Every material Form 8-K Churchill Downs filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Churchill Downs reported third-quarter 2024 results for the period ended September 30, 2024, with net revenue, net income attributable to the company, and Adjusted EBITDA all above the year-earlier quarter. The company also said its board approved a $0.409 per share annual dividend, a seven percent increase and the fourteenth consecutive annual increase, payable January 3, 2025.
Net revenue was $628.5 million in the third quarter of 2024, compared with $572.5 million a year earlier.
Net income attributable to the company was $65.4 million, or $0.86 per diluted share, compared with $61.0 million, or $0.79 per diluted share, in the third quarter of 2023.
Adjusted EBITDA was $235.3 million, compared with $218.2 million in the third quarter of 2023.
The board approved a $0.409 annual dividend per share, payable January 3, 2025, to shareholders of record as of December 6, 2024.
Churchill Downs Incorporated disclosed that director Robert L. Fealy resigned from its board effective July 23, 2024, in connection with his retirement. The board size drops from nine to eight directors, and the company states the resignation was not due to any disagreement over operations, policies or practices.
Robert L. Fealy notified the company of his resignation on July 23, 2024, effective immediately
Board size decreases from nine directors to eight, effective July 23, 2024
The company states the resignation was not due to a disagreement with the company or board
CEO Bill Carstanjen praised Fealy's long-term service in a press release dated July 24, 2024
Churchill Downs reported second quarter 2024 results for the three months ended June 30, 2024, with net revenue of $890.7 million, up from $768.5 million a year earlier. Net income attributable to the company rose to $209.3 million from $143.0 million, and diluted EPS was $2.79 versus $1.86, which benefits shareholders on both revenue and profit measures. The filing gives no updated full-year guidance.
Net revenue of $890.7 million vs. $768.5 million in Q2 2023
Net income attributable to CDI of $209.3 million vs. $143.0 million; diluted EPS of $2.79 vs. $1.86
Adjusted EBITDA of $444.8 million vs. $363.7 million; the Kentucky Derby Week contributed a $37.6 million revenue increase at Churchill Downs Racetrack
Repurchased 93,874 shares for about $13.0 million in Q2 2024; $179.9 million of authority remained at June 30, 2024
Churchill Downs closed an amendment to its senior secured credit agreement that extends the maturity of its revolving credit facility and Term Loan A from 2027 to 2029, and makes other changes to the agreement. The filing does not disclose borrowing amounts or pricing changes beyond the existing SOFR-based structure, so the effect is a longer repayment runway for the company's bank debt.
Revolver and Term Loan A maturities extended from 2027 to July 3, 2029
Sixth Amendment includes a springing maturity if other material debt maturing before July 3, 2029 is not refinanced at least 91 days before its stated maturity
Loans continue to bear interest at SOFR plus a margin based on leverage ratio; JPMorgan Chase Bank, N.A. is administrative agent
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Churchill Downs filing is on SEC EDGAR ↗. 8-K briefs of other companies →