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Churchill Downs (CHDN)
NASDAQ:CHDN
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.92Last Year’s EPS
$0.86Same Quarter Last Year
Strong Buy
Based on 9 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 23, 2024
|% Change Since: -1.13%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
The earnings call reflected a strong performance with record-breaking financial results, particularly from HRM expansions in Virginia and Kentucky. However, there were challenges with the Derby City Downtown venue and increased competition in regional gaming. Overall, the highlights significantly outweigh the lowlights, showing a positive outlook for the company's growth and future projects.Company Guidance
During the call, Churchill Downs Incorporated provided several key financial metrics, indicating strong performance and growth potential. The company achieved record net revenue and adjusted EBITDA for the third quarter of 2024, with a 10% increase in revenue and an 8% rise in adjusted EBITDA compared to the previous year. The Live and Historical Racing segment, along with the Gaming segment, delivered record third quarter revenue and adjusted EBITDA. The Virginia Historical Racing Machine (HRM) properties were significant contributors, with a 40% increase in adjusted EBITDA, reflecting $15 million in growth. The TwinSpires segment also posted record adjusted EBITDA, benefiting from the Exacta business. The strategic expansion in Virginia and Kentucky, including the opening of the Dumfries HRM facility and planned developments, are expected to drive further growth. Additionally, the company reported $591 million in free cash flow for the first nine months of 2024, a 32% increase year-over-year, supporting ongoing capital management and a 7% dividend increase.Record-Breaking Revenue and Growth
The company delivered all-time record net revenue and all-time record adjusted EBITDA in the third quarter. There was a 10% growth in revenue and 8% growth in adjusted EBITDA on a quarter-over-quarter basis.
Significant Progress in Virginia HRM Expansion
Virginia HRM properties increased adjusted EBITDA by $15 million or 40% compared to the prior year quarter, driven by operational improvements and game layout strategies.
Successful Launch of The Rose in Virginia
The new HRM property, The Rose, was successfully opened with 1,650 machines, with a grand opening planned for November 7, indicating strong initial customer interest.
Kentucky HRM Properties' Strong Performance
Kentucky HRM properties performed well with Oak Grove showing strong market penetration and margins, and Turfway Park and Newport exhibiting growth with improving margins.
Increase in Dividend
The Board of Directors approved a 7% increase in the dividend, marking the 14th consecutive year of increased dividends per share.
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CHDN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CHDN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 23, 2024 | $133.74 | $139.73 | +4.48% |
| Jul 24, 2024 | $136.85 | $137.56 | +0.52% |
| Apr 24, 2024 | $123.03 | $128.86 | +4.74% |
| Feb 21, 2024 | $117.09 | $119.51 | +2.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Churchill Downs (CHDN) report earnings?
Churchill Downs (CHDN) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is Churchill Downs (CHDN) earnings time?
Churchill Downs (CHDN) earnings time is at Feb 19, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CHDN EPS forecast?
CHDN EPS forecast for the fiscal quarter 2024 (Q4) is $0.92.
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