The 10-second takeaway
For the quarter ended Feb. 29 (Q1), International Speedway missed estimates on revenue and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.
Gross margin increased, operating margin shrank, and net margin dropped.
International Speedway logged revenue of $127.4 million. The two analysts polled by S&P Capital IQ anticipated revenue of $140.9 million on the same basis. GAAP reported sales were 14% lower than the prior-year quarter's $148.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.37. The two earnings estimates compiled by S&P Capital IQ predicted $0.34 per share. GAAP EPS of $0.37 for Q1 were 18% lower than the prior-year quarter's $0.45 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 56.9%, 70 basis points better than the prior-year quarter. Operating margin was 23.4%, 500 basis points worse than the prior-year quarter. Net margin was 13.5%, 90 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $158.7 million. On the bottom line, the average EPS estimate is $0.39.
Next year's average estimate for revenue is $621.9 million. The average EPS estimate is $1.61.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 122 members out of 142 rating the stock outperform, and 20 members rating it underperform. Among 53 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 46 give International Speedway a green thumbs-up, and seven give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on International Speedway is outperform, with an average price target of $31.50.
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