International Speedway Corp. (NASDAQ:ISCA) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.59%.
International Speedway Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 1.92% to $0.51 in the quarter versus EPS of $0.52 in the year-earlier quarter.
Revenue: Decreased 0.67% to $178.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: International Speedway Corp. reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.5. It missed the average revenue estimate of $182.3 million.
Quoting Management: “We are pleased with our financial results for the quarter and year-to-date,” stated ISC Chief Executive Officer Lesa France Kennedy. “While consumer-related revenues at our events to-date generated mixed results, in part due to inclement weather, we remain optimistic that the economy is poised for stronger growth, which will benefit our fans.
Key Stats (on next page)…
Revenue increased 38.78% from $128.55 million in the previous quarter. EPS increased 54.55% from $0.33 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.01 and has not changed. For the current year, the average estimate has moved down from a profit of $1.45 to a profit of $1.43 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)