Spice Maker McCormick Results Boosted by Product Mix, Cost Savings [Yahoo! Finance]
McCormick & Company, Incorporated (MKC)
Last mccormick & company, incorporated earnings: 3/31 06:30 am
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Source: Yahoo! Finance
Sales were down slightly as demand slowed in the Americas and Asia-Pacific region. Adjusted operating income gained on higher gross margin and lower expenses. McCormick & Co. ( MKC ) shares rose Tuesday as the spice maker posted better-than-expected results on its product offerings and cost-cutting. The company reported third-quarter earnings per share (EPS) of $0.83, well above the $0.67 average of analysts surveyed by Visible Alpha. Revenue slipped 0.3% to $1.68 billion, but was also ahead of forecasts. Consumer segment sales were virtually unchanged from a year ago at $937.4 million. Gains in Europe, the Middle East, and Africa (+2.9%) were offset by declines in the Americas (-0.4%) and the Asia-Pacific region (-0.9%). Sales at the Flavor Solutions segment declined 0.7% to $742.4 million as the company sold off a small canning business. Adjusted operating income increased 14.7% from 2023 to $288 million, driven mainly by gross margin expansion in addition to lower sell
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MKC
Earnings
- 10/1/24 - Beat
MKC
Sec Filings
- 12/4/24 - Form 3
- 12/4/24 - Form 4
- 12/4/24 - Form 4
- MKC's page on the SEC website