Churchill Downs Sets New Records with Thrilling Q2 Earnings
Churchill Downs Incorporated recently released its second quarter 2026 earnings report, showcasing a record-breaking performance that surpasses previous records in both net revenue and Adjusted EBITDA. The company's impressive financial results were announced during the Q2 2026 earnings conference call on July 30th.
The Churchill Downs team, led by CEO Bill Carstanjen, reported an all-time high net revenue of $980 million for the quarter. This marks the sixth consecutive record second quarter for both net revenue and Adjusted EBITDA, which stood at a staggering $477 million. The company's financial success can be attributed to several key factors, including the Kentucky Derby.
The 152nd running of the Kentucky Derby on May 2nd was a resounding success, drawing in over 386,000 guests for Derby week, which is equivalent to nearly six Super Bowls or World Cup games. The company made significant enhancements to the event, adding Sunday racing and investing in capital improvements such as the Starting Gate Courtyard and Pavilion, the First Turn, and the Paddock. These upgrades have paid off, with the company building long-term demand and reaping the benefits of its investments.
The partnership with NBC delivered record broadcast revenue and viewership, exceeding 24 million peak viewers. This year's Kentucky Oaks race was also aired in primetime, reaching an average audience of over 2.4 million viewers. The Friday night broadcast created a strong lead-in to the Kentucky Derby, expanding awareness, engagement, and wagering around the flagship event.
Derby week also generated more than 500 million social media impressions, up 84% from 2025. This demonstrates the continued growth in the cultural relevance, reach, and value of the Kentucky Derby. The event remains the highest U.S. horse racing wagering event, with sponsorships and licensing for Derby week also growing in 2026.
The company's CEO, Bill Carstanjen, highlighted the importance of these records, stating that they demonstrate the continued growth in Derby week's cultural relevance, reach, and value. The financial results are a testament to Churchill Downs' ability to deliver record-breaking performances and solidify its position as a leader in the horse racing industry.
Churchill Downs' Q2 2026 earnings report showcases the company's commitment to innovation, investment, and excellence. As the company continues to push boundaries and set new records, investors and fans alike can expect more exciting developments from this iconic brand.
