Speedway Motorsports 1Q earnings drop slightly

Speedway Motorsports Inc. reports reduced first-quarter earnings of $30.9 million, or 71 cents per diluted share.

The Concord-based promoter of motorsports entertainment posted earnings of nearly $31.9 million, or 72 cents per diluted share, in the year-ago period.

Revenue in the latest quarter grew to $155.2 million from $152.2 million a year earlier.

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The company expects its net income this year to range between $2.40 and $2.50 per diluted share.

Speedway Motorsports (NYSE:TRK) owns and operates Lowe's Motor Speedway in Concord, Atlanta Motor Speedway, Bristol Motor Speedway in Tennessee, Infineon Raceway in California, Las Vegas Motor Speedway, Texas Motor Speedway near Fort Worth and New Hampshire Motor Speedway in Loudon, N.H.