Churchill Downs Incorporated filed its Form 10-Q for the quarterly period ended September 30, 2026, with the SEC on October 28, 2026, reporting third-quarter net income attributable to the company of $80 million and nine-month net income of $404 million.

Key Highlights

  • Q3 net revenue of $696 million, up from $683 million in the same quarter of 2025, according to the filing.
  • Q3 net income attributable to Churchill Downs Incorporated was $80 million, compared with $38 million in Q3 2025.
  • Diluted earnings per share for Q3 2026 were $1.15, versus $0.54 in Q3 2025.
  • Nine-month total net revenue reached $2,339 million, compared with $2,260 million for the same period in 2025.
  • Total assets stood at $7,467 million as of September 30, 2026, per the condensed consolidated balance sheet.
  • The company repurchased common stock during Q3 2026 for $48 million, reducing shares outstanding to 69 million as of September 30, 2026.
  • Shares outstanding at October 21, 2026 were 68,548,342, as reported on the filing's cover page.

Churchill Downs Q3 2026 Financial Results: Revenue Growth and Improved Profitability

According to the filing, Churchill Downs Incorporated (NASDAQ:CHDN) reported total net revenue of $696 million for the three months ended September 30, 2026, an increase from $683 million in the comparable prior-year quarter. The Live and Historical Racing segment contributed $308 million, Wagering Services and Solutions contributed $116 million, and Gaming contributed $272 million for the quarter. Operating income for the quarter was $143 million, compared with $98 million in Q3 2025, with the prior-year period reflecting $46 million in asset impairments that did not recur in Q3 2026.

For the nine months ended September 30, 2026, the company disclosed total net revenue of $2,339 million compared with $2,260 million in the prior-year period. Nine-month operating income was $643 million versus $560 million a year earlier. Net income attributable to Churchill Downs Incorporated for the nine-month period was $404 million, or $5.73 diluted earnings per share, compared with $332 million, or $4.55 diluted earnings per share, for the same period in 2025.

The condensed consolidated balance sheet, as of September 30, 2026, showed total assets of $7,467 million and total liabilities of $6,064 million, resulting in total Churchill Downs Incorporated shareholders' equity of $1,379 million. Cash and cash equivalents were $167 million, down from $201 million at December 31, 2025. Interest expense, net was $69 million for Q3 2026, compared with $75 million in Q3 2025. Equity in income of unconsolidated affiliates contributed $38 million in Q3 2026 versus $35 million in Q3 2025, according to the filing.

What Was Disclosed

Churchill Downs Incorporated filed its quarterly report for the period ended September 30, 2026, disclosing increased revenue across segments, higher net income compared with the year-ago quarter, a share repurchase of $48 million in Q3 2026, and total assets of $7,467 million.