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.
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. The Motley Fool has no position in any of the stocks mentioned. 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.