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Speedway Motorsports Q2 profit climbs YOY

Speedway Motorsports Inc. said its second-quarter normalized net income amounted to 70 cents per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.

EPS climbed year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $28.7 million, a gain from $27.7 million in the year-earlier period.

The normalized profit margin rose to 16.0% from 15.8% in the year-earlier period.

Total revenue rose year over year to $179.3 million from $175.9 million, and total operating expenses increased on an annual basis to $129.7 million from $127.3 million.

Reported net income came to a loss of $32.2 million, or a loss of 78 cents per share, compared to income of $27.3 million, or 66 cents per share, in the prior-year period.