International Speedway (ISCA) Misses Q1 EPS by 3c, Slight Miss on Revenues; Offers FY19 EPS/Revenue Guidance

International Speedway (NASDAQ: ISCA) reported Q1 EPS of $0.57, $0.03 worse than the analyst estimate of $0.60. Revenue for the quarter came in at $150.6 million versus the consensus estimate of $150.95 million.

"Financial results for the first quarter are in line with our 2019 outlook," stated Lesa France Kennedy, ISC Chief Executive Officer. "During the quarter, we hosted another successful Rolex 24 and NASCAR Speedweeks, culminating with the fourth consecutive sell-out of reserved grandstands for the DAYTONA 500. We continue our consumer-focused sales and marketing initiatives, providing segmented experiences desired by fans for a good value."

"In October, Talladega Superspeedway commenced construction on the redevelopment of the iconic Talladega infield. The redevelopment will immerse fans into the sport of NASCAR with a one-of-a-kind Talladega Garage Experience, featuring unprecedented access, interactive attractions and enhanced amenities for guests. While components of the redevelopment will open in the spring, the full project will be completed in the fourth quarter of fiscal 2019, in time for Talladega's 50th anniversary."

"We believe prudent reinvestment in our facilities will continue to position ISC for long-term growth and deliver shareholder value."

GUIDANCE:

International Speedway sees FY2019 EPS of $1.85-$2.15, versus the consensus of $1.99. International Speedway sees FY2019 revenue of $685-705 million, versus the consensus of $696.73 million.

• Operating margin: 13.5% to 16.0%
• Effective tax rate: 25.0% to 26.0%

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

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