Churchill Downs: Q4 Earnings Snapshot
LOUISVILLE, Ky. (AP) _ Churchill Downs Inc. (CHDN) on Wednesday reported fourth-quarter earnings of $43.3 million.
On a per-share basis, the Louisville, Kentucky-based company said it had profit of $1.11. Earnings, adjusted for non-recurring costs, were $1.27 per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The racetrack operator and gambling company posted revenue of $364.8 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $359.1 million.
For the year, the company reported net income of $249.1 million, or $6.35 per share, swinging to a profit in the period. Revenue was reported as $1.6 billion.
Churchill Downs shares have decreased 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $213.87, a drop of 6% in the last 12 months.