trending Market Intelligence /marketintelligence/en/news-insights/trending/feBoAePLcfPTXSihWsu6_g2 content esgSubNav
In This List

Churchill Downs profit beats consensusin Q4

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


Churchill Downs profit beats consensusin Q4

Churchill Downs Inc. said its fourth-quarter normalized net income amounted to $1.33 per share, compared with the S&P Capital IQ consensus estimate of 45 cents per share.

EPS rose year over year from 51 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $23.0 million, an increase from $8.8 million in the prior-year period.

The normalized profit margin fell to 4.0% from 5.2% in the year-earlier period.

Total revenue increased 62.0% year over year to $272.4 million from $168.1 million, and total operating expenses rose 59.3% year over year to $237.2 million from $148.9 million.

Reported net income totaled $7.5 million, or 43 cents per share, compared to a loss of $13.8 million, or a loss of 81 cents per share, in the year-earlier period.

For the year, the company's normalized net income totaled $5.91 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $4.68.

EPS rose 56.0% from $3.79 in the prior year.

Normalized net income was $103.8 million, an increase of 55.8% from $66.6 million in the prior year.

Full-year total revenue grew 49.3% year over year to $1.21 billion from $812.2 million, and total operating expenses grew 49.6% year over year to $1.03 billion from $691.7 million.

The company said reported net income rose 40.5% on an annual basis to $65.2 million, or $3.71 per share, in the full year, from $46.4 million, or $2.64 per share.