Churchill Downs delivered solid top- and bottom-line growth in Q1 FY2026, with revenue, operating income, and net income all increasing year-over-year — driven by operational strength in Live and Historical Racing and Wagering Services and Solutions.
Key takeaways
Revenue was $663.0M (up 3.2% from $642.6M in Q1 FY2025), reflecting continued demand across core racing and wagering platforms.
Operating margin expanded to 21.6%, indicating improved efficiency in converting revenue to operating profit.
Capital expenditures decreased year-over-year, contributing to lower cash outflows from investing activities.