Quarterly ResultJul 29, 2026, 04:34 PM
Churchill Downs Q2 Net Revenue $980M, +5%; Adjusted EBITDA $477M, +6%
AI Summary
Churchill Downs reported strong second-quarter 2026 results, with net revenue increasing 5% to an all-time record of $980 million and Adjusted EBITDA rising 6% to an all-time record of $477 million. Net income attributable to CDI grew 11% to $241 million, resulting in diluted EPS of $3.42. The company achieved record-breaking performance during Kentucky Derby Week, contributing significantly to the Live and Historical Racing and Wagering Services segments.
Key Highlights
- Net revenue increased 5% to an all-time record of $980 million.
- Adjusted EBITDA rose 6% to an all-time record of $477 million.
- Net income attributable to CDI grew 11% to $241 million.
- Diluted EPS attributable to CDI was $3.42, up from $2.99.
- Kentucky Derby Week achieved record contribution to Adjusted EBITDA.
- Live and Historical Racing revenue increased $34 million to $575 million.
- Wagering Services and Solutions revenue grew $10 million to $178 million.
- Net bank leverage stood at 3.7x at quarter-end.
Price Impact
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