CORE - Core-Mark Holding rallies 12% after cigarette sales pop in Q4 guides estimates

Core-Mark Holding ([[CORE]] +11.5%) rallies after reporting cigarette sales growth of 4.6%, beating estimates on both lines in its Q4 earnings report.Revenue of $4.25B (+2.4% Y/Y) beats consensus by $90M, taking full-year revenue to record $17B (+1.7% Y/Y).By segment, Q4 Cigarette sales increased 4.6% driven by manufacturers’ price increases and cigarette carton sales growth of 0.3%, outperforming historical trends; Non-cigarette sales decreased 1.8%; and Other tobacco products sales up 9.2%.Gross profit margin declined to 5.22%, compared to 5.55% a year ago.Adj. EBITDA increased 14.1% to $55.1M. Source: Company Report (Figures in $ millions)Net income increased 17.3% to $19M or $0.42/share, beating consensus by $0.24/share. Non-GAAP EPS of $0.57 beats by $0.26.Core-Mark’s board has approved a new three-year, $375M shareholder return plan supporting increased share buy-backs and growth in dividend.FY 2021 Guidance: Revenue expected to be in the range of $17.2B to $17.5B, compared to the consensus of $17.14B; Adj. EBITDA to be within $208M to $218M; GAAP

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Core-Mark Holding rallies 12% after cigarette sales pop in Q4, guides estimates