Core-Mark Holding Earnings: Here’s Why Investors are Ambivalent Now
Core-Mark Holding Company, Inc. (NASDAQ:CORE) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Core-Mark Holding Company, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 7.69% to $0.36 in the quarter versus EPS of $0.39 in the year-earlier quarter.
Revenue: Rose 2.14% to $2.15 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Core-Mark Holding Company, Inc. reported adjusted EPS income of $0.36 per share. By that measure, the company missed the mean analyst estimate of $0.42. It missed the average revenue estimate of $2.24 billion.
Quoting Management: “I am encouraged to see healthy growth in our non-cigarette sales and robust improvements in the margins, despite soft consumer demand in the quarter. This not only indicates that our key strategies continue to resonate with customers, but strengthens my confidence that we will post record earnings in 2013,” said Thomas B. Perkins, President and Chief Executive Officer. “I am very excited about our new Carolina division and the positive impact they have made to the company and the new Turkey Hill contract announced this morning.”
Key Stats (on next page)…