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.
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