Core-Mark reports Q2 EPS ex-LIFO expense 21c, consensus 34c
Reports Q2 revenue $3.8B, consensus $3.95B. Reports Q2 non-cigarette sales increased 7.4% while cigarette sales increased 1.3%. "Core-Mark was able to generate modest sales growth in a weaker-than-expected second quarter retail sales environment, but our overall performance fell short of our standards. Our focus is on improving operational execution and leveraging our operating costs as we grow Core-Mark, as well as, continuing to execute on our core growth strategies where we are making good progress. The challenges of managing through a soft convenience industry sales environment and our operating efficiency initiatives are reflected in our revised outlook for 2017. We remain confident in our long-term growth thesis and believe we are positioning Core-Mark for enhanced performance and value creation in the years to come," said CEO Tom Perkins.