Churchill Downs Q2 revenue slightly beats estimates as record-breaking Derby Week drove higher results

Churchill Downs Incorporated

29/07/2026 21:13

Overview
US gaming and racing operator's Q2 revenue rose 5%, a slight beat of analyst expectations
Adjusted EBITDA and net income hit all-time highs, with net income up 11% yr/yr
Record Kentucky Derby Week drove higher broadcast, ticketing, sponsorship, and wagering revenues

Outlook
Churchill Downs did not provide specific guidance or forecasts for upcoming quarters or the full yr

Result Drivers
DERBY WEEK PERFORMANCE - Record Kentucky Derby Week drove increased broadcast, ticketing, sponsorship, and wagering revenues at Churchill Downs Racetrack
HISTORICAL RACING VENUES - Revenue and Adjusted EBITDA rose at Kentucky and Virginia HRM venues, though Central Virginia faced increased competition
EQUITY INVESTMENTS - Higher equity income from Rivers Des Plaines in Illinois and Miami Valley Gaming in Ohio contributed to results

Company press release: ID:nGNX7SJ7Zm

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Slight Beat*
$980 mln
$978.16 mln (11 Analysts)
Q2 EPS
 
$3.42
 
Q2 Net Income
 
$241 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 $142.00, about 59.2% above its July 28 closing price of $89.22
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads
July 28 - Caesars Entertainment Q2 revenue slightly beats estimates on regional growth
July 28 - BetMGM cuts outlook as prediction market competition grows
July 29 - US court revives lawsuit claiming AI software fueled price-gouging by New Jersey casinos 

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(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.)