The 10-second takeaway
For the quarter ended Aug. 31 (Q3), International Speedway missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP earnings per share contracted to a loss.
Margins dropped across the board.
International Speedway reported revenue of $115.9 million. The three analysts polled by S&P Capital IQ predicted sales of $124.2 million on the same basis. GAAP reported sales were 23% lower than the prior-year quarter's $150.3 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 $0.01. The four earnings estimates compiled by S&P Capital IQ forecast $0.08 per share. GAAP EPS were -$0.02 for Q3 against $0.20 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 41.6%, 200 basis points worse than the prior-year quarter. Operating margin was 1.8%, 1,200 basis points worse than the prior-year quarter. Net margin was -0.9%, 730 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $186.8 million. On the bottom line, the average EPS estimate is $0.57.
Next year's average estimate for revenue is $615.5 million. The average EPS estimate is $1.54.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 124 members out of 145 rating the stock outperform, and 21 members rating it underperform. Among 49 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 42 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 $29.33.
- Add International Speedway to My Watchlist.