Recap: Churchill Downs Q2 Earnings

Shares of Churchill Downs CHDN moved higher by 2.92% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 118.73% year over year to ($0.53), which beat the estimate of ($0.55).

Revenue of $185,100,000 declined by 61.23% year over year, which beat the estimate of $119,950,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Price Action

Company's 52-week high was at $167.53

Company's 52-week low was at $52.90

Price action over last quarter: Up 33.67%

Company Overview

Churchill Downs Inc is a gambling company that operates the Churchill Downs racetrack, which hosts the Kentucky Derby. It operates through five business segments: Racing, Casinos, Online Wagering, and Other Investments and Corporate segments. Four racetracks comprise the racing segment: Churchill Downs, Arlington, Fair Grounds, and Calder Racing. The Racing segment earns revenue through wager racetrack commissions and OTBs as well as various fees and television sponsorships. Casino revenue is earned through slot machines, video poker, video lottery terminals, table games, hotel stays, and food and beverage sales. The Online Wagering segment includes its TwinSpires business. Most of the company revenue is generated from the Casinos business in the United States.