Churchill Downs Incorporated reported first quarter 2026 earnings per share of $1.21, beating estimates by 20%. Revenue reached $663 million, up 3.2%, with adjusted EBITDA of $257 million and margins of 38.8%. The company, which operates the Kentucky Derby, HRM gaming venues, and the TwinSpires platform, generated $2.9 billion in trailing revenue. Growth is driven by HRM expansion and Derby-related upside, including a 2026 NBC renewal and sponsorship gains expected to add $15 to $20 million in EBITDA. The annual dividend is $0.44 per share, yielding 0.52%, with a payout ratio of 8.15% and 15 consecutive years of increases.
Churchill Downs IncorporatedQ1 EPS beat estimates by 20%, revenue up 3.2%, and adjusted EBITDA of $257 million with strong margins.
MGM Resorts International