Taking the checkered flag is always sweet, but most drivers would prefer to cross the finish line in high gear and at top speed, and not creeping along under a yellow caution flag. Speedway Motorsports
For the first quarter, Speedway posted $155.2 million in revenue, nosing out last year's $152.2 million. Net income fell from the prior year's $31.9 million, to $30.9 million, causing earnings per share to slip from $0.72 to $0.71.
Admissions make up roughly one-third of total revenue and were down 5.1% from the prior year. Growth in the remaining revenue categories made up the difference, and the total was a record for the first quarter. Interest expense doubled because of the $300 million in debt incurred to acquire New Hampshire Motor Speedway.
In its own first quarter, International Speedway