Fri, May 9, 3:02 PM (38 days ago)
### Canterbury Park Holding Corporation (CPHC) Q1 2025 Financial Summary **Financial Health and Performance:** - **Revenue:** Total net revenues for Q1 2025 were $13,142,000, a 6.8% decrease from $14,098,000 in Q1 2024. - **Profit Margins:** The company reported a net loss of $299,000, or $0.06 per share, compared to a net income of $998,000, or $0.20 per share, in Q1 2024. - **Cash Flow:** Net cash provided by operating activities was $3,374,000, up from $1,616,000 in Q1 2024. Net cash used in investing activities was $891,000, and net cash used in financing activities was $430,000. **Segment Performance:** - **Casino:** Revenue decreased by 8.6% to $9,192,000 due to increased competition and lower average collection revenue rates. - **Pari-Mutuel:** Revenue decreased by 8.2% to $1,078,000 due to fewer race days at other tracks. - **Food and Beverage:** Revenue decreased by 5.9% to $1,625,000, primarily due to lower casino revenue. - **Other:** Revenue increased by 9.3% to $1,246,000, driven by admission revenue from large-scale events. **Operating Expenses:** - Total operating expenses increased by 1.3% to $12,492,000, with notable increases in salaries, benefits, depreciation, and advertising. **Earnings Changes:** - Adjusted EBITDA decreased by 39.6% to $1,939,000, reflecting the overall decrease in income from operations. **Trends and Uncertainties:** - The company faces significant competition and regulatory challenges. - Future growth depends on successful real estate development and strategic partnerships. - The company is exploring additional financing options for significant development projects. **Future Operations Impact:** - The company plans to complete the barn relocation and redevelopment project, with estimated remaining costs of $2,000,000. - The company expects to spend $1,907,000 in tax increment financing over the next six months for the private redevelopment plan. - The company believes it has sufficient liquidity and capital resources to meet ongoing and planned development expenses. **Conclusion:** Canterbury Park Holding Corporation faced a challenging Q1 2025 with decreased revenues and a net loss. However, the company remains focused on strategic development and partnerships to drive future growth and profitability. The company's liquidity and capital resources are expected to support ongoing operations and planned development projects.