Churchill Downs Q4 revenue up 7%, beats expectations

Churchill Downs

25/02/2026 21:11

Corrects to remove reference to the Marshall Yards Racing & Gaming opening as a result driver

Overview

U.S. entertainment company's Q4 2025 revenue rose 7%, beating analyst expectations

Net income for Q4 2025 fell 28% yr/yr

Company opened new gaming facilities and announced $180-$200 mln investment in New Hampshire

Outlook

Company expects project capital expenditures of $180 to $220 mln in 2026

Result Drivers

RACING REVENUE GROWTH - Q4 2025 revenue increased due to growth in Kentucky and Virginia HRM venues, with new venue openings contributing

NEW VENUE - Opening of Roseshire Gaming Parlor in Virginia boosted Q4 revenue

NET INCOME DECLINE - Q4 net income fell due to increased transaction, pre-opening expenses, and a valuation allowance for deferred tax assets

Company press release: ID:nGNX1ScJMN

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Beat
$665.90 mln
$658.72 mln (12 Analysts)
Q4 EPS
$0.71
Q4 Net Income
$51.30 mln


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 $140.50, about 46.1% above its February 24 closing price of $96.19

The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 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.)