Churchill Downs (CHDN) Reports Q4 Earnings: What Key Metrics Have to Say

For the quarter ended December 2025, Churchill Downs (CHDN) reported revenue of $665.9 million, up 6.7% over the same period last year. EPS came in at $0.97, compared to $0.92 in the year-ago quarter.

The reported revenue represents a surprise of +0.78% over the Zacks Consensus Estimate of $660.73 million. With the consensus EPS estimate being $0.85, the EPS surprise was +14.56%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Churchill Downs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Revenue- Gaming: $250.3 million versus $249.06 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -2.8% change.
• Net Revenue- Wagering Services & Solutions: $104.9 million versus the four-analyst average estimate of $103.17 million.
• Revenue- Live and Historical Racing: $319.4 million versus $308.09 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +15.9% change.
• Adjusted EBITDA- All Other: $-26 million versus the two-analyst average estimate of $-23.45 million.
• Adjusted EBITDA- Wagering Services & Solutions: $42 million versus the two-analyst average estimate of $37.05 million.
• Adjusted EBITDA- Gaming: $108.9 million versus $113.04 million estimated by two analysts on average.
• Adjusted EBITDA- Live and Historical Racing: $122.1 million versus $121.65 million estimated by two analysts on average.

View all Key Company Metrics for Churchill Downs here>>>

Shares of Churchill Downs have returned -4% over the past month versus the Zacks S&P 500 composite's -0.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

 
Churchill Downs, Incorporated (CHDN): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research