earnings
confidence high
sentiment positive
materiality 0.85
Churchill Downs Q2 2022: Record revenue $582.5M, EPS $8.79, Adjusted EBITDA $291.2M
Churchill Downs Inc
2022-Q2 EPS reported
$9.85
revenue$946,600,000
- Net revenue $582.5M (+13% YoY); net income $339.3M; diluted EPS $8.79 vs $2.76.
- Live & Historical Racing segment revenue $275.9M, Adjusted EBITDA $163.9M, driven by unrestricted Kentucky Derby.
- Closed sale of 115.7 acres near Calder Casino for $291M; after-tax gain of $193.6M.
- Repurchased 321,554 shares for $61.5M at avg $191.37; $359.1M remaining authorization.
- P2E acquisition ($2.485B) expected to close before end of 2022; financing arranged.