Churchill Downs Q3 net revenue $572.5M (+49% YoY); record Adjusted EBITDA $218.2M; dividend raised 7%

Churchill Downs Inc

Record net revenue $572.5M (+49% YoY); net income $61.0M (+7%); diluted EPS $0.79.
Adjusted EBITDA record $218.2M (+34%); Live & Historical Racing EBITDA +134%, Gaming +10%, TwinSpires +9%.
Completed Exacta Systems acquisition Aug 22; opened seventh Rosie's in Emporia, VA on Sept 26.
Annual dividend raised 7% to $0.382/share, payable Jan 5, 2024 to holders of record Dec 1, 2023.
Repurchased $37.3M in Q3; net bank leverage 4.1x; $232.9M remaining buyback authority.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Churchill Downs Inc reported third quarter ended September 30, 2023 results: revenue $572.5 million, net income $61.0 million, EPS $0.79.

Period: third quarter ended September 30, 2023
Revenue: $572.5 million
Net income: $61.0 million
EPS: $0.79
Result: reported results

Exact text from the filing

CHDN) (the "Company", "CDI") today reported business results for the third quarter ended September 30, 2023. Company Highlights • Third quarter results: – Record net revenue of $572.5 million, up 49% compared to the prior year quarter. – Net income of $61.0 million, up 7% compared to the prior year quarter. – Record Adjusted EBITDA of $218.2 million, up 34% compared

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Source: SEC EDGAR

accession 0000020212-23-000130

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