Speedway Motorsports (TRK) Reports In-Line Q1 EPS; Reaffirms

Speedway Motorsports (NYSE: TRK) reported Q1 EPS of $0.02, in-line with the analyst estimate of $0.02. Revenue for the quarter came in at $80.3 million versus the consensus estimate of $84.27 million.

• Total revenues of $80.3 million in 2017 compared to $83.2 million in 2016
• Accelerated depreciation and removal costs on retired assets aggregating $4.6 million pre-tax, $2.9 million after tax or $0.07 per diluted share in 2017
• Net loss of $1.9 million or $0.05 per diluted share in 2017 compared to net income of $861,000 or $0.02 per diluted share in 2016
• Adjusted non-GAAP net income of $962,000 or $0.02 per diluted share in 2017 compared to $861,000 or $0.02 per diluted share in 2016

2017 Earnings Guidance

The Company reaffirmed that first quarter 2017 results are consistent with its previous full year 2017 non-GAAP earnings guidance of $0.90-$1.10 per diluted share, excluding non-recurring and other special items. The range of earnings guidance reflects the continuing negative impact of uncertain economic conditions and underemployment, among other factors. Inclement weather can significantly impact our future results

For earnings history and earnings-related data on Speedway Motorsports (TRK) click here.

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