Speedway Motorsports (TRK) Misses Q1 EPS by 3c
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Speedway Motorsports Reports Results for First Quarter 2016 and Reaffirms Full Year 2016 Guidance
April 27, 2016 6:30 AM EDTCONCORD, N.C.--(BUSINESS WIRE)-- Speedway Motorsports, Inc. (SMI) (NYSE: TRK) today reported first quarter 2016 total revenues of $83.2 million and net income of $861,000 or $0.02 per diluted share. These results were within managements expectations, and SMI reaffirmed its full year 2016 earnings guidance of $0.90 to $1.10 per diluted share as further described below.
Management believes many of the Companys revenue categories continue to be negatively impacted by economic conditions, including underemployment and absence of a stronger middle class economic recovery, certain currency exchange rates and high food and health-care costs. Management also believes... More
