Brief: Churchill Downs Q2 EPS USD 2.99

Churchill Downs

23/07/2025 21:02

Overview

Churchill Downs Q2 revenue rises 5% to $934.4 mln, beating analysts' expectations

Adjusted EBITDA reaches record $450.9 mln, up 1% from prior year

Co announces $500 mln share repurchase program

Outlook

Company expects favorable impact from new federal tax provisions on cash flow

Company to acquire 90% of Casino Salem for $180 mln

Company to develop gaming, entertainment destination in Salem, NH

Result Drivers

KENTUCKY DERBY - Record wagering during Derby Week and increased licensing/sponsorship revenue boosted results

HRM VENUES - Revenue growth driven by Virginia and Kentucky HRM venues, with notable increases from Northern Virginia and Louisville

GAMING DECLINE - Gaming segment revenue fell due to cessation of operations in Louisiana and higher state gaming taxes

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$934.40 mln
$924.80 mln (10 Analysts)
Q2 EPS
$2.99
Q2 Net Income
$216.90 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the casinos & gaming peer group is "buy"

Wall Street's median 12-month price target for Churchill Downs Inc is $132.56, about 18.5% above its July 22 closing price of $108.06

The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nGNX64YPrv

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)