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Broke on Nov 06, 2026 · measured target $116.72 (+19%). Details →
Oct 28, 4:29 PM ET
Churchill Downs' board approved a $750 million share buyback that replaces the prior $500 million program from July 2025. The new authorization includes the $306 million remaining under the old program as of October 27, 2026, and has no time limit.
- New repurchase program authorized at $750 million, announced October 27, 2026.
- Replaces the $500 million program authorized in July 2025; $306 million remained under it at the close of trading on October 27, 2026.
- Repurchases may be made in the open market, with or without a 10b5-1 plan, or through privately negotiated transactions, and may be suspended or discontinued at any time.
Read the filing on SEC.gov ↗
Oct 28, 4:27 PM ET
Churchill Downs Incorporated appointed Michael Tucker as a Class II director on October 27, 2026, filling a seat created by a board size increase. The board now has eight members, and Tucker has not yet been named to any committees.
- Michael Tucker appointed Class II director effective immediately, with term expiring at the 2028 Annual Meeting of Shareholders
- Tucker is founder and managing partner of Orvieto Partners, L.P., and has more than 30 years of investment management experience
- Board determined Tucker is independent under Nasdaq listing standards; compensation consistent with other non-employee directors
Read the filing on SEC.gov ↗
Oct 28, 4:14 PM ET
Churchill Downs reported third-quarter 2026 net revenue of $696 million, up $13 million or 2% from a year earlier, and net income attributable to the company of $80 million, up from $38 million. The prior-year quarter included a $35 million after-tax impairment charge, and excluding one-time items, net income rose $10 million or 26%, according to the release. The board also approved a new $750 million share repurchase program and a 7% dividend increase to $0.469 per share.
- Net revenue of $696 million, up $13 million or 2% from $683 million in Q3 2025
- Diluted EPS of $1.15 versus $0.54 a year earlier; adjusted diluted EPS of $1.23 versus $1.09
- Adjusted EBITDA of $264 million, up $2 million or 1%
- New $750 million repurchase program approved October 27, 2026; annual dividend of $0.469 per share payable January 5, 2027
Read the filing on SEC.gov ↗
Sep 28, 9:23 AM ET
Churchill Downs closed an amendment to its senior secured credit agreement that extends its revolving credit facility and Term Loan A from 2029 to 2031. It also closed a new $500 million senior secured Term Loan B due 2033, which the company plans to use to repay existing term loan and revolver borrowings, fund fees, and for general corporate purposes. The filing does not report earnings or guidance, so its effect on shareholders depends on the terms of the new debt.
- Revolver and Term Loan A maturities extended from 2029 to September 25, 2031
- New $500 million Term Loan B due September 25, 2033, at SOFR plus 175 basis points, issued at 99.875% of principal
- Net proceeds to repay term loan B-1 and revolving loans, pay fees and expenses, and for working capital
- Company plans to fund redemption of its 5.50% Senior Notes due 2027 on October 19, 2026 from the revolver
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.