Churchill Downs Incorporated (CHDN) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 663M | 665.9M | 683M | 934.4M | 642.6M | 624.2M | 628.5M | 890.7M | 590.9M | 561.2M | 572.5M | 768.5M | 559.5M | 480.1M | 383.1M | 582.5M | 364.1M | 364.8M | 393M | 515.1M |
| Revenue Growth % | 3.17% | 6.68% | 8.67% | 4.91% | 8.75% | 11.23% | 9.78% | 15.9% | 5.61% | 16.89% | 49.44% | 31.93% | 53.67% | 31.61% | -2.52% | 13.08% | 12.27% | 31.13% | 16.34% | 178.28% |
| Cost of Goods Sold | 460M | 469.2M | 478.7M | 542.3M | 453.1M | 444.5M | 442.9M | 502.7M | 405.7M | 400.2M | 408.5M | 469.8M | 387.5M | 348.8M | 280.5M | 343.2M | 270.9M | 281.4M | 287.3M | 335.1M |
| COGS % of Revenue | 69.38% | 70.46% | 70.09% | 58.04% | 70.51% | 71.21% | 70.47% | 56.44% | 68.66% | 71.31% | 71.35% | 61.13% | 69.26% | 72.65% | 73.22% | 58.92% | 74.4% | 77.14% | 73.1% | 65.06% |
| Gross Profit | 203M | 196.7M | 204.3M | 392.1M | 189.5M | 179.7M | 185.6M | 388M | 185.2M | 161M | 164M | 298.7M | 172M | 131.3M | 102.6M | 239.3M | 93.2M | 83.4M | 105.7M | 180M |
| Gross Margin % | 30.62% | 29.54% | 29.91% | 41.96% | 29.49% | 28.79% | 29.53% | 43.56% | 31.34% | 28.69% | 28.65% | 38.87% | 30.74% | 27.35% | 26.78% | 41.08% | 25.6% | 22.86% | 26.9% | 34.94% |
| Gross Profit Growth % | 7.12% | 9.46% | 10.08% | 1.06% | 2.32% | 11.61% | 13.17% | 29.9% | 7.67% | 22.62% | 59.84% | 24.82% | 84.55% | 57.43% | -2.93% | 32.94% | 21.04% | 59.77% | 19.03% | 710.81% |
| Operating Expenses | 59M | 71.5M | 106.3M | 64.4M | 54.9M | 52.9M | 59.8M | 58M | 58.9M | 54.8M | 51.7M | 73.1M | 52.3M | 51.5M | 38.4M | 38.4M | 35.9M | 38.8M | 36.1M | 33.4M |
| OpEx % of Revenue | 8.9% | 10.74% | 15.56% | 6.89% | 8.54% | 8.47% | 9.51% | 6.51% | 9.97% | 9.76% | 9.03% | 9.51% | 9.35% | 10.73% | 10.02% | 6.59% | 9.86% | 10.64% | 9.19% | 6.48% |
| Selling, General & Admin | 59M | 71.5M | 59.3M | 60.9M | 54.5M | 0 | 59.8M | 57.4M | 54.8M | 51.7M | 50.2M | 48.1M | 52.3M | 51.5M | 38.4M | 38.4M | 35.9M | 38.8M | 36.1M | 33.4M |
| SG&A % of Revenue | 8.9% | 10.74% | 8.68% | 6.52% | 8.48% | - | 9.51% | 6.44% | 9.27% | 9.21% | 8.77% | 6.26% | 9.35% | 10.73% | 10.02% | 6.59% | 9.86% | 10.64% | 9.19% | 6.48% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | 2.08% | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 1000K | 1000K | 400K | 1000K | -100K | 600K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 144M | 125.2M | 98M | 327.7M | 134.6M | 126.8M | 125.9M | 330M | 126.3M | 106.2M | 112.3M | 225.6M | 119.9M | 79.8M | 64.2M | 200.9M | 57.3M | 44.6M | 69.6M | 146.6M |
| Operating Margin % | 21.72% | 18.8% | 14.35% | 35.07% | 20.95% | 20.31% | 20.03% | 37.05% | 21.37% | 18.92% | 19.62% | 29.36% | 21.43% | 16.62% | 16.76% | 34.49% | 15.74% | 12.23% | 17.71% | 28.46% |
| Operating Income Growth % | 6.98% | -1.26% | -22.16% | -0.7% | 6.57% | 19.4% | 12.11% | 46.28% | 5.34% | 33.08% | 74.92% | 12.29% | 109.25% | 78.92% | -7.76% | 37.04% | 22.7% | 96.48% | 39.2% | 36750% |
| EBITDA | 202M | 186.4M | 156.1M | 387.1M | 195.4M | 167.2M | 176.9M | 380.5M | 174.6M | 154.8M | 155.7M | 268.7M | 160M | 124M | 91.7M | 227M | 83.7M | 70.9M | 97.1M | 175.1M |
| EBITDA Margin % | 30.47% | 27.99% | 22.86% | 41.43% | 30.41% | 26.79% | 28.15% | 42.72% | 29.55% | 27.58% | 27.2% | 34.96% | 28.6% | 25.83% | 23.94% | 38.97% | 22.99% | 19.44% | 24.71% | 33.99% |
| EBITDA Growth % | 3.38% | 11.48% | -11.76% | 1.73% | 11.91% | 8.01% | 13.62% | 41.61% | 9.13% | 24.84% | 69.79% | 18.37% | 91.16% | 74.89% | -5.56% | 29.64% | 14.81% | 78.59% | 31.93% | 706.91% |
| D&A (Non-Cash Add-back) | 58M | 61.2M | 58.1M | 59.4M | 60.8M | 40.4M | 51M | 50.5M | 48.3M | 48.6M | 43.4M | 43.1M | 40.1M | 44.2M | 27.5M | 26.1M | 26.4M | 26.3M | 27.5M | 28.5M |
| EBIT | 144M | 158.9M | 136.8M | 366.2M | 168.2M | 114M | 159.2M | 367.8M | 172.2M | 142.5M | 149.7M | 264.4M | 273.6M | 51.6M | 109.6M | 515M | 79.9M | 75.3M | 109.4M | 171.9M |
| Net Interest Income | -72M | -75.6M | -75.6M | -74.2M | -72.3M | -72.8M | -73.1M | -73.5M | -70.4M | -70.6M | -67.9M | -65.2M | -64.7M | -54.7M | -36.2M | -35.1M | -21.3M | -21.6M | -21.7M | -22M |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | -72M | 75.6M | 75.6M | 74.2M | 72.3M | 72.8M | 73.1M | 73.5M | 70.4M | 70.6M | 67.9M | 65.2M | 64.7M | 54.7M | 36.2M | 35.1M | 21.3M | 21.6M | 21.7M | 22M |
| Other Income/Expense | -31M | -41.9M | -36.8M | -35.7M | -38.7M | -35.8M | -39.8M | -35.7M | -24.5M | -34.3M | -30.5M | -26.4M | 89M | -82.9M | 9.2M | 279M | 1.3M | 9.1M | 18.1M | 3.3M |
| Pretax Income | 113M | 83.3M | 61.2M | 292M | 95.9M | 91M | 86.1M | 294.3M | 101.8M | 71.9M | 81.8M | 199.2M | 208.9M | -3.1M | 73.4M | 479.9M | 58.6M | 53.7M | 87.7M | 149.9M |
| Pretax Margin % | 17.04% | 12.51% | 8.96% | 31.25% | 14.92% | 14.58% | 13.7% | 33.04% | 17.23% | 12.81% | 14.29% | 25.92% | 37.34% | -0.65% | 19.16% | 82.39% | 16.09% | 14.72% | 22.32% | 29.1% |
| Income Tax | -30M | 31.8M | 22M | 74.4M | 18.7M | 18.7M | 19.9M | 84.1M | 21.4M | 14.3M | 20.8M | 56.2M | 53.2M | -4.1M | 16.4M | 140.6M | 16.5M | 10.4M | 26.3M | 41.6M |
| Effective Tax Rate % | -26.55% | 38.18% | 35.95% | 25.48% | 19.5% | 20.55% | 23.11% | 28.58% | 21.02% | 19.89% | 25.43% | 28.21% | 25.47% | 132.26% | 22.34% | 29.3% | 28.16% | 19.37% | 29.99% | 27.75% |
| Net Income | 83M | 49.8M | 37.9M | 216.9M | 76.7M | 71.7M | 64.4M | 209.3M | 80.4M | 57.6M | 61M | 143M | 155.7M | 1M | 57M | 339.3M | 42.1M | 43.3M | 61.4M | 108.3M |
| Net Margin % | 12.52% | 7.48% | 5.55% | 23.21% | 11.94% | 11.49% | 10.25% | 23.5% | 13.61% | 10.26% | 10.66% | 18.61% | 27.83% | 0.21% | 14.88% | 58.25% | 11.56% | 11.87% | 15.62% | 21.02% |
| Net Income Growth % | 8.21% | -30.54% | -41.15% | 3.63% | -4.6% | 24.48% | 5.57% | 46.36% | -48.36% | 5660% | 7.02% | -57.85% | 269.83% | -97.69% | -7.17% | 213.3% | 16.62% | 153.22% | 42.13% | 191.16% |
| Net Income (Continuing) | 83M | 51.5M | 39.2M | 217.6M | 77.2M | 72.3M | 66.2M | 210.2M | 80.4M | 57.6M | 61M | 143M | 155.7M | 1000K | 57M | 339.3M | 42.1M | 43.3M | 61.4M | 108.3M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 48M | 46.1M | 44.2M | 22.5M | 21.4M | 19.7M | 17.9M | 16.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.16 | 0.71 | 0.53 | 3.00 | 1.02 | 0.95 | 0.86 | 2.79 | 1.08 | 0.76 | 0.79 | 1.86 | 2.04 | 0.01 | 0.74 | 4.40 | 0.54 | 0.56 | 0.79 | 1.38 |
| EPS Growth % | 13.73% | -25.26% | -38.37% | 7.53% | -5.56% | 25% | 8.86% | 50% | -47.06% | 5701.53% | 6.76% | -57.73% | 277.78% | -97.66% | -6.33% | 218.84% | 17.39% | 154.55% | 46.3% | 192% |
| EPS (Basic) | 1.16 | 0.71 | 0.54 | 3.03 | 1.02 | 0.95 | 0.87 | 2.82 | 1.09 | 0.77 | 0.81 | 1.90 | 2.07 | 0.01 | 0.75 | 4.45 | 0.55 | 0.56 | 0.80 | 1.40 |
| Diluted Shares Outstanding | 70M | 71.8M | 71M | 72.3M | 74.4M | 74.6M | 74.6M | 74.6M | 74.7M | 75.8M | 77.1M | 76.9M | 76.2M | 76.2M | 76.8M | 77.2M | 77.6M | 78M | 78.4M | 78.6M |
| Basic Shares Outstanding | 70M | 71.4M | 70.3M | 71.7M | 73.7M | 73.9M | 73.9M | 73.9M | 74.1M | 75.1M | 75.2M | 75.3M | 75.2M | 75.2M | 75.6M | 76.2M | 76.6M | 76.6M | 77.2M | 77.4M |
| Dividend Payout Ratio | 37.35% | 1.2% | - | 0.05% | 39.24% | 0.7% | 0.16% | 0.1% | 35.57% | 0.52% | 0.16% | - | 17.15% | 30% | - | - | 61.05% | - | - | - |