Churchill Downs: Q2 Earnings Snapshot
LOUISVILLE, Ky. — LOUISVILLE, Ky. — Churchill Downs Inc. (CHDN) on Wednesday reported second-quarter profit of $209.3 million.
The Louisville, Kentucky-based company said it had profit of $2.79 per share. Earnings, adjusted for one-time gains and costs, came to $2.89 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.71 per share.
The racetrack operator and gambling company posted revenue of $890.7 million in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $853.5 million.
Churchill Downs shares have increased 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $137.61, an increase of 5.5% in the last 12 months.
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