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Churchill Downs: Q1 Earnings Snapshot

April 27, 2022 GMT

LOUISVILLE, Ky. (AP) _ Churchill Downs Inc. (CHDN) on Wednesday reported first-quarter profit of $42.1 million.

On a per-share basis, the Louisville, Kentucky-based company said it had profit of $1.08. Earnings, adjusted for non-recurring costs, came to $1.18 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The racetrack operator and gambling company posted revenue of $364.1 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $345 million.

Churchill Downs shares have dropped 18% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $196.42, a decrease of 10% 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