Core-Mark Holding Company Inc Issues FY 2013 Guidance; EPS Guidance Below Analysts' Estimates

Core-Mark Holding Company Inc announced that for fiscal 2013, it expects annual net sales to be between $9.8 billion to $10.0 billion, a 10% to 12% increase. This expected growth over 2012 is driven by incremental sales from recent acquisition of J.T. Davenport, market share gains and additional penetration into existing stores, leveraging vendor consolidation and focused marketing initiatives. Adjusted EBITDA for fiscal 2013 is expected to be between $112 million to $115 million, diluted earnings per share (EPS) for fiscal 2013 are expected to be between $3.10 and $3.25, which includes a $3.7 million increase in LIFO expense to $16 million which decreases EPS by $0.19. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $9.8 billion, EBITDA of $106 million and EPS of $3.91 for fiscal 2013.