International Speedway Corp. (ISCA) that promotes motorsports themed entertainment activities in the U.S. owns 13 different motorsports entertainment locations, including the renowned Daytona International Speedway, where NASCAR races are held.
Over the past few quarters, the company’s revenues are benefitting due to sharp increases in television broadcast licensing revenues as well as concessions and merchandise sold at racetracks.
Analysts have been cautiously optimistic in the recent months about the company’s earnings and kept their estimates unchanged over the last 30 days. ISCA does have a decent history when it comes to recent earnings reports as the stock has beaten estimates in three of the last four quarters, making for an average surprise of 23.82%.
Currently, ISCA has a Zacks Rank #3 (Hold) but that could definitely change following International Speedway’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: ISCA missed on earnings. Our consensus earnings estimate called for EPS of 58 cents per share, and the company reported EPS of 56 cents instead. Investors should note that these figures take out stock option expenses.
Revenues: ISCA reported revenues of $199.8 million. This beat our consensus estimate of 194.0 million.
Key Stats to Note: Total expenses were approximately $160.0 million, up only 0.5% year over year. Operating income was $39.8 million, up approximately 35% year over year.
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