Churchill Downs (CHDN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Churchill Downs (CHDN) reported revenue of $768.5 million, up 31.9% over the same period last year. EPS came in at $2.24, compared to $1.95 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $795.19 million, representing a surprise of -3.36%. The company delivered an EPS surprise of -10.40%, with the consensus EPS estimate being $2.50.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Churchill Downs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Revenues- Live and Historical Racing: $385 million compared to the $380.60 million average estimate based on two analysts.
Net Revenues- Gaming: $245.90 million versus the two-analyst average estimate of $257.80 million. The reported number represents a year-over-year change of +33.4%.
Net Revenues- TwinSpires: $137.40 million versus $142.95 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +0.4% change.
Adjusted EBITDA- All Other: -$17.10 million compared to the -$17.80 million average estimate based on two analysts.
Adjusted EBITDA- Gaming: $123.40 million versus the two-analyst average estimate of $133.75 million.
Adjusted EBITDA- TwinSpires: $33.90 million versus $37.70 million estimated by two analysts on average.
Adjusted EBITDA- Live and Historical Racing: $223.50 million versus the two-analyst average estimate of $224.40 million.
View all Key Company Metrics for Churchill Downs here>>>
Shares of Churchill Downs have returned -2.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Churchill Downs, Incorporated (CHDN) : Free Stock Analysis Report
