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Core-Mark Holding profit misses consensus by 93.0% in Q1

Core-Mark Holding Co. Inc. said its normalized net income for the first quarter was 1 cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS decreased 87.4% year over year from 10 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $562,500, a decline of 87.5% from $4.5 million in the prior-year period.

The normalized profit margin dropped to 0.0% from 0.2% in the year-earlier period.

Total revenue rose 14.6% on an annual basis to $2.77 billion from $2.41 billion, and total operating expenses grew 14.9% on an annual basis to $2.76 billion from $2.41 billion.

Reported net income fell 58.5% from the prior-year period to $2.3 million, or 5 cents per share, from $5.6 million, or 12 cents per share.