International Speedway (ISCA) Misses Q2 EPS by 2c
International Speedway (NASDAQ: ISCA) reported Q2 EPS of $0.30, $0.02 worse than the analyst estimate of $0.32. Revenue for the quarter came in at $165.3 million versus the consensus estimate of $166.79 million.
"Financial results for the second quarter met expectations," stated Lesa France Kennedy, ISC Chief Executive Officer. "Comparable revenue for the quarter was within one percent of the prior year. We remain confident our consumer-focused sales strategies are working to slow recent attendance-related revenue trends. The financial position is strengthened by our broadcast and corporate sales agreements that provide long-term visibility."
"The 2017 season is shaping up well. Race format changes implemented by NASCAR have resulted in great on-track competition with 10 drivers already securing a spot in NASCAR's Playoffs, through just 17 races. Up-and-coming drivers, Kyle Larson, Ryan Blaney and Chase Elliot are positioning themselves among NASCAR's elite, currently holding 3 of the top 16 positions in the Monster Energy Cup Series standings."
"Steel installation has begun on the Phoenix Redevelopment signaling a significant milestone for the project."
"Construction continues with ONE DAYTONA, targeting a fourth quarter grand opening. Anchor tenants Cobb Daytona Luxury Theatres and Bass Pro Shops have experienced results exceeding expectations since opening in first quarter 2017. The Fairfield Inn & Suites is planning a fall 2017 opening. Leasing demand remains strong. We recently announced six new tenants, including several first-to-market brands. The second hotel, a Marriott Autograph Collection property, recently broke ground with an anticipated opening in late 2018."
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