Canterbury Park Holding 2025 Q3 Earnings Sharp Net Income Drop of 75.9%

Canterbury Park Holding (CPHC) reported Q3 2025 results marked by a significant decline in profitability. The company’s net income and EPS fell sharply below 2024 levels, with no guidance adjustments announced. CEO Randy Sampson emphasized ongoing growth initiatives but acknowledged challenges in reversing revenue trends.

Revenue

Canterbury Park Holding’s total revenue for Q3 2025 declined 5.0% to $18.3 million, driven by a 9.7% drop in Casino revenue to $8.9 million and an 11.1% decrease in Other revenue to $2.6 million. Pari-mutuel revenue remained relatively stable at $3.2 million, while Food and Beverage revenue surged 13.1% to $3.5 million, reflecting improved operational efficiency and event-driven demand.

Earnings/Net Income

The company’s EPS plummeted 75.0% to $0.10, with net income declining 75.9% to $487,283. The sharp drop underscores heightened operational pressures and reduced profitability, despite cost-cutting measures and stable operating expenses. This performance indicates a significant deterioration in earnings quality.

Price Action

The stock price of Canterbury Park Holding has edged up 0.48% during the latest trading day, has edged up 0.78% during the most recent full trading week, and has dropped 7.22% month-to-date.

Post-Earnings Price Action Review

The strategy of buying Canterbury Park Holding (CPHC) shares after a revenue raise on the financial report released date and holding for 30 days shows poor performance over the past three years. The cumulative return is -25.8%, significantly underperforming the market. This indicates that this strategy is not profitable based on the historical data.

CEO Commentary

CEO Randy Sampson highlighted challenges in reversing declining casino revenues and per-patron wagering levels, while emphasizing growth in food and beverage operations. He noted the successful launch of the Boardwalk Kitchen & Bar and progress on the Canterbury Commons development. Sampson reiterated confidence in the company’s long-term value proposition, citing strong balance sheet metrics and real estate synergies.

Guidance

No explicit forward-looking guidance was provided in the earnings report. The company remains focused on operational efficiency, real estate development, and expanding entertainment offerings.

Additional News

Canterbury Park Holding recently completed the Boardwalk Kitchen & Bar, an upscale restaurant and entertainment venue, which has driven positive customer engagement. The company also advanced its 19,000-seat amphitheater project, slated to open in summer 2026, and reported progress on the Canterbury Commons development. Additionally, the company’s tax increment financing (TIF) receivables are expected to generate payments by late 2025, enhancing liquidity.