Core-Mark Holding (CORE) Misses Q1 EPS by 7c; Reaffirms

Core-Mark Holding (NASDAQ: CORE) reported Q1 EPS of $0.11, $0.07 worse than the analyst estimate of $0.18. Revenue for the quarter came in at $3.5 billion versus the consensus estimate of $3.39 billion.

• Record First Quarter Sales of $3.5 Billion, a 16.4% Increase
• Fresh Sales Increased Approximately 14.0%; Total Non-Cigarette Sales Increased 13.5%
• Diluted EPS was $0.05, or $0.11 Excluding LIFO Expense (Non-GAAP) (1)
• Guidance for 2017 Reaffirmed
• Announced $0.09 Dividend Payable June 22, 2017

"Core-Mark showed solid revenue and store growth in the first quarter as well as continued progress with our core strategies, but we have more work to do to improve productivity on newly acquired business and better leverage our fixed costs," said Thomas B. Perkins, President and Chief Executive Officer. "I'm confident we'll get there; we have a strong organization and are focused on our goal of driving enhanced profitability as we capitalize on our momentum in the marketplace."

For earnings history and earnings-related data on Core-Mark Holding (CORE) click here.

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