International Speedway Corp. issues third-quarter report
International Speedway Corp., held a conference call with investor analysts Thursday looking back on the third quarter and ahead to the fourth quarter of the year.
Among the call’s highlights:
- ISC said the overall results of the third quarter exceeded expectations, noting the sellout of grandstand seats at Watkins Glen and strong results for the Michigan race in August.
- For fiscal 2015, the average ticket price for all events held year-to-date is about $72.50
- In the fourth quarter, Darlington Raceway saw a “double-digit” increase for the Southern 500 in both attendance and admission dollars compared to the spring 2014 race at that track.
- Also in the fourth quarter, Chicagoland Speedway had a “strong performance” with units and admissions,exceeding expectations, while Richmond International Raceway saw a year-over-year decline with an unfavorable weather forecast and rain on the day of the event.
- For ISC’s remaining races - Kansas Speedway, Talladega Superspeedway, Martinsville Speedway, Phoenix International Raceway and Homestead-Miami Speedway - total advance sales for the Sprint Cup races are ahead of the prior year by 10 percent.
- Daniel Houser, executive vice president and chief financial officer for ISC, said Talladega’s sales have been encouraging: “Talladega continues to be very strong and what’s encouraging for us there that was one of the facilities during the economic downturn that really was heavily impacted. So we are having great success there, the team out there (has) done a lot with their promotions and really they talk about getting the swagger back at Talladega, and it’s resonating with the fans.”
- Advance ticket sales for the 2016 Daytona 500 are up more than 20 percent compared to 2014.
ISC shares traded up 5.6 percent at one point Thursday following a better than expected earnings announcement.