Core-Mark Holding (CORE) Misses Q4 EPS by 5c, Revenues Beat; Offers FY19 EPS Guidance Above Consensus

Core-Mark Holding (NASDAQ: CORE) reported Q4 EPS of $0.26, $0.05 worse than the analyst estimate of $0.31. Revenue for the quarter came in at $4.09 billion versus the consensus estimate of $4.03 billion.

• Record Annual Sales of $16.4 Billion
• Annual Diluted EPS of $0.99 on Net Income of $45.5 Million
• Record Annual Adjusted EBITDA (Non-GAAP)(1) of $164.7 Million
• Expects 2019 Sales of $16.8 Billion to $17.0 Billion
• Expects 2019 Diluted EPS of $1.09 to $1.19 or $1.50 to $1.60 excluding LIFO expense (Non-GAAP)(1)
• Declared $0.11 Dividend Payable March 22, 2019

“The company performed well in 2018 growing EBITDA by 21% and delivering strong free cash flow. We had a steep hill to climb, coming off a difficult 2017, but through a disciplined approach to leveraging costs, a focus on enhancing margins through category management solutions and growing non-cigarette sales, we were able to deliver strong results,” said Scott E. McPherson, President and Chief Executive Officer. “We entered 2019 with a strengthened balance sheet, well positioned to take advantage of strategic opportunities, gain market share and improve profitability.”

GUIDANCE:

Core-Mark Holding sees FY2019 EPS of $1.50-$1.60, versus the consensus of $1.46.

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

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