Churchill Downs Incorporated (CHDN)

Churchill Downs Incorporated reported its first-quarter 2026 results, with earnings per share (EPS) of US$1.19, surpassing analyst estimates by 15%. The Kentucky Oaks race day achieved a record wagering handle of US$89 million, an 18% increase over the previous record. Kentucky Derby wagering figures met expectations. Churchill Downs completed a US$70.8 million share repurchase program in Q1 2026, retiring 686,258 shares. CHDN's stock price has decreased by 7.27% over the past year.

Demand for Churchill Downs, Inc.'s products and services exhibits seasonality, driven by major horse racing events. The Kentucky Derby and Oaks bring peak demand for live racing and hospitality. The TwinSpires online wagering platform experiences record engagement during peak racing seasons. The company's gaming and online betting businesses provide year-round cash generation. New venue openings can create localized spikes in demand.

Churchill Downs, Inc. operates in the Consumer Cyclical sector, focusing on gambling, casinos, gaming, horse racing tracks, and racing & individual sports. The company integrates horse racing with regulated gaming, using its brand and events for live experiences and year-round cash generation through gaming and online betting. Its segments include Live and Historical Racing, Wagering Services and Solutions (TwinSpires), and Gaming.

Churchill Downs, Inc. operates 14 live and historical racing entertainment venues in three states, nine casino gaming properties in eight states, and 13 retail sportsbooks across the United States. Its properties are located in Kentucky, Virginia, New Hampshire, Florida, New York, Louisiana, Iowa, Mississippi, Ohio, Maryland, Maine, Pennsylvania, Illinois and Indiana.

Churchill Downs, Inc.'s brand reputation has been bolstered by the success of its flagship events and strategic expansions. The 151st Kentucky Derby achieved all-time record all-sources handle for the race, day program, and week in 2025. The 152nd Kentucky Oaks in May 2026 saw record wagering and its first primetime broadcast. Churchill Downs has received a consensus rating of "Buy" from analysts.

Approximately 50.05% of Churchill Downs, Inc.'s stock is owned by Institutional Investors, 5.89% by Insiders, and 44.07% by Public Companies and Individual Investors. Major institutional owners include BlackRock, Inc., The Vanguard Group, Inc., and Capital International Investors. Notable individual owners include William C. Carstanjen (CEO) and Daniel P. Harrington.