Churchill Downs Posts $80 Million Q3 Net Income, Revenue Tops Estimates at $696 Million

Churchill Downs Inc. (CHDN) reported third-quarter net income of $80 million on Wednesday, with adjusted earnings of $1.23 per share matching Wall Street expectations. The Louisville, Kentucky-based racetrack operator and gambling company posted revenue of $696 million, exceeding the $694.2 million forecast by three analysts surveyed by Zacks Investment Research. On a per-share basis, net income came to $1.15, with the adjusted figure excluding non-recurring costs. The results matched the average analyst estimate of $1.23 per share.