Core-Mark Holding
The 10-second takeaway
For the quarter ended June 30 (Q2), Core-Mark Holding missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share expanded significantly.
Margins dropped across the board.
Revenue details
Core-Mark Holding booked revenue of $2.29 billion. The three analysts polled by S&P Capital IQ wanted to see revenue of $2.37 billion on the same basis. GAAP reported sales were 48% higher than the prior-year quarter's $1.54 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.94. The two earnings estimates compiled by S&P Capital IQ averaged $1.01 per share. GAAP EPS of $0.87 for Q2 were 23% higher than the prior-year quarter's $0.71 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 5.4%, 170 basis points worse than the prior-year quarter. Operating margin was 0.8%, 10 basis points worse than the prior-year quarter. Net margin was 0.4%, 20 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $2.48 billion. On the bottom line, the average EPS estimate is $1.23.
Next year's average estimate for revenue is $9.27 billion. The average EPS estimate is $3.57.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 108 members out of 112 rating the stock outperform, and four members rating it underperform. Among 27 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 27 give Core-Mark Holding a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Core-Mark Holding is buy, with an average price target of $54.00.
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