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Core-Mark Earnings Beat Estimates

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Shares of South San Francisco, Calif.-based Core-Mark Holding Company (NASDAQ: CORE  ) slid 1.8% in Wednesday trading, despite the company reporting Q2 2013 earnings that would appear to have exceeded analyst estimates on both profits and revenues.

Core-Mark earned $1.01 per diluted share in net profits, but noted that if LIFO expenses were excluded, its earnings would have been $1.20 per share, a 10% increase over Q2 2012 performance. Revenues for the quarter, at $2.5 billion, slightly exceeded expectations of $2.49 billion.

Core-Mark is one of the nation's largest suppliers of goods sold at convenience stores -- in particular, cigarettes. Year over year, Core-Mark's net sales grew 10%; sales of goods other than cigarettes grew 14%, with the company noting that the acquisition of a Carolina division in December 2012 contributed most of the growth.

Looking forward, Core-Mark guided investors to expect 10% to 12% sales growth over the course of the rest of this year, resulting in net profits per diluted share of between $3.10 and $3.25.


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Rich Smith
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As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

8/31/2015 3:59 PM
CORE $60.11 Up +0.44 +0.74%
Core-Mark Holding… CAPS Rating: *****