The 10-second takeaway
For the quarter ended March 31 (Q1), Core-Mark Holding missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded slightly. Non-GAAP earnings per share dropped. GAAP earnings per share dropped significantly.
Margins dropped across the board.
Core-Mark Holding chalked up revenue of $2.15 billion. The four analysts polled by S&P Capital IQ expected revenue of $2.29 billion on the same basis. GAAP reported sales were 32% higher than the prior-year quarter's $1.63 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.36. The four earnings estimates compiled by S&P Capital IQ predicted $0.41 per share. Non-GAAP EPS of $0.36 for Q1 were 7.7% lower than the prior-year quarter's $0.39 per share. GAAP EPS of $0.22 for Q1 were 29% lower than the prior-year quarter's $0.31 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 5.4%, 140 basis points worse than the prior-year quarter. Operating margin was 0.2%, 20 basis points worse than the prior-year quarter. Net margin was 0.1%, 10 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $2.52 billion. On the bottom line, the average EPS estimate is $1.12.
Next year's average estimate for revenue is $9.85 billion. The average EPS estimate is $3.72.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 104 members out of 109 rating the stock outperform, and five members rating it underperform. Among 41 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 41 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 $57.20.
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