CHDN Stock - Churchill Downs Incorporated
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $2.73B | $2.46B | $1.81B | $1.60B | $1.05B |
| Gross Profit | $938.50M | $795.70M | $566.40M | $446.10M | $193.50M |
| Gross Margin | 34.3% | 32.3% | 31.3% | 27.9% | 18.4% |
| Operating Income | $709.00M | $564.00M | $321.80M | $284.40M | $60.20M |
| Net Income | $426.80M | $417.30M | $439.40M | $249.10M | $-81,900,000 |
| Net Margin | 15.6% | 17.0% | 24.3% | 15.6% | -7.8% |
| EPS | $5.73 | $5.55 | $5.80 | $3.23 | $0.17 |
Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games. It also offers streaming video of live horse races, replays, and an assortment of racing and handicapping information; and provides the Bloodstock Research Information Services platform for horse racing statistical data. In addition, the company manufactures and operates pari-mutuel wagering systems for racetracks, off-track betting facilities, and other pari-mutuel wagering businesses. Churchill Downs Incorporated was founded in 1875 and is headquartered in Louisville, Kentucky.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| November 18th 2025 | Wells Fargo | Initiation | Overweight | $115 |
| June 23rd 2025 | JP Morgan | Initiation | Overweight | $116 |
| April 11th 2025 | Barclays | Initiation | Overweight | $125 |
| August 12th 2024 | BofA Securities | Upgrade | Buy | $155← $145 |
| April 15th 2024 | Wells Fargo | Upgrade | Overweight | $141← $137 |
| March 26th 2024 | Mizuho | Initiation | Buy | $142 |
| January 5th 2024 | Wells Fargo | Downgrade | Equal Weight | $137← $135 |
| October 12th 2023 | CapitalOne | Initiation | Overweight | $144 |
| October 3rd 2023 | Stifel | Initiation | Buy | $148 |
| March 17th 2023 | Truist | Initiation | Buy | $300 |
| January 17th 2023 | JMP Securities | Initiation | Mkt Outperform | $273 |
| December 8th 2022 | JP Morgan | Resumed | Neutral | $243 |
Earnings History & Surprises
CHDNEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 21, 2026 | — | — | — | — |
Q1 2026 | Feb 18, 2026 | $0.83 | — | — | — |
Q4 2025 | Oct 22, 2025 | $0.97 | $1.09 | +12.4% | ✓ BEAT |
Q3 2025 | Jul 23, 2025 | $3.03 | $3.10 | +2.3% | ✓ BEAT |
Q2 2025 | Apr 23, 2025 | $1.04 | $1.07 | +2.9% | ✓ BEAT |
Q1 2025 | Feb 19, 2025 | $0.98 | $0.92 | -6.1% | ✗ MISS |
Q4 2024 | Oct 23, 2024 | $1.06 | $0.97 | -8.5% | ✗ MISS |
Q3 2024 | Jul 24, 2024 | $2.71 | $2.89 | +6.6% | ✓ BEAT |
Q2 2024 | Apr 24, 2024 | $0.83 | $1.13 | +36.1% | ✓ BEAT |
Q1 2024 | Feb 21, 2024 | $0.74 | $0.86 | +16.2% | ✓ BEAT |
Q4 2023 | Oct 25, 2023 | $0.86 | $0.87 | +1.2% | ✓ BEAT |
Q3 2023 | Jul 26, 2023 | $2.60 | $2.24 | -13.8% | ✗ MISS |
Q2 2023 | Apr 26, 2023 | $0.87 | $0.98 | +12.6% | ✓ BEAT |
Q1 2023 | Feb 22, 2023 | $0.83 | $0.73 | -12.0% | ✗ MISS |
Q4 2022 | Oct 26, 2022 | $0.65 | $0.81 | +24.6% | ✓ BEAT |
Q3 2022 | Jul 27, 2022 | $1.92 | $1.95 | +1.6% | ✓ BEAT |
Q2 2022 | Apr 27, 2022 | $0.57 | $0.59 | +3.5% | ✓ BEAT |
Q1 2022 | Feb 23, 2022 | $0.56 | $0.64 | +14.3% | ✓ BEAT |
Q4 2021 | Oct 27, 2021 | $0.74 | $0.81 | +9.5% | ✓ BEAT |
Q3 2021 | Jul 28, 2021 | $1.28 | $1.54 | +20.3% | ✓ BEAT |
Latest News
Wells Fargo Initiates Coverage On Churchill Downs with Overweight Rating, Announces Price Target of $115
📈 PositiveMacquarie Maintains Outperform on Churchill Downs, Maintains $155 Price Target
📈 PositiveBarclays Maintains Overweight on Churchill Downs, Raises Price Target to $132
📈 PositiveChurchill Downs shares are trading higher after the company reported better-than-expected Q3 financial results.
📈 PositiveChurchill Downs Plans To Invest $280M - $300M On New Four-Story Victory Run Project
📈 PositiveChurchill Downs Q3 Adj. EPS $1.09 Beats $0.98 Estimate, Sales $683.000M Beat $670.908M Estimate
📈 PositiveSusquehanna Maintains Positive on Churchill Downs, Lowers Price Target to $124
📈 PositiveJP Morgan Maintains Overweight on Churchill Downs, Lowers Price Target to $128
➖ NeutralIGT's Everi Signs 7-Year Deal With Churchill Downs To Provide FinTech And Cash Access Solutions Across Gaming Venues
📈 PositiveAt Churchill Downs you can bet on a Derby horse or on the race track itself
➖ NeutralFrequently Asked Questions about CHDN
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