Churchill Downs Incorporated (CDI) has announced the successful closure of an amendment to extend the maturity date of its revolving credit facility and term loan A facility from 2027 to 2029. The company also made certain other changes to its existing credit agreement.
In terms of financial metrics, CDI reported a significant increase in its revenue for the period. The company's revenue rose to $502 million, marking an increase of 12% compared to the same period last year. Operating income also experienced a notable surge, reaching $98 million, representing a 19% increase from the previous period.
Additionally, CDI's adjusted EBITDA saw a substantial improvement, reaching $165 million, a 16% increase from the comparative period. The company's net cash provided by operating activities stood at $130 million, reflecting a 22% increase from the previous period.
Furthermore, CDI's net income attributable to the company's stockholders demonstrated a robust performance, amounting to $58 million, showing a 30% increase from the same period last year. Diluted earnings per share (EPS) also displayed a positive trend, rising to $1.47, marking a 26% increase from the comparative period.
Following these announcements, the company's shares moved 1.1%, and are now trading at a price of $140.0. If you want to know more, read the company's complete 8-K report here.
