Core-Mark Holding Earnings: Everything You Must Know Now
Core-Mark Holding Company, Inc. (NASDAQ:CORE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Core-Mark Holding Company, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 27.66% to $1.2 in the quarter versus EPS of $0.94 in the year-earlier quarter.
Revenue: Rose 9.73% to $2.51 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Core-Mark Holding Company, Inc. reported adjusted EPS income of $1.2 per share. By that measure, the company beat the mean analyst estimate of $1.17. It beat the average revenue estimate of $2.49 billion.
Quoting Management: “This was a strong quarter where we generated solid sales momentum and are on pace to reach our 2013 goals. We are executing our key strategies well, growing our business at a healthy rate and investing in the relevant tools and services that our customers need to compete in the market place,” said Thomas B. Perkins, President and Chief Executive Officer. “In the second quarter we saw a rebound in consumer demand from the first quarter reflecting the health of the industry and Core-Mark.”
Key Stats (on next page)…
Revenue increased 16.97% from $2.15 billion in the previous quarter. EPS increased 233.33% from $0.36 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.31 to a profit $1.33. For the current year, the average estimate has moved up from a profit of $3.89 to a profit of $3.97 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)