CHDN — what changed in the latest 10-Q
A section-by-section comparison of CHDN's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-28 vs the prior 10-Q · 2026-07-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +43 | −34 | ~24 | 59 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~3 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-28
The Company announced on July 29, 2026 that it is exploring a sale of nine wholly owned regional gaming properties as part of a comprehensive review of the Company’s operational portfolio and long-term capital allocation priorities. These assets represent $280 to $300 million of annual Adjusted EBIT…
Three Months Ended September 30,Nine Months Ended September 30,
Net income attributable to Churchill Downs Incorporated803842 40433272
Three Months Ended September 30, 2026, Compared to Three Months Ended September 30, 2025
•Net revenue increased $13 million driven by an $8 million increase from the Live and Historical Racing segment, a $2 million decrease from the Wagering Services and Solutions segment, and a $7 million increase from the Gaming segment.
Text removed vs the prior filing · source: 10-Q · 2026-07-29
Net income attributable to Churchill Downs Incorporated24121724 32429430
Three Months Ended June 30, 2026, Compared to Three Months Ended June 30, 2025
•Net revenue increased $46 million driven by a $33 million increase from the Live and Historical Racing segment primarily due to a record-breaking Derby Week at Churchill Downs Racetrack, a $9 million increase from the Wagering Services and Solutions segment, and a $4 million increase from the Gamin…
•Operating income increased $30 million driven by a $21 million increase from the Live and Historical Racing segment primarily due to a record-breaking Derby Week at Churchill Downs Racetrack, a $4 million increase from the Wagering Services and Solutions segment, a $3 million increase from the Gami…
•Net income attributable to Churchill Downs Incorporated increased $24 million. The following impacted the comparability of the Company's net income for the three months ended June 30, 2026 compared to the three months ended June 30, 2025: a $4 million after-tax decrease in transaction, pre-opening,…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice