In short yes, but there are a couple conditions. After the first application, the lawn won't magically grow back and fill in where the damage occurred. However, it will reduce the chinch bug population up to 75% reducing further damage and breeding. We'd recommend getting a fall aeration and fertilizer package to help bring your lawn back. By next spring, the lawn should be somewhat recovered and with good seeding, fertilizer, watering and mowing the lawn should be in much better shape. It's a continual process to get your lawn back after the damage has been done but getting it sprayed for chinch bugs is a great first step.