LONDON, UK / ACCESSWIRE / April 27, 2018 / Active-Investors.com has just released a free earnings report on International Speedway Corp. (NASDAQ: ISCA). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ISCA. The Company reported its first quarter fiscal 2018 operating and financial results on April 03, 2018. The motorsports and entertainment Company surpassed earnings estimates, and also provided guidance for the full fiscal year 2018. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, International Speedway most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the three months ended February 28, 2018, International Speedway's total revenues were approximately $148.9 million compared to approximately $148.0 million in Q1 FY17. The Company's revenue numbers lagged analysts' estimates of $152.2 million.
During Q1 FY18, International Speedway's operating income was approximately $32.5 million compared to approximately $33.8 million in Q1 FY17.
International Speedway's net income was approximately $169.3 million, or $3.83 per diluted share, in Q1 FY18 compared to approximately $21.3 million, or $0.47 per diluted share, in Q1 FY17. The Company's reported quarter results included non-recurring costs associated with The ISM Raceway Project; accelerated depreciation related to The ISM Raceway Project; other capital improvements, including the infield project at Richmond; losses associated with the retirements of certain other long-lived assets; capitalized interest associated with ONE DAYTONA and The ISM Raceway Project; and the income tax benefit related to the TCJA.
For Q1 FY18, International Speedway recorded a non-GAAP net income of $26.4 million, or $0.60 per diluted share, compared to $21.4 million, or $0.47 per diluted share, in Q1 FY17. The Company's earnings exceeded Wall Street's estimates of $0.57 per share.
International Speedway did not repurchase any shares of the Company in Q1 FY18. At February 28, 2018, the Company had approximately $171.6 million of remaining repurchase authority under the current $530.0 million Stock Purchase Plan. In FY17, the Company increased its dividend by approximately 4.9% to $0.43 per share. International Speedway expects to increase its dividend for FY18, and beyond, by approximately 4% to 5%, annually.
For the fiscal years 2017 through 2021, International Speedway is forecasting return of capital program to be approximately $280.0 million, comprised of close to $100.0 million in total annual dividends and the balance being open market repurchase of the Company's shares over the five-year period.
For the full fiscal year 2018, International Speedway is forecasting revenues to be in the range of $680.0 million to $695.0 million. The Company is expecting operating margin to be in the band of 15.5% to 16.5%. For FY18, International Speedway is estimating earnings per diluted share to be in the range of $1.90 to $2.10, and adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) to be in the band of $241.0 million to $252.0 million.
Stock Performance Snapshot
April 26, 2018 - At Thursday's closing bell, International Speedway's stock climbed 1.08%, ending the trading session at $42.00.
Volume traded for the day: 121.48 thousand shares.
Stock performance in the previous six-month period – up 4.22%; past twelve-month period – up 9.66%; and year-to-date – up 5.40%
After yesterday's close, International Speedway's market cap was at $1.90 billion.
Price to Earnings (P/E) ratio was at 16.17.
The stock has a dividend yield of 1.02%.
The stock is part of the Services sector, categorized under the Sporting Activities industry. This sector was up 1.0% at the end of the session.
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