LOUISVILLE, Ky. (AP) — LOUISVILLE, Ky. (AP) — Churchill Downs Inc. (CHDN) on Wednesday reported fourth-quarter net income of $1 million.
On a per-share basis, the Louisville, Kentucky-based company said it had profit of 3 cents. Earnings, adjusted for non-recurring costs, came to $1.46 per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.
The racetrack operator and gambling company posted revenue of $480.1 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $475.3 million.
For the year, the company reported profit of $439.4 million, or $11.42 per share. Revenue was reported as $1.81 billion.
Churchill Downs shares have increased 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $242.69, an increase of 13% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHDN at https://www.zacks.com/ap/CHDN
Copyright © 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
