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International Speedway's second quarter earnings miss estimates but NASCAR group confident for full-year

04:46 EDT 3 Jul 2017 | Proactive Investors

International Speedway Corp. (NASDAQ:ISCA) saw  its second quarter earnings and revenues fall slightly short of estimates although the NASCAR race group remains confident for the full-year. The Daytona Beach-based company said its fISCal second quarter net earnings were 29 US cents per share, or 30 US cents when adjusted for non-recurring costs, below the consensus forecast of 32 US cents per share. The motorsports and entertainment company posted overall net income of US$13.2mln on revenue of US $165.3mln in the period, lower than the average revenue estimate of US$166.79mln. ISC said it expects its full-year earnings in the range of US$1.50 to US$1.60 per share. Lesa France Kennedy, ISCs’ chief executive officer said: “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.". In pre-market trading, ISC shares were 1.3% higher at US$38.05, having fallen by round 3% in the year-to-date.

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