The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Speedway Motorsports 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 dropped significantly.
Margins contracted across the board.
Speedway Motorsports reported revenue of $142.3 million. The one analyst polled by S&P Capital IQ expected a top line of $151.2 million on the same basis. GAAP reported sales were 20% lower than the prior-year quarter's $177.0 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 $0.27. The one earnings estimate compiled by S&P Capital IQ predicted $0.46 per share. GAAP EPS of $0.26 for Q3 were 54% lower than the prior-year quarter's $0.57 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 45.3%, 410 basis points worse than the prior-year quarter. Operating margin was 18.5%, 990 basis points worse than the prior-year quarter. Net margin was 7.7%, 570 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $89.9 million. On the bottom line, the average EPS estimate is -$0.02.
Next year's average estimate for revenue is $505.2 million. The average EPS estimate is $1.05.
Can your portfolio provide you with enough income to last through retirement? You'll need more than Speedway Motorsports. Learn how to maximize your investment income and "Secure Your Future With 9 Rock-Solid Dividend Stocks." Click here for instant access to this free report.
- Add Speedway Motorsports to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.