Churchill Downs Extends Credit Facilities, Reports Revenue Surge

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.

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