reports
ISC Completes Closing of Acquisition by NASCAR
ISC Completes Closing of Acquisition by NASCAR DAYTONA BEACH, Fla., Oct. 18, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) today announced the closing of the previously announced merger contemplated by the Agreement and Plan of Merger, dated as of May 22, 2019, with NASCAR Holdings, Inc. (“NASCAR”), pursuant to which ISC became a wholly owned subsidiary of NASCAR. ISC shareholders, including shareholders representing a majority of the total voting power not held by certain controlling shareholders of ISC...
ISC Announces Anticipated Closing Date for Acquisition by NASCAR
ISC Announces Anticipated Closing Date for Acquisition by NASCAR DAYTONA BEACH, Fla., Oct. 08, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) has delivered a written communication to NASDAQ stating that it has called a special meeting of shareholders on October 16, 2019, for the purpose of voting to approve the merger (the “Merger”) of Nova Merger Sub, Inc., a Florida corporation (“Merger Sub”) and a wholly owned subsidiary NASCAR Holdings, Inc., a Florida Corporation (“Parent”), with and into the Company. ...
International Speedway Corporation Announces Officer Resignation
International Speedway Corporation Announces Officer Resignation DAYTONA BEACH, Fla., Aug. 22, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) today announced Joie Chitwood III has resigned his position as Executive VP and Chief Operating Officer of ISC, effective November 30, 2019. “After 10 great years with ISC and with the pending merger, this feels like the right time to step away and find a new challenge,” said Chitwood. “I am proud to have been involved in several transformation projects while at ISC....
- Jaime Katz
Morningstar | Admission Growth Wanes at ISC, Incentivizing Shareholder...
With admissions falling 5% in narrow-moat International Speedway’s, or ICS', second quarter and 4.5% year to date, it’s clear that the business has struggled to attract race car enthusiasts to the track consistently. We expect competitiveness and low switching costs across leisure activities to restrict the company’s ability to grow sales as rapidly as in the past, which should hold return on invested capital, or ROIC, metrics to a mid-single-digit level. We don’t plan any changes to our...
- Jaime Katz
Admission Growth Wanes at ISC, Incentivizing Shareholders to Support P...
With admissions falling 5% in narrow-moat International Speedway’s, or ICS', second quarter and 4.5% year to date, it’s clear that the business has struggled to attract race car enthusiasts to the track consistently. We expect competitiveness and low switching costs across leisure activities to restrict the company’s ability to grow sales as rapidly as in the past, which should hold return on invested capital, or ROIC, metrics to a mid-single-digit level. We don’t plan any changes to our...
International Speedway Corporation Reports Financial results for the ...
International Speedway Corporation Reports Financial results for the Second Quarter of Fiscal 2019 ~Reaffirms Full Year 2019 Guidance~ DAYTONA BEACH, Fla., July 03, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) today reported financial results for its fiscal second quarter ended May 31, 2019. "Financial results for the second quarter are in line with our 2019 outlook," stated Lesa France Kennedy, ISC Chief Executive Officer. "During the quarter, we hosted six successful Monster Energy NASCAR Cup weekends...
International Speedway Corporation Names New VP of Consumer Sales
International Speedway Corporation Names New VP of Consumer Sales Announces New President of Homestead-Miami Speedway DAYTONA BEACH, Fla., June 25, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) announced today that Matthew Becherer, President of Homestead-Miami Speedway, has been promoted to an ISC Officer as VP of Consumer Sales. Simultaneously, the Company announced that Al Garcia, Senior VP of Operations at Homestead-Miami Speedway, has been promoted to President of Homestead-Miami Speedway. “Matt’s ...
International Speedway Corporation to Host Second Quarter 2019 Financ...
International Speedway Corporation to Host Second Quarter 2019 Financial Results Conference Call DAYTONA BEACH, Fla., June 19, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) will host a conference call to discuss the Company’s fiscal 2019 second quarter financial results on Wednesday, July 3, 2019 at 9:00 a.m. Eastern Time. To participate, dial (888) 694-4641 five to ten minutes prior to the scheduled start time and request to be connected to the ISC earnings call, identification number 1377973. A live...
For INTL.SPEEDWAY CORP., the environment deterioration entails a downg...
INTL.SPEEDWAY CORP. (US), a company active in the Recreational Services industry, now shows a lower overall rating. The independent financial analyst theScreener just confirmed the fundamental rating of 2 stars out of 4, as well as the stock market behaviour of the title as defensive. However, environmental deterioration penalises the general evaluation, which is downgraded to Neutral. As of the analysis date May 24, 2019, the closing price was USD 45.39 and its expected value was estimated at U...
- Jaime Katz
Morningstar | Raised Bid Helps Move International Speedway Closer to P...
While International Speedway has struggled to steadily improve ticket prices, it continues to grow contracted broadcasting revenue as it finesses its experiential offerings. We still think that the company will continue to pursue initiatives to find alternate routes (digital, race changes, car configurations) to tap into consumer demand, boosting brand awareness, supporting a narrow economic moat. While Monster Energy's cup sponsorship has led to lower corporate sales growth due to lower contrac...
- Jaime Katz
Raised Bid Helps Move International Speedway Closer to Pairing With NA...
With an increased bid of $45 per share, which values narrow-moat International Speedway at around $2 billion, we believe it is now probable that the go-private deal will close in 2019. The raised bid was unanimously recommended and approved by the special committee of independent directors along with the participating shareholders (the France family), which signed a letter of agreement to cede their shares to NASCAR before the merger. The initial $42 bid on Oct. 9, 2018, represented an 8% premiu...
- Dave Nicoski
- Ross LaDuke
Vital Signs: Actionable charts
Key Points: • Defensive areas of the market such as Utilities and REITs are breaking out. (ex. WELL, VTR, AIV, CPT, MAA, AVB, PSA, EQIX, ES, and XEL) • Consumer Staples continues to have a number of attractive names. (ex. GIS, CPB, FLO, KO, PM, CHD, CL, and PG) • The Healthcare Sector has a number of names with improving RS. (ex. MDT, IDXX, MDCO, JNJ, and MRK)
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LAD LITHIA MOTORS INC. CLASS A
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ISCA INTERNATIONAL SPEEDWAY CORPORATION CLASS A
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- Jaime Katz
Morningstar | NASCAR's $45 Offer Should Seal the Deal on International...
With an increased bid of $45 per share, which values narrow-moat International Speedway at around $2 billion, we believe it is now probable that the go-private deal will close in 2019. The raised bid was unanimously recommended and approved by the special committee of independent directors along with the participating shareholders (the France family), which signed a letter of agreement to cede their shares to NASCAR before the merger. The initial $42 bid on Oct. 9, 2018, represented an 8% premiu...
- Jaime Katz
NASCAR's $45 Offer Should Seal the Deal on International Speedway Goin...
With an increased bid of $45 per share, which values narrow-moat International Speedway at around $2 billion, we believe it is now probable that the go-private deal will close in 2019. The raised bid was unanimously recommended and approved by the special committee of independent directors along with the participating shareholders (the France family), which signed a letter of agreement to cede their shares to NASCAR before the merger. The initial $42 bid on Oct. 9, 2018, represented an 8% premiu...
International Speedway Corporation Announces Merger Agreement With NAS...
International Speedway Corporation Announces Merger Agreement With NASCAR Holdings, Inc. DAYTONA BEACH, Fla., May 22, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) announced today that it has entered into an Agreement and Plan of Merger (“Merger Agreement”) with NASCAR Holdings, Inc. (“NASCAR”) pursuant to which NASCAR will acquire ISC. The transaction is valued at approximately $2.0 billion. The consideration to be paid to ISC’s shareholders (other than certain controlling shareholders of ISC and certai...
International Speedway Corporation Announces an Increase in Its Annual...
International Speedway Corporation Announces an Increase in Its Annual Dividend ~Shareholders Approve Slate of Board of Directors~ DAYTONA BEACH, Fla., April 11, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) ("ISC") today announced an increase in its annual dividend and re-election of four members to the Company’s Board of Directors. ISC declared an annual dividend of $0.49 per share, payable on June 28, 2019, to common stockholders of record on May 31, 2019. The annual dividend for 2019 is an increase of 4.3% ...
- Jaime Katz
Morningstar | Admission Struggles Stifle International Speedway’s Ea...
With attendance headwinds limiting top-line growth, International Speedway is suffering from the consumer downshift to value-priced packages. Admission revenue fell 4% in the first quarter to $29.3 million and is trending down 5% for the second quarter. While NASCAR continues to shuffle races and update race rules to attract new consumers while keeping existing fans engaged, we think price sensitivity will prevail, making it difficult to increase admissions above the 0.5% average rate we have in...
- Jaime Katz
Admission Struggles Stifle International Speedway’s Earnings Growth;...
With attendance headwinds limiting top-line growth, International Speedway is suffering from the consumer downshift to value-priced packages. Admission revenue fell 4% in the first quarter to $29.3 million and is trending down 5% for the second quarter. While NASCAR continues to shuffle races and update race rules to attract new consumers while keeping existing fans engaged, we think price sensitivity will prevail, making it difficult to increase admissions above the 0.5% average rate we have in...
International Speedway Corporation Reports Financial Results for the F...
International Speedway Corporation Reports Financial Results for the First Quarter of Fiscal 2019 ~Reaffirms Full Year 2019 Guidance~ DAYTONA BEACH, Fla., April 04, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) today reported financial results for its fiscal first quarter ended February 28, 2019. "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 Speedwe...
International Speedway Corporation to Host First Quarter 2019 Financia...
International Speedway Corporation to Host First Quarter 2019 Financial Results Conference Call DAYTONA BEACH, Fla., March 21, 2019 (GLOBE NEWSWIRE) -- International Speedway Corporation (NASDAQ Global Select Market: ISCA; OTC Bulletin Board: ISCB) (“ISC”) will host a conference call to discuss the Company’s fiscal 2019 first quarter financial results on Thursday, April 4, 2019 at 9:00 a.m. Eastern Time. To participate, dial (888) 694-4641 five to ten minutes prior to the scheduled start time and request to be connected to the ISC earnings call, identification number 7548358. A live Webc...
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