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AI brief of an SEC Form 8-K · Churchill Downs (CHDN)

Churchill Downs Q4 revenue rises 7% to $665.9 million; net income falls 28%

Mixed Impact 3 of 5 earnings Written later

Churchill Downs reported fourth quarter and full year 2025 results. Revenue grew in both periods, but net income attributable to the company fell, and diluted EPS declined to $0.71 for the quarter and $5.29 for the year. The company also reported higher Adjusted EBITDA and an increased annual dividend.

Key points

  • Q4 2025 net revenue was $665.9 million, up $41.7 million or 7%; net income attributable to CDI was $51.3 million, down $20.4 million or 28%
  • Diluted EPS was $0.71 in Q4 2025 versus $0.95 a year earlier, and $5.29 for full year 2025 versus $5.68 in 2024
  • Full year 2025 net income attributable to CDI was $383.0 million versus $426.8 million, including a $33.0 million after-tax increase in impairment charges tied mainly to the Chasers' gaming rights
  • Annual dividend of $0.438 per share, a seven percent increase; the company repurchased 4,190,380 shares for $425.3 million in 2025

The filing

CompanyChurchill Downs (CHDN)
Form8-K, current report
Filed with the SECFeb 25, 2026, 4:24 PM ET
Accession number0000020212-26-000023

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:57 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on February 25, 2026.

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.