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Core-Mark Holding profit misses consensus by 31.0% in Q1

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Core-Mark Holding profit misses consensus by 31.0% in Q1

Core-Mark Holding Co. Inc. said its normalized net income for the first quarter amounted to 10 cents per share, compared with the S&P Capital IQ consensus estimate of 14 cents per share.

EPS fell 20.9% year over year from 12 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $4.5 million, a decrease of 20.9% from $5.7 million in the year-earlier period.

The normalized profit margin declined to 0.2% from 0.3% in the year-earlier period.

Total revenue rose 22.6% on an annual basis to $2.41 billion from $1.97 billion, and total operating expenses climbed 22.8% from the prior-year period to $2.41 billion from $1.96 billion.

Reported net income came to $5.6 million, or 12 cents per share, compared to $5.6 million, or 12 cents per share, in the prior-year period.