CHDNChurchill Downs Incorporated

$6B

Q1 2017 Earnings

Consumer Cyclical Gambling, Resorts & Casinos

Income Statement

Revenue

$280M-3.1% YoY

Gross Profit

$53M18.8% margin

Operating Income

$18M6.3% margin

Net Income

$7M2.6% margin

EPS (Diluted)

$0.07

QoQ Revenue Growth

+0.4%

Cash Flow

Operating Cash Flow

$75M

Free Cash Flow

$37M

Stock-Based Comp.

$5M

Balance Sheet

Total Assets

$2.3B

Total Liabilities

$1.6B

Stockholders' Equity

$689M

Cash & Equivalents

$55M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$280M	$288M	-3.1%
Gross Profit	$53M	$43M	+21.2%
Operating Income	$18M	$6M	+177.8%
Net Income	$7M	$3M	+160.7%

Revenue Segments

Big Fish Games

$112M40%

Casino Segment

$88M31%

TwinSpires

$52M19%

Racing Segment

$26M9%

Other Segments

$6M2%

Intersegment Eliminations

-$4M-1%

CHDN Q1 2017 Earnings — Churchill Downs Incorporated Revenue & Financial Results | Market Cap Arena