On Thursday, International Speedway Corporation (NASDAQ: ISCA) announced its financial results for the second quarter of fiscal 2018.
According to the company, total revenue for the second quarter increased 3.9% from $165.3 million for the same period last year to $171.7 million. The results surpassed analysts’ estimates of $169.1 million.
Net income for the quarter increased 26% from $13.2 million, or 29 cents per share, to $16.7 million, or 38 cents per share. Adjusted earnings per share was 37 cents per share, increasing from 30 cents per share for the same period last year. The results also beat analysts’ estimates of 36 cents per share.
“Our overall financial results for second quarter are in line with expectations and the 2018 outlook, despite admissions headwinds faced during the quarter,” Lesa France Kennedy, the Chief Executive Officer of International Speedway, said in the statement on Thursday.
“Revenue for events held during the quarter was impacted by weather, construction at ISM Raceway, and a general trend of lower sales at live sporting events. We remain committed to our consumer focused sales and marketing initiatives, providing segmented experiences desired by fans for a good value, which have proven to yield positive results against these trends,” Lesa continued.