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Core-Mark beats 4Q profit forecasts

SOUTH SAN FRANCISCO, Calif. (AP) _ Core-Mark Holding Co. (CORE) on Thursday reported fourth-quarter net income of $10.8 million.

The South San Francisco, California-based company said it had profit of 23 cents per share. Earnings, adjusted for non-recurring costs, came to 33 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The wholesale consumer products distributor posted revenue of $4.07 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $4.11 billion.

For the year, the company reported profit of $33.5 million, or 72 cents per share. Revenue was reported as $15.69 billion.

Core-Mark expects full-year earnings in the range of $1.13 to $1.29 per share, with revenue in the range of $16.6 billion to $16.8 billion.

Core-Mark shares have dropped 35 percent since the beginning of the year. The stock has declined 37 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CORE at https://www.zacks.com/ap/CORE