McCormick (MKC) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 16.95%. A quarter ago, it was expected that this spices and seasonings company would post earnings of $0.58 per share when it actually produced earnings of $0.63, delivering a surprise of 8.62%. McCormick, which belongs t ...

HUNT VALLEY, Md., June 27, 2024 - McCormick & Company, Incorporated (NYSE:MKC), a global leader in flavor, today reported financial results for the second quarter ended May 31, 2024 and reaffirmed fiscal 2024 outlook. · Earnings per share was $0.68 in the second quarter as compared to $0.56 in the year-ago period. Adjusted earnings per share was $0.69 compared to $0.60 in the year-ago period. Brendan M. Foley, President and CEO, stated, "We are pleased with our performance for the first half of the year, wh ...

CONSUMER FLAVOR SOLUTIONS The non-GAAP measure included herein, which we refer to as "constant currency", excludes the impact of foreign currency exchange. See slide 30 for the impact of constant currency. 11 2Q 2024 SALES RESULTS: CONSUMER SEGMENT AMERICAS CONSUMER -0.3% -1.3% 0.0% 0.0% -1.6% Volume/Mix Price Divestitures Currency Net Sales Acquisitions/ Divestitures -1.6% constant currency Pricing investments of -1% Volume and mix flat reflecting: – Spices and Seasonings growth – Prepared food categories, ...

"Overall, we are confident in the sustained trajectory of our business, and in our ability to deliver on our 2024 outlook and long-term financial objectives. Our commitment is underpinned by our proven track record, our broad and advantaged global portfolio, our focus on high growth, profitable categories, our alignment with consumer trends, as well as our differentiated heat platform. Our business fundamentals are strong, and we expect to continue to deliver profitable growth and drive value for shareholde ...

Investor Relations: Faten Freiha -[email protected] Global Communications: Lori Robinson -[email protected] SOURCE McCormick & Company, Incorporated "Mike has been an integral leader for McCormick for more than three decades," said Brendan M. Foley, President and Chief Executive Officer (CEO) for McCormick. "Since he stepped into the role as CFO, sales grew at an industry leading pace of over 50% and we delivered significant shareholder value. His strategic leadership and focus on value creation have been i ...

McCormick & Company, Incorporated (MKC) is likely to register top- and bottom-line decline when it reports second-quarter fiscal 2024 earnings on Jun 27. The Zacks Consensus Estimate for revenues is pegged at $1.6 billion, suggesting a decline of almost 2% from the prior-year quarter's reported figure. The global leader in flavor has a trailing four-quarter earnings surprise of 5.4%, on average. MKC delivered an earnings surprise of 8.6% in the last reported quarter. The company has been grappling with cost ...

This is the 100th year of consecutive dividend payments by the Company. For information contact: McCormick & Company, Incorporated is a global leader in flavor. With over $6.5 billion in annual sales across 150 countries and territories, we manufacture, market, and distribute herbs, spices, seasonings, condiments and flavors to the entire food and beverage industry including retailers, food manufacturers and foodservice businesses. Our most popular brands with trademark registrations include McCormick, Fren ...

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. The combined assessment of analysts suggests that 'Net Sales- Flavor Solutions' will likely reach $725.85 million. The estimate suggests a change of -2.8% year over year. View all Key Company Metrics for McCormick here>>> Before a company announces its earnings, it is essent ...

On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines. Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019. The market's breadth is thin. Much of the growth comes from a small group of stocks, particu ...

While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. Revenues are expected to be $1.63 billion, down 2% from the year-ago quarter. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Thus, a positive or negative Earnings E ...