International Speedway Corp. (NASDAQ:ISCA) Q2 2019 Earnings Conference Call Transcript

Jul 03, 2019 • 09:00 am ET

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International Speedway Corp. (NASDAQ:ISCA) Q2 2019 Earnings Conference Call Transcript

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Presentation
Executive
Greg Motto

the uncollectible revenue from a sponsor currently in bankruptcy and net of lower operating expenses as a result of cost containment initiatives. Our full year fiscal 2019 guidance includes total revenues to range between $685 million and $715 million -- $705 million. Adjusted EBITDA will range between $230 million and $250 million, included in adjusted EBITDA is approximately $27 million in pre-tax cash distributions from the Hollywood Casino. Operating margin is estimated between 13.5% and 16%. Our non-GAAP effective tax rate is forecasted at 25% to 26% and non-GAAP earnings of $1.85 to $2.15 per diluted share.

In closing, we continue to see areas of success like the increased admissions at our newly renovated ISM Raceway and increased viewership for 2019. Our 2019 financial outlook provides year-over-year growth. We have a defined consumer-focused marketing and sales strategy. We continue to reinvest in new fan experiences that competitively position our facilities against other entertainment options and we maintain a solid financial position developed over many years that affords us the ability to follow our disciplined capital allocation strategy and maintain our leadership position in the motorsports industry.

For the future, we are well positioned to balance the strategic capital needs of our business with returning capital to our shareholders. We look forward to speaking with you on our next earnings conference call in October.

With that I'll turn it back over to the operator, who will lead us through the Q&A portion of the call. Operator?