The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Speedway Motorsports missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share expanded. GAAP earnings per share expanded.
Margins expanded across the board.
Speedway Motorsports booked revenue of $82.1 million. The one analyst polled by S&P Capital IQ hoped for net sales of $86.7 million on the same basis. GAAP reported sales were 7.9% lower than the prior-year quarter's $89.1 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 $0.09. The one earnings estimate compiled by S&P Capital IQ anticipated -$0.02 per share. Non-GAAP EPS of $0.09 for Q4 were much higher than the prior-year quarter's $0.00 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.) GAAP EPS were $0.10 for Q4 against -$0.02 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 51.5%, 280 basis points better than the prior-year quarter. Operating margin was 10.7%, 120 basis points better than the prior-year quarter. Net margin was 5.3%, 570 basis points better than the prior-year quarter.
Next year's average estimate for revenue is $506.2 million. The average EPS estimate is $1.01.
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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. TMFDisclosureHere