McCormick: Fiscal 2Q Earnings Snapshot
HUNT VALLEY, Md. (AP) _ McCormick & Co. (MKC) on Thursday reported fiscal second-quarter profit of $149.4 million.
The Hunt Valley, Maryland-based company said it had profit of $1.12 per share. Earnings, adjusted for non-recurring costs, were $1.16 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The spices and seasonings company posted revenue of $1.3 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.31 billion.
McCormick expects full-year earnings in the range of $5.20 to $5.30 per share.
McCormick shares have increased 8% since the beginning of the year, while the Standard & Poor’s 500 index has risen 16%. The stock has increased 41% in the last 12 months.