Churchill Downs Earnings Calls

Q4 2024 (Upcoming)
Release date Feb 19, 2025
EPS estimate $0.98
EPS actual -
Revenue estimate 620.211M
Revenue actual -
Expected change +/- 3.15%
Q3 2024 Missed
$0.97 (-8.49%)
Release date Oct 23, 2024
EPS estimate $1.06
EPS actual $0.97
EPS Surprise -8.49%
Revenue estimate 619.913M
Revenue actual 628.5M
Revenue Surprise 1.39%
Q2 2024 Beat
$2.89 (6.64%)
Release date Jul 24, 2024
EPS estimate $2.71
EPS actual $2.89
EPS Surprise 6.64%
Revenue estimate 858.586M
Revenue actual 890.7M
Revenue Surprise 3.74%
Q1 2024 Beat
$1.13 (36.14%)
Release date Apr 24, 2024
EPS estimate $0.83
EPS actual $1.13
EPS Surprise 36.14%
Revenue estimate 566.753M
Revenue actual 590.9M
Revenue Surprise 4.26%

Last 4 Quarters for Churchill Downs

Below you can see how CHDN performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.

Q1 2024 Beat
Release date Apr 24, 2024
Fiscal end date Mar 31, 2024
Price on release $123.39
EPS estimate $0.83
EPS actual $1.13
EPS surprise 36.14%
Date Price
Apr 18, 2024 $119.30
Apr 19, 2024 $118.96
Apr 22, 2024 $120.74
Apr 23, 2024 $123.50
Apr 24, 2024 $123.39
Apr 25, 2024 $129.23
Apr 26, 2024 $129.44
Apr 29, 2024 $130.14
Apr 30, 2024 $129.00
4 days before 3.43%
4 days after 4.55%
On release day 4.73%
Change in period 8.13%
Q2 2024 Beat
Release date Jul 24, 2024
Fiscal end date Jun 30, 2024
Price on release $137.25
EPS estimate $2.71
EPS actual $2.89
EPS surprise 6.64%
Date Price
Jul 18, 2024 $140.37
Jul 19, 2024 $140.11
Jul 22, 2024 $140.74
Jul 23, 2024 $141.68
Jul 24, 2024 $137.25
Jul 25, 2024 $137.96
Jul 26, 2024 $142.58
Jul 29, 2024 $145.00
Jul 30, 2024 $142.95
4 days before -2.22%
4 days after 4.15%
On release day 0.517%
Change in period 1.84%
Q3 2024 Missed
Release date Oct 23, 2024
Fiscal end date Sep 30, 2024
Price on release $134.13
EPS estimate $1.06
EPS actual $0.97
EPS surprise -8.49%
Date Price
Oct 17, 2024 $140.60
Oct 18, 2024 $138.01
Oct 21, 2024 $135.49
Oct 22, 2024 $134.23
Oct 23, 2024 $134.13
Oct 24, 2024 $140.14
Oct 25, 2024 $140.25
Oct 28, 2024 $141.17
Oct 29, 2024 $144.16
4 days before -4.60%
4 days after 7.48%
On release day 4.48%
Change in period 2.53%
Q4 2024 (Upcoming)
Release date Feb 19, 2025
Fiscal end date Dec 30, 2024
Price on release -
EPS estimate $0.98
EPS actual -
Date Price
Feb 10, 2025 $122.43
Feb 11, 2025 $121.76
Feb 12, 2025 $120.90
Feb 13, 2025 $123.09
Feb 14, 2025 $122.11

Churchill Downs Earnings Call Transcript Summary of Q3 2024

  • Financial Performance:
    • Record Revenues: Achieved all-time record net revenue and adjusted EBITDA in Q3 2024, with strong growth across all segments, including Live & Historical Racing and Gaming.
    • Segment Growth: The Virginia HRM properties were significant contributors, increasing adjusted EBITDA by 40% year-over-year. Continued operational improvements are anticipated in existing properties.
    • Free Cash Flow: Generated a record $591 million in free cash flow during the first nine months of 2024, a 32% increase from the same period in the previous year.
  • Growth and Expansion Projects:
    • Kentucky Derby Enhancements: Progress on the Starting Gate Pavilion project aims to enhance seating and amenities, transforming 10,000 bleacher seats into approximately 16,000 premium hospitality experiences.
    • Virginia HRM Expansion: Opened "The Rose" HRM property in Dumfries on October 21, with plans for a grand opening on November 7. In addition, construction is planned for a new upscale HRM venue in Henrico County.
    • New Kentucky Venue: On track to open a new HRM venue in Owensboro in Q1 2025, with a budget of $40-50 million earmarked for the Calvert City project, expected to open in early 2026.
  • Strategic Focus:
    • Market Differentiation: The company views Virginia’s gaming environment as a high-growth area, with the ongoing development of thoroughbred racing expected to further boost profitability and engagement.
    • M&A Strategy: The company remains open to opportunistic mergers and acquisitions that align with their growth vision. They emphasize organic growth while enhancing operational efficiencies in acquired businesses.
  • Future Outlook:
    • Race Calendar Growth: Virginia plans to increase the number of race days from 27 this year to 44 in 2025 and 50 in 2026, which will help drive more business to HRM properties.
    • Sustained Growth: Management expresses confidence in its ability to drive future revenue through both expansions and operational improvements despite competitive pressures in certain markets.
  • Capital Management:
    • Dividend Increase: A 7% increase in dividends was announced, marking the 14th consecutive year of dividend growth, to be paid on January 3, 2025, to shareholders of record on December 5, 2024.
    • Debt Leverage: The bank covenant net leverage was reported at 4.0 times, with expectations for a decline in 2025 as investments yield returns.
  • Conclusion: Churchill Downs Inc. remains on track for significant growth, fueled by strategic investments in HRMs, enhanced offerings for the Kentucky Derby, and expansion into new markets in Virginia and Kentucky. The focus on customer experience and operational improvements, combined with a strong balance sheet and solid cash flows, positions the company favorably for future developments.

Churchill Downs Earnings History

Earnings Calendar

FAQ

When is the earnings report for CHDN?
Churchill Downs (CHDN) has scheduled its earnings report for Feb 19, 2025 after the markets close.

What is the CHDN price-to-earnings (P/E) ratio?
CHDN P/E ratio as of Feb 14, 2025 (TTM) is 21.70.

What is the CHDN EPS forecast?
The forecasted EPS (Earnings Per Share) for Churchill Downs (CHDN) for the first fiscal quarter 2024 is $0.98.

What are Churchill Downs's retained earnings?
On its balance sheet, Churchill Downs reported retained earnings of $628.50 million for the latest quarter ending Sep 30, 2024.

What Is an Earnings Report?
An earnings report is usually issued quarterly (Q1, Q2, Q3 & Q4) by public companies to report their performance. Earnings reports typically include net income, earnings per share, earnings from continuing operations, and net sales. Looking at the earnings report investors can start gauge the financial health of the company and make even better decisions whether to buy, sell, or stay in the company. Fundamental analysts and value investors will typically hunt for stocks that continue to show good financial ratios and use a decline as an exit point. One of the most anticipated numbers for analysis is earnings per share because it indicates how much the company earned for its shareholders. The report will also indicate a possible dividend.

Earnings Report Content
Earnings reports generally provide an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. These figures are typically measured against previous quarters/years. Furthermore, the earnings report usually includes a summary and analysis from the CEO or company spokesman, alongside a more general view of the financials and future forecast.

What To Know About Earnings Reports?
Announcement of earnings for a stock, particularly for well followed large-capitalization stocks, can move the market. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. Despite good reports, stocks may very well fall if the investors were expecting more or they believe the next quarter will not be as good. Investors always try to be ahead of the market and future earnings/losses are often discounted into the current price of the stock. It is natural for stocks to start to move in either direction a few days before the release of an earnings report.
Click to get the best stock tips daily for free!
ABOUT CHURCHILL DOWNS
Churchill Downs
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports,...
GOLDEN STAR
Ticker Change Signal Date
T
TBIL
$49.90
0.0802% Feb 12
I
IBTF
$23.33
0.0429% Feb 12
SKT
$33.58
2.00% Feb 12
BSY
$46.63
1.33% Feb 11
IBN
$29.02
0.482% Feb 11

Top Fintech Company

StockInvest.us featured in The Global Fintech Index 2020 as the top Fintech company of the country.

Full report by FINDEXABLE