Racing, gaming, and entertainment company Churchill Downs (NASDAQ:CHDN) will be reporting earnings tomorrow after market close. Here’s what investors should know.

Churchill Downs beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $624.2 million, up 11.2% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EBITDA estimates but a miss of analysts’ Horse Racing revenue estimates.

Is Churchill Downs a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Churchill Downs’s revenue to grow 9.1% year on year to $644.6 million, improving from the 5.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.04 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Churchill Downs has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Churchill Downs’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Nike’s revenues decreased 9.3% year on year, beating analysts’ expectations by 2.3%, and Levi's reported revenues up 3.1%, falling short of estimates by 0.8%. Nike traded down 5.4% following the results while Levi's was also down 8.2%.

Read our full analysis of Nike’s results here and Levi’s results here.

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