The 10-second takeaway
For the quarter ended June 30 (Q2), Speedway Motorsports missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share shrank. GAAP earnings per share dropped to a loss.
Margins contracted across the board.
Speedway Motorsports recorded revenue of $176.8 million. The one analyst polled by S&P Capital IQ expected to see sales of $181.8 million on the same basis. GAAP reported sales were 2.4% lower than the prior-year quarter's $181.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.64. The one earnings estimate compiled by S&P Capital IQ predicted $0.62 per share. Non-GAAP EPS of $0.64 for Q2 were 1.5% lower than the prior-year quarter's $0.65 per share. GAAP EPS were -$1.64 for Q2 against $0.65 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 50.5%, 150 basis points worse than the prior-year quarter. Operating margin was 29.2%, 160 basis points worse than the prior-year quarter. Net margin was -38.4%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $144.1 million. On the bottom line, the average EPS estimate is $0.35.
Next year's average estimate for revenue is $493.8 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.