Speedway Motorsports (TRK) Tops Q2 EPS by 6c, Beats on Revenues; Reaffirms 2Q / FY17 EPS Guidance

Speedway Motorsports (NYSE: TRK) reported Q2 EPS of $0.68, $0.06 better than the analyst estimate of $0.62. Revenue for the quarter came in at $179.3 million versus the consensus estimate of $176.73 million.

2017 Earnings Guidance

The Company reaffirmed that second 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. Higher health-care and fuel costs, along with inclement weather, could significantly impact our future results.

Second Quarter Comparison:

• Total revenues of $179.3 million in 2017 compared to $175.7 million in 2016
• Impairment charge for goodwill of $1.1 million pre-tax, $698,000 after tax or $0.02 per diluted share in 2017
• Net income of $27.3 million or $0.67 per diluted share in 2017 compared to $24.7 million or $0.60 per diluted share in 2016
• Adjusted non-GAAP net income of $28.0 million or $0.68 per diluted share in 2017 compared to $24.7 million or $0.60 per diluted share in 2016

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

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