Churchill Downs Q1 record revenue $590.9M (+6%); net income down 48% on prior-year gain

Churchill Downs Inc

Record Q1 net revenue $590.9M (+6% YoY); Adj EBITDA $242.5M (+9% YoY); diluted EPS $1.08 vs $2.05.
Net income $80.4M (-48% YoY) due to $86.2M after-tax gain on Arlington sale in prior-year quarter.
Live & Historical revenue +15%, Adj EBITDA +23%; TwinSpires revenue +18%, Adj EBITDA +35% (includes Exacta). Gaming revenue -3% on weather and Lady Luck exit.
Returned capital: $22M buybacks, $123.75M block repurchase from Duchossois, $0.382 dividend (13th consecutive increase).

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Churchill Downs Inc reported the first quarter ended March 31, 2024 results: revenue $590.9, net income $80.4, EPS $1.08.

Period: the first quarter ended March 31, 2024
Revenue: $590.9
Net income: $80.4
EPS: $1.08
Result: reported results

Exact text from the filing

CONSOLIDATED RESULTS First Quarter (in millions, except per share data) 2024 2023 Net revenue $ 590.9 $ 559.5 Net income $ 80.4 $ 155.7 Diluted EPS $ 1.08 $ 2.05

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Source: SEC EDGAR

accession 0000020212-24-000069

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