Churchill Downs Earnings: Here’s Why the Stock is Down Now

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Churchill Downs Inc. (NASDAQ:CHDN) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.88%.

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Churchill Downs Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 44% to $0.14 in the quarter versus EPS of $0.25 in the year-earlier quarter.

Revenue: Rose 6.18% to $158.5 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Churchill Downs Inc. reported adjusted EPS income of $0.14 per share. By that measure, the company missed the mean analyst estimate of $0.19. It missed the average revenue estimate of $171 million.

Quoting Management: “CDI’s strong performance in 2012 was reflected in the 27.5 percent increase in the market price of Churchill Downs common stock from $52.13 at the end of 2011 to $66.45 at the end of 2012, and our second, consecutive 20 percent dividend increase, from $0.60 to $0.72 per share,” said CDI Chairman and Chief Executive Officer Robert L. Evans. “I want to thank our customers for their continued loyalty and our employees for their exceptional contributions to CDI’s success in 2012.”

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