Stifel Jordan Bender - JMP Securiti ...

For the quarter ended June 2024, Churchill Downs (CHDN) reported revenue of $890.7 million, up 15.9% over the same period last year. EPS came in at $2.89, compared to $2.24 in the year-ago quarter. Revenue- Gaming: $274.20 million versus $256.60 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.5% change. Revenue- TwinSpires: $151.70 million versus $154.27 million estimated by three analysts on average. Compared to the year-ago quarter, this numbe ...

Revenue Growth - Net revenue increased by $153.6 million, driven by a $110.4 million increase from the Live and Historical Racing segment due to a record-breaking Derby Week at Churchill Downs Racetrack and the opening of the Rosie's Emporia property[142]. - Net revenue for the second quarter of 2024 was $890.7 million, an increase of $122.2 million (15.9%) compared to $768.5 million in 2023[168]. - Net revenue increased by $122.2 million, driven by a $79.7 million increase from the Live and Historical Racing segment due to a record-breaking Derby Week and the opening of the Rosie's Emporia property[187]. - Total revenue for the three months ended June 30, 2024, was $890.7 million, an increase of $122.2 million compared to $768.5 million for the same period in 2023[198]. Income and Earnings - Operating income rose by $110.8 million, primarily due to a $79.3 million increase from the Live and Historical Racing segment and a $15.3 million increase in the TwinSpires segment[142]. - Net income attributable to Churchill Downs Incorporated decreased by $9.0 million, impacted by an $86.2 million after-tax gain on the sale of the Arlington property in the prior year[142]. - Net income attributable to Churchill Downs Incorporated for the three months ended June 30, 2024, was $209.3 million, a 66.3% increase from $143.0 million in the same period of 2023[175]. - Net income attributable to Churchill Downs Incorporated increased by $66.3 million, driven by an $18.5 million decrease in after-tax non-cash impairment costs and a $5.8 million decrease in transaction expenses[196]. Adjusted EBITDA - Adjusted EBITDA increased by $100.7 million, with a $74.4 million increase from the Live and Historical Racing segment and a $22.5 million increase from the TwinSpires segment[142]. - Adjusted EBITDA for the second quarter of 2024 was $444.8 million, up $81.1 million (22.3%) from $363.7 million in 2023[168]. - Adjusted EBITDA for the three months ended June 30, 2024, was $444.8 million, reflecting an increase of 81.1% from $363.7 million in the same period of 2023[195]. - Adjusted EBITDA rose by $81.1 million, with significant contributions from the Live and Historical Racing segment ($55.7 million increase) and the Gaming segment ($17.3 million increase) due to the opening of the Terre Haute Casino Resort[196]. Segment Performance - Live and Historical Racing revenue increased by $82.2 million, driven by a record-breaking Derby Week contributing $37.6 million[170]. - TwinSpires revenue rose by $20.8 million, with a $14.7 million increase from Exacta and a $1.8 million increase from online sports betting agreements[170]. - Gaming revenue increased by $26.5 million, primarily due to the opening of the Terre Haute Casino Resort in April 2024[170]. - Live and Historical Racing segment reported a revenue increase of $82.2 million, from $408.0 million in Q2 2023 to $490.2 million in Q2 2024[198]. - TwinSpires revenue rose by $38.5 million, with a $29.0 million increase from Exacta and a $4.0 million increase from online sports betting agreements[216]. - Gaming revenue increased by $18.1 million, primarily due to the opening of the Terre Haute Casino Resort, which contributed $33.9 million[216]. Expenses and Liabilities - The company experienced an $11.8 million increase in selling, general, and administrative expenses during the quarter[142]. - Operating expenses rose by $17.8 million for the three months ended June 30, 2024, primarily due to new property openings and the Exacta Transaction[188]. - Total liabilities increased by $61.2 million, driven mainly by increased accounts payable and taxes payable[189]. - Total liabilities increased to $6,123.1 million as of June 30, 2024, compared to $6,061.9 million at the end of 2023, reflecting a change of $61.2 million[204]. Assets and Capital Expenditures - Total assets as of June 30, 2024, were $7,170.1 million, up from $6,955.5 million as of December 31, 2023[162]. - Total assets increased by $214.6 million, primarily due to increased capital expenditures at the Terre Haute Casino Resort and Churchill Downs Racetrack[189]. - Total capital expenditures for the six months ended June 30, 2024, were $292.0 million, down from $312.4 million in the same period of 2023[214]. - The company anticipates project capital investments of approximately $450.0 to $550.0 million in 2024 for various renovations and new gaming facilities[206]. Debt and Financial Agreements - The company had total debt of $4,893.1 million as of June 30, 2024, an increase of $19.1 million from December 31, 2023[180]. - The company closed an amendment of the Credit Agreement on July 3, 2024, extending the maturity date of the Revolver and Term Loan A from 2027 to 2029[180]. - The company had $1.8 billion outstanding under its Credit Agreement, with exposure to market risk from variable interest rates[231]. - A one-percentage point increase in the SOFR rate would reduce net income and cash flows from operating activities by $13.0 million[231]. Future Plans and Developments - The company plans to open The Rose Gaming Resort in Virginia in late September 2024, contributing to future growth[188]. - The company intends to appeal a ruling that declared the 2021 Historical Horse Racing Act unconstitutional, which could impact HRM results in Louisiana[167].

FOR IMMEDIATE RELEASE Contact: Sam Ullrich (502) 638-3906 Sam.Ullrich@kyderby.com CHURCHILL DOWNS INCORPORATED REPORTS 2024 SECOND QUARTER RESULTS LOUISVILLE, Ky. (July 24, 2024) - Churchill Downs Incorporated (Nasdaq: CHDN) (the "Company", "CDI", "we") today reported business results for the second quarter ended June 30, 2024. Company Highlights | CONSOLIDATED RESULTS | | | | | | --- | --- | --- | --- | --- | | | | | Second Quarter | | | (in millions, except per share data) | | 2024 | | 2023 | | Net revenu ...