Chairman, President, and CEO's Remarks Brendan M. Foley, Chairman, President, and CEO, stated, "We are pleased to report strong performance for both fourth quarter and fiscal year 2024, an important year for McCormick, in which we built momentum and strengthened our leadership, returning to differentiated and sustainable volume-led growth. We successfully delivered on our objectives for the year. Our strategic investments in core categories enabled us to drive positive volume growth, expand our margins, and ...

Core Insights - McCormick & Company reported strong financial performance for both the fourth quarter and fiscal year 2024, achieving sustainable volume-led growth and strengthening its leadership position in the flavor industry [2][5][20] Financial Performance - For the fourth quarter of 2024, total net sales increased by 2.6%, with organic sales rising by 2% driven by volume and product mix [3][8] - The consumer segment saw a sales increase of 3.5%, while the Flavor Solutions segment experienced a 1.2% increase [3][11] - Earnings per share (EPS) for Q4 2024 was $0.80, a slight decrease from $0.81 in Q4 2023, while adjusted EPS was also $0.80 compared to $0.85 in the previous year [5][13] - For the fiscal year 2024, total net sales increased by 0.9%, with EPS rising to $2.92 from $2.52 in 2023 [4][18] Profitability Metrics - Gross profit for Q4 2024 was $722.2 million, reflecting a 3% increase year-over-year, with a gross profit margin of 40.2% [7][9] - Operating income for Q4 2024 was $306.2 million, up from $297.2 million in Q4 2023, while adjusted operating income was $307.8 million [10][17] - The fiscal year 2024 saw gross profit increase to $2,591 million, with a gross profit margin expansion of 90 basis points [16][19] Cash Flow and Dividends - Cash flow from operations for fiscal year 2024 was $922 million, down from $1.2 billion in 2023, attributed to increased working capital and higher incentive compensation payments [5][19] - The company authorized a 7% increase in its quarterly dividend, marking the 39th consecutive year of dividend increases [5] 2025 Financial Outlook - For fiscal year 2025, McCormick expects net sales growth of 0% to 2%, with adjusted operating income growth projected at 3% to 5% [20][21] - The company anticipates a 1% unfavorable impact from foreign currency exchange on sales and adjusted operating income [20][33] - Adjusted EPS for 2025 is projected to be between $3.03 and $3.08, reflecting continued investments in core categories to drive long-term growth [21][33]

McCormick & Company, Incorporated MKC will release its fourth-quarter financial results, before the opening bell, on Thursday, Jan. 23, 2025.Analysts expect the Hunt Valley, Maryland-based company to report quarterly earnings at 77 cents per share, down from 85 cents per share in the year-ago period. McCormick projects quarterly revenue of $1.77 billion, compared to $1.75 billion a year earlier, according to data from Benzinga Pro.On Nov. 19, 2024, McCormick raised its quarterly dividend from 42 cents to 45 ...

Core Viewpoint - McCormick & Company is expected to report revenue growth in its fourth-quarter fiscal 2024 earnings, with a consensus estimate of $1.77 billion, reflecting a 0.8% increase from the previous year [1]. Revenue and Earnings Estimates - The consensus estimate for earnings has decreased by a penny to 77 cents per share, indicating a 9.4% decline from the same period last year [2]. - McCormick has a trailing four-quarter earnings surprise average of 13.8% [2]. Factors Influencing Results - McCormick achieved global positive volume growth in the third quarter of fiscal 2024, with solid growth in the Consumer segment despite challenges in China [3]. - The Flavor Solutions segment saw sequential volume improvements, particularly in Branded Foodservice, showcasing the company's resilience in complex macroeconomic conditions [3]. - Strategic investments in innovation and distribution expansion are yielding positive results, focusing on brand marketing, product innovation, and proprietary technology [4]. Future Expectations - For 2024, McCormick anticipates a favorable impact from prior pricing actions, with expected improvements in volume trends due to strong brands and targeted investments [5]. - The company plans to discontinue low-margin businesses, which may pressure volume in 2024 but is seen as a long-term strategic move [5]. - Brand marketing expenditures are expected to increase by a high-single-digit percentage for fiscal 2024, with a double-digit rise in investments [7]. Cost and Margin Outlook - Operating profit for the fourth quarter is likely to remain flat year over year, with margin expansion constrained by supply-chain investments and inflationary pressures [8]. - A low-single-digit increase in cost inflation is anticipated for fiscal 2024 [8]. Earnings Prediction - The model predicts an earnings beat for McCormick, supported by a positive Earnings ESP of +1.02% and a Zacks Rank of 3 (Hold) [9].

The upcoming report from McCormick (MKC) is expected to reveal quarterly earnings of $0.77 per share, indicating a decline of 9.4% compared to the year-ago period. Analysts forecast revenues of $1.77 billion, representing an increase of 0.8% year over year.The consensus EPS estimate for the quarter has been revised 0.1% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead of a com ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering McCormick (MKC) , which belongs to the Zacks Food - Miscellaneous industry.This spices and seasonings company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 19.50%.For the last reported quarter, McCormick came out with earnings of $0.83 per share ver ...

The market expects McCormick (MKC) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended November 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released o ...

Group 1: Acquisition Consideration - McCormick & Company is considering acquiring Sauer Brands from Falfurrias Capital Partners for a valuation exceeding $1 billion [1] - Sauer Brands is known for its Duke's mayonnaise and also produces spices, herbs, and other condiments [1] Group 2: Recent Financial Performance - As of August 31, 2024, McCormick held $200.8 million in cash and equivalents [3] - The company reported third-quarter sales of $1.68 billion, surpassing the analyst consensus estimate of $1.67 billion [3] - Adjusted EPS for the quarter was 83 cents, exceeding the street view estimate of 67 cents [3] - McCormick anticipates fiscal 2024 sales growth between -1% and 1% and expects EPS of $2.85 to $2.90, compared to the analyst consensus of $2.86 [3] Group 3: Market Sentiment and Stock Performance - Jim Cramer recommended buying McCormick on CNBC's "Mad Money Lightning Round," describing it as an excellent investment idea [4] - McCormick's stock has surged over 15% year-to-date [4] - As of the publication date, McCormick's stock price was up 0.64% at $80.68 [5]

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Core Viewpoint - McCormick & Co. (NYSE: MKC) is expected to benefit from the trend of increased food consumption at home as consumers reduce discretionary spending on dining out, leading to higher demand for its products [1] Group 1: Company Analysis - The investment thesis suggests that MKC is positioned well to capitalize on changing consumer behavior towards home dining [1] - The company is viewed as having long-term growth potential, particularly as it aligns with value investing principles [1] Group 2: Market Context - The current economic environment is prompting consumers to pull back on discretionary spending, which is likely to drive demand for food products that can be prepared at home [1]