Every material Form 8-K Churchill Downs filed with the SEC in 2026, 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' 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.
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
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
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
Churchill Downs reported second quarter 2026 results, with all-time record net revenue of $980 million, up 5% from $934 million a year earlier. Net income attributable to the company rose 11% to $241 million, and diluted EPS was $3.42 versus $2.99, so headline revenue and profit both improved for shareholders.
Net revenue of $980 million, up $46 million or 5% from the prior year quarter
Net income attributable to CDI of $241 million, up $24 million or 11%; diluted EPS of $3.42 versus $2.99
All-time record Adjusted EBITDA of $477 million, up $26 million or 6%
Net bank leverage was 3.7x at the end of the second quarter; results are to be discussed on a conference call on July 30, 2026
Churchill Downs reported first quarter 2026 results for the three months ended March 31, 2026. Net revenue rose to a record $663 million, up $20 million or 3%, and net income attributable to the company rose $6 million or 8% to $83 million, which lifts diluted EPS to $1.16 from $1.02. Shareholders get a higher profit on higher sales, though interest expense and a rise in income tax provision were also reported in the period.
Net revenue of $663 million, up $20 million or 3% from $643 million in the prior year quarter
Net income attributable to the company of $83 million, up 8%; diluted EPS of $1.16 versus $1.02
Adjusted EBITDA of $257 million, up $12 million or 5%; net bank leverage of 3.8x at quarter end
Company returned $31 million to shareholders through dividends in the quarter; conference call scheduled for April 23, 2026 at 9 a.m. ET
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.
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
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.
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 →