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McCormick: Fiscal 2Q Earnings Snapshot

June 27, 2019

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.


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

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