Core-Mark Holding missed estimates in Q1 [Seeking Alpha]
Core-Mark Holding Company, Inc. (CORE)
Last core-mark holding company, inc. earnings: 3/2 06:00 am
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US:NASDAQ Investor Relations:
ir.core-mark.com/investors
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Source: Seeking Alpha
Core-Mark Holding missed estimates in Q1Core-Mark Holding (NASDAQ:CORE) reports Non-cigarette sales growth of 24.7% inQ1, driven by net market share gains, including Farner-Bocken, Walmart and incremental food/non-food sales to existing customers.Cigarette sales rose 2%, benefited from contributions from Farner-Bocken acquisition, increases in both California excise taxes and cigarette manufacturer prices.Food sales grew 16.9% and Fresh sales increased 13.6% during the quarter.Gross margin rate improved 32 bps to 5.22%.Adjusted EBITDA expanded 24% to $24.3M.FY2018 Guidance: Net sales: $16.6 to $16.8B; Adjusted EBITDA: $157 to $167M; Diluted EPS: $0.84 to $1.00; Diluted EPS (excl. LIFO expense): $1.13 to $1.29; Capex: ~$30M; Tax rate: 25%; Fully diluted shares outstanding: 46.4M.Previously:Core-Mark Holding misses by $0.01, misses on revenue (May 8)See all stocks on the move »Now read:Dean Foods higher on earnings beats »
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