Churchill Downs Q1 revenue rises 3%, slightly beats estimates

Churchill Downs

22/04/2026 21:15

Overview

U.S. gaming and racing operator's Q1 revenue rose 3%, slightly beating analyst expectations

Adjusted EPS for Q1 beat consensus, rising to $1.21

Company agreed to acquire Preakness Stakes and Black-Eyed Susan Stakes IP for $85 mln

Outlook

Churchill Downs did not provide specific financial guidance for the current qtr or full yr

Result Drivers

LIVE AND HISTORICAL RACING GROWTH - Revenue and Adjusted EBITDA rose on increased contributions from Kentucky, Virginia, and New Hampshire venues

GAMING SEGMENT DECLINE - Revenue fell due to the cessation of HRM operations in Louisiana and lower results in Florida and Mississippi, partly offset by gains in New York, Indiana, and Maryland

WAGERING SERVICES AND SOLUTIONS - Segment revenue rose mainly from retail sports betting, while Adjusted EBITDA benefited from lower legal expenses and sports betting growth

Company press release: ID:nGNXPn5Nw

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Slight Beat*
$663 mln
$661.99 mln (12 Analysts)
Q1 Adjusted EPS
Beat
$1.21
$1.004 (5 Analysts)
Q1 EPS
$1.16
Q1 Net Income
$83 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "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 $138.00, about 51.9% above its April 21 closing price of $90.84

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)