International Speedway on Track to Deliver Earnings Growth in 2018; Shares Fairly Valued
While top-line performance at narrow-moat International Speedway fell slightly short of our expectations, delivering $149 million in total sales in the first quarter versus the $152 million our model had implied, nearly all expense line items were modestly better than we forecast, leading to earnings per share that tracked about a penny ahead of our model. With the main difference between last year and this year’s quarter the running of the Ferrari event in 2017, we don’t think performance at fi...International Speedway owns motorsports entertainment facilities and promoter of motorsports themed entertainment activities in the U.S. The company's motorsports themed event operations consist primarily of racing events at its motorsports entertainment facilities. The company conducts, either through operations of the particular facility or through its wholly owned subsidiary, Americrown Service Corporation, food and beverage concession operations and catering services, both in suites and chalets. The company's subsidiary, Motor Racing Network, Inc. creates motorsports-related programming content carried on radio stations around the country, as well as on a national satellite radio service, Sirius XM Radio.
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