Key Highlights:

  • Net revenue increased USD 46 million in the most recently reported quarter.
  • The Live and Historical Racing segment contributed USD 33 million of the quarterly increase.
  • A record breaking Derby Week at Churchill Downs Racetrack was cited as a key driver.
  • Wagering Services and Solutions contributed USD 9 million and Gaming contributed USD 4 million to the increase.

Churchill Downs, Incorporated (NASDAQ:CHDN) is scheduled to report third quarter results on Wednesday, Oct. 28, after the market close. Consensus estimates call for adjusted earnings per share of USD 1.13 on revenue of USD 695.16 million, against a market capitalization of USD 5.86 billion.

In the most recently reported quarter, net revenue increased USD 46 million, driven by a USD 33 million increase from the Live and Historical Racing segment, primarily due to a record breaking Derby Week at Churchill Downs Racetrack, a USD 9 million increase from the Wagering Services and Solutions segment, and a USD 4 million increase from the Gaming segment.

Segment Contribution

The Live and Historical Racing segment remained the largest contributor to quarterly growth, consistent with the seasonal timing of the Kentucky Derby, while Wagering Services and Solutions and Gaming each posted smaller incremental gains for the period.

Figures to Follow in the Release

Investors can watch net revenue growth against the USD 46 million increase posted last quarter and for segment level contribution from Live and Historical Racing, Wagering Services and Solutions, and Gaming.