UPDATE: International Speedway (ISCA) Tops Q3 EPS by 3c, Beats on Revenues; Reiterates FY17 EPS/Revenue Mid-Point Guidance Above Consensus

International Speedway (NASDAQ: ISCA) reported Q3 EPS of $0.06, $0.03 better than the analyst estimate of $0.03. Revenue for the quarter came in at $131.9 million versus the consensus estimate of $128.82 million.

ISC is reiterating its 2017 full fiscal year non-GAAP guidance. The earnings outlook is our best estimate of financial results for fiscal 2017.

Revenue: $660.0 million to $670.0 million
EBITDA margin: 31.5% to 32.5%
Operating margin: 15.5% to 17.0%
Effective tax rate: 38.0% to 38.5%
Diluted earnings per share: $1.50 to $1.65

Our guidance for EBITDA is to range between $208.0 million to $218.0 million (see "GAAP to Non-GAAP Reconciliation" for our definition of EBITDA and discussion on Non-GAAP financial forward looking measures). Incremental to ISC's EBITDA estimate are pre-tax cash distributions from its equity investment in the Hollywood Casino, estimated to be approximately $25.0 million to $26.0 million. Total capital expenditures for 2017 are estimated between approximately $150.0 million to $175.0 million, which include capital expenditures for existing facilities, including The Phoenix Raceway Project and ONE DAYTONA.

For earnings history and earnings-related data on International Speedway (ISCA) click here.

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