---
schema_version: "secwatch.filing_event.v1"
accession: "0000020212-23-000082"
form_type: "8-K"
ticker: "CHDN"
cik: "0000020212"
company_name: "Churchill Downs Inc"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T13:49:16.277719+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000020212-23-000082
- form_type: 8-K
- ticker: CHDN
- cik: 0000020212
- company_name: Churchill Downs Inc
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/20212/000002021223000082/0000020212-23-000082-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/20212/000002021223000082/chdn-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000020212-23-000082
- JSON: https://secwatch.observer/filing/0000020212-23-000082.json
- Plain text: https://secwatch.observer/filing/0000020212-23-000082.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/20212/000002021223000082/0000020212-23-000082-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.