Every 10-Q that Churchill Downs Inc (CHDN) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow CHDN and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full CHDN filings page.
Churchill Downs Incorporated (CHDN) reported third-quarter 2026 revenue of $696 million versus $683 million a year earlier and net income attributable to the company of $80 million versus $38 million. Operating income was $143 million versus $98 million. For the nine months ended September 30, revenue was $2.339 billion versus $2.260 billion, net income attributable was $404 million versus $332 million, and Adjusted EBITDA was $998 million versus $958 million. The company said prior-year net-income comparisons included a $35 million after-tax impairment charge for Q3 and a $36 million after-tax decrease for the nine-month period, primarily related to impairment.
CHDN is exploring a sale of nine wholly owned regional gaming properties as part of a portfolio review; they represent $280 million to $300 million of annual Adjusted EBITDA, including retail sportsbook and market access reported within Wagering Services and Solutions. In August 2026, it reacquired 49% of United Tote from NYRA Content Management Solutions, LLC. Net debt was $4.063 billion at September 30, compared with $5.067 billion at December 31, 2025. On October 27, the board approved a repurchase program of up to $750 million, including, and not in addition to, the $306 million remaining under the July 2025 program at the close of trading that day.
Churchill Downs Incorporated reported stronger Q2 2026 results. Net revenue rose to $980 million from $934 million, driven mainly by Live and Historical Racing, which benefited from a record‑breaking Derby Week. Net income attributable to the company increased to $241 million from $217 million, with diluted EPS at $3.42 versus $2.99. Adjusted EBITDA grew to $477 million from $451 million, led by higher contributions from all three operating segments.
For the first half of 2026, net revenue reached $1,643 million and Adjusted EBITDA $734 million. Operating cash flow was $512 million, supporting capital spending of $117 million and substantial debt reduction; net debt declined to $4,110 million from $5,067 million at year‑end. The company maintained $861 million of revolver capacity, held $295 million in cash and restricted cash, and had $430 million remaining under its July 2025 share repurchase authorization while advancing projects such as Rockingham Grand Casino.
Churchill Downs Incorporated reported higher quarterly results for the three months ended March 31, 2026. Net revenue rose to $663 million from $643 million, driven mainly by growth at Kentucky, Virginia, and New Hampshire historical racing machine venues and modest gains in Wagering Services and Solutions.
Net income attributable to Churchill Downs increased to $83 million from $77 million, with diluted EPS up to $1.16 from $1.02. Adjusted EBITDA grew to $257 million from $245 million, led by an $11 million increase in Live and Historical Racing and a $4 million increase in Wagering Services and Solutions, partly offset by slightly lower Gaming results after ceasing Louisiana HRM operations.
The company generated $295 million in operating cash flow and reduced total debt to $4.95 billion, mainly by paying down its revolver. Shareholders’ equity rose to $1.10 billion. Subsequent to quarter-end, Churchill Downs agreed to acquire $85 million of Preakness and Black-Eyed Susan intellectual property rights, to be licensed to Maryland for an annual fee.
Churchill Downs Incorporated reported higher third‑quarter revenue but lower earnings. Net revenue rose to $683.0 million from $628.5 million a year ago, led by Live and Historical Racing at $300.0 million and Wagering Services and Solutions at $118.0 million, while Gaming was $265.0 million. Operating income fell to $98.0 million from $125.9 million as asset impairments increased. Net income attributable to the company was $38.1 million versus $65.4 million, or $0.54 diluted EPS versus $0.86.
Results included an $85.1 million non‑cash impairment of Chasers’ gaming rights and a $40.0 million gain on settling a related liability. The company acquired 90% of Casino Salem on Aug 27, 2025, recording an indefinite‑lived gaming rights intangible of $196.6 million. Year‑to‑date, net revenue reached $2,260.0 million and diluted EPS was $4.55.
Cash from operating activities was $673.8 million year‑to‑date. The board authorized a new $500.0 million repurchase program in July; remaining authority was $461.5 million at Sept 30, 2025. Year‑to‑date repurchases totaled 3,879,741 shares for $393.3 million. Shares outstanding were 69,728,742 at Oct 15, 2025.