Churchill Downs Q3 Revenue Rises 8.7% to $683M; Q4 Growth Seen at 6%
Churchill Downs posted Q3 revenue of $683 million, up 8.7% year on year, beating EPS estimates but missing adjusted operating income projections. Analysts project Q4 revenue growth of 6%, down from last year’s 11.2%, while the stock has slid 7.4% over the past month with an average price target of $138.08.
1. Q3 Results Recap
Churchill Downs reported third-quarter revenue of $683 million, marking an 8.7% year-on-year increase. The company beat analysts’ EPS estimates but fell short of consensus on adjusted operating income.
2. Q4 Revenue and Analyst Expectations
Wall Street forecasts fourth-quarter revenue to rise 6% year over year, a slowdown from the 11.2% gain recorded in the same quarter last year. Analysts have largely maintained these estimates over the past 30 days despite the company’s history of revenue misses.
3. Market Reaction and Peer Comparison
Shares of Churchill Downs are down 7.4% over the last month, trading well below the $138.08 average analyst target. By comparison, Rush Street Interactive delivered 27.8% revenue growth and DraftKings saw a 42.8% increase, with each stock moving significantly on their results.