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Last $59.00 USD
Change Today -1.11 / -1.85%
Volume 38.3K
CORE On Other Exchanges
Symbol
Exchange
NASDAQ GS
Berlin
As of 12:49 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

core-mark holding co inc (CORE) Key Developments

Core-Mark Holding Company, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Approves Cash Dividend, Payable on September 14, 2015; Revised Earnings Guidance for the Full Year of 2015

Core-Mark Holding Company, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, net sales were $2,810.4 million against $2,623.2 million a year ago. Excluding the impact of foreign currency fluctuations, net sales increased 8.7%. Income from operations was $22.2 million against $20.5 million a year ago. Income before income taxes was $21.4 million against $19.9 million a year ago. Net income was $13.2 million against $12.0 million a year ago. Diluted net income per common share was $0.57 against $0.52 a year ago. Adjusted EBITDA was $37.5 million against $34.2 million a year ago. For the six months, net sales were $5,262.7 million against $4,924.1 million a year ago. Income from operations was $32.1 million against $25.1 million a year ago. Income before income taxes was $30.5 million against $23.9 million a year ago. Net income was $18.7 million against $14.4 million a year ago. Diluted net income per common share was $0.81 against $0.62 a year ago. Net cash provided by used in operating activities was $10.9 million against net cash used in operating activities of $67.0 million a year ago. Additions to property and equipment, net were $14.4 million against $14.8 million a year ago. Capitalization of software and related development costs was $3.9 million against $1.1 million a year ago. Adjusted EBITDA was $60.4 million against $50.1 a year ago. The company also announced its Board of Directors has approved a $0.13 cash dividend per common share. The dividend is payable on September 14, 2015 to stockholders of record as of the close of business on August 21, 2015. The company has raised its net sales guidance for the full year of 2015. Annual net sales guidance is now expected to be between $11.0 billion and $11.2 billion, up from $10.8 billion to $11.0 billion. The primary driver to the increase in net sales is market share gains in the tobacco categories. Adjusted EBITDA for 2015 is now expected to be between $133.0 million and $136.0 million, up from $126.5 million and $129.0 million. Diluted earnings per-share for the full year are expected to be between $2.03 and $2.10, up from between $1.87 and $1.91. Diluted per-share estimates, excluding LIFO expense, are expected to be between $2.45 and $2.52, up from between $2.29 and $2.33. The primary drivers to the increase in EBITDA and EPS are stronger sales and net gains on excise tax increases. The company reaffirmed capital expenditure estimates for 2015 of approximately $35 million, which will be utilized for expansion projects and maintenance investments. Free cash flow will be in the range of $65 million to $70 million, subject to any unusual spikes at year end.

Core-Mark Holding Company, Inc. to Report Q2, 2015 Results on Aug 06, 2015

Core-Mark Holding Company, Inc. announced that they will report Q2, 2015 results Pre-Market on Aug 06, 2015

Core-Mark Holding Company, Inc., Q2 2015 Earnings Call, Aug 06, 2015

Core-Mark Holding Company, Inc., Q2 2015 Earnings Call, Aug 06, 2015

CoreMark Holding Mulls Acquisitions

Core-Mark Holding Company, Inc. (NasdaqGS:CORE) intends to pursue acquisitions. We do expect to continue our acquisition and expansion activity. If you look at top-line growth, is averaging around 10% top-line growth. About 6% of that would be organic; 4% would be M&A. When we think about acquisition, we are looking to go where the stores are, as I mentioned previously. And you might say, well, are you done yet? And the answer is no -- is that we still probably have a few geographical holes that we would like to fill based on the density of stores that are in those areas.," Stacy Loretz-Congdon, Senior Vice President and Chief Financial Officer, CoreMark Holding.

Core-Mark Holding Company, Inc. Presents at Jefferies 2015 Global Consumer Conference, Jun-24-2015 11:00 AM

Core-Mark Holding Company, Inc. Presents at Jefferies 2015 Global Consumer Conference, Jun-24-2015 11:00 AM. Venue: White Elephant, Nantucket, Massachusetts, United States.

 

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Industry Analysis

CORE

Industry Average

Valuation CORE Industry Range
Price/Earnings 29.6x
Price/Sales 0.2x
Price/Book 2.9x
Price/Cash Flow 27.8x
TEV/Sales 0.1x
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