Earnings ·
Churchill Downs reports Q3 net income of $80M, declares $0.469 dividend, approves $750M buyback
CHDNChurchill Downs Inc
Churchill Downs reported third-quarter net revenue of $696 million and net income attributable to CDI of $80 million, up from $38 million in the prior year period. The company also announced a 7% increase in its annual cash dividend to $0.469 per share, payable January 5, 2027, and approved a new $750 million share repurchase program. Additionally, Churchill Downs entered into a $500 million Term Loan B due 2033 and completed the acquisition of a 49% stake in United Tote Company from NYRA. The company operates live and historical racing venues, online wagering platforms, and regional casino gaming properties.