Churchill Downs Q1 net revenue $559.5M record; net income $155.7M; EPS $4.09

Churchill Downs Inc

Record net revenue $559.5M (+54% YoY); net income $155.7M vs $42.1M; diluted EPS $4.09 vs $1.08.
Record Adjusted EBITDA $222.9M (+73% YoY); all three segments posted record first-quarter EBITDA.
Closed sale of Arlington Heights property to Chicago Bears for $197.2M on Feb 15, 2023.
Amended credit facility to increase Term Loan A by $500M (to $1.3B); issued $600M of 6.750% senior notes due 2031.
Board approved two-for-one stock split; distribution date May 19, 2023 to holders of record May 5, 2023.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Churchill Downs Inc reported the first quarter ended March 31, 2023 results: revenue $559.5 million, net income $155.7 million, EPS $4.09.

Period: the first quarter ended March 31, 2023
Revenue: $559.5 million
Net income: $155.7 million
EPS: $4.09
Result: reported results

Exact text from the filing

CHDN) (the "Company", "CDI") today reported business results for the first quarter ended March 31, 2023. Company Highlights • First quarter results: ◦ Record net revenue of $559.5 million compared to $364.1 million in first quarter 2022 ◦ Net income of $155.7 million compared to $42.1 million in first quarter 2022 ◦ Record Adjusted EBITDA of $222.9 million

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Source: SEC EDGAR

accession 0000020212-23-000082

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