Core-Mark Q2 Profit Rises - Quick Facts

(RTTNews) - Core-Mark Holding Company, Inc. (CORE) reported that its second-quarter net income increased to $11.7 million or $1.01 per share, from $10.1 million or $0.87 per share, last year. Adjusted earnings per share was $1.01 for the quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.17 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $2.51 billion, comapared to $2.29 billion last year. Analysts expected revenue of $2.49 billion for the quarter. The company said the increase in sales was driven primarily by Carolina division, which it acquired in December 2012, and an increase in same-store non-cigarette sales.

The company reaffirmed its 2013 guidance. Annual net sales in 2013 are expected to be between $9.8 billion and $10.0 billion, a 10% to 12% increase compared to 2012. Earnings per share for the full year are expected to be between $3.10 and $3.25 or between $3.90 and $4.05 excluding the impact of LIFO expense. Analysts expect the company to report full year 2013 profit per share of $3.97 on revenue of $9.65 billion.