Canterbury Park Holding Corporation (CPHC) stock soared 7.76% in the current-market trading session on Tuesday at the price of $26.93 despite no recent developments.
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CPHC owns and manages Card Casino and Canterbury Park Racetrack in Minnesota and is the only thoroughbred horse racing facility in the Territory. The Card Casino hosts card matches seven days a week and deals with table and poker games.
CPHC Q4 2021 Earnings Report
On 21st March 2022, CPHC published record financial results for the quarter and year ended 31st December 2021. The company has also delivered its corporate updates.
Net revenues grew 127.9 percent to US$14.0M for Q4 of 2021, compared to US$6.1M for the same period of 2020. Operating costs totaled US$4.9M for Q4 of 2021, a drop of US$1.8M, or 27 percent, compared to US$6.7M for Q4 of 2020. The company reported a net income of US$6.6M with earnings per share of US$1.37 for Q4 of 2021. Net income and earnings per share were US$139,000 and US$0.03 for Q4 of 2020.
Net revenues grew 82.3 percent to US$60.4M for the year 2021, compared to US$33.1M for 2020. Operating costs totaled US$43.0M for the year 2021. It represents a surge of US$8.0M, or 22.9 percent, compared to US$35.0M for 2020. CPHC reported a net income of US$11.8M and earnings per share of US$2.44 for the year ended 31st December 2021. Net income and earnings per share totaled US$1.1M and US$0.23, respectively, for the last year.
CPHC Business Outlook
As CPHC stock entered 2022, it returned capital to the shareholders via the quarterly dividend. CPHC keeps transforming its business and is well-positioned to produce long-term growth and value for its shareholders. Meanwhile, the momentum for Canterbury continues to build.
Canterbury has remained a very strong and prosperous company. The management is hopeful that its flagship projects will be beneficial and attract further high-profile tenants. The team is actively managing costs across the business and is working to drive strong margin performance. Looking ahead, CPHC stock will create better growth across its business segments.