International Speedway Earnings: Here’s Why the Stock is Up Now
International Speedway Corp. (NASDAQ:ISCA) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 0.59%.
International Speedway Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 1.92% to $0.51 in the quarter versus EPS of $0.52 in the year-earlier quarter.
Revenue: Decreased 0.67% to $178.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: International Speedway Corp. reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.5. It missed the average revenue estimate of $182.3 million.
Quoting Management: “We are pleased with our financial results for the quarter and year-to-date,” stated ISC Chief Executive Officer Lesa France Kennedy. “While consumer-related revenues at our events to-date generated mixed results, in part due to inclement weather, we remain optimistic that the economy is poised for stronger growth, which will benefit our fans.
Key Stats (on next page)…