Churchill Downs: Q2 Earnings Snapshot
LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported second-quarter earnings of $143 million.
On a per-share basis, the Louisville, Kentucky-based company said it had profit of $1.86. Earnings, adjusted for non-recurring costs, came to $2.24 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.50 per share.
The racetrack operator and gambling company posted revenue of $768.5 million in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $795.2 million.
Churchill Downs shares have risen 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $131.58, a rise of 22% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHDN at https://www.zacks.com/ap/CHDN
