McCormick (MKC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - McCormick reported revenue of $1.68 billion for the quarter ended August 2024, reflecting a year-over-year decline of 0.3% and an EPS of $0.83, up from $0.65 a year ago, exceeding both revenue and EPS estimates [1][2] Revenue Performance - Net Sales for Flavor Solutions were $742.40 million, slightly below the estimated $734.15 million, representing a year-over-year decline of 0.7% [3] - Net Sales for Consumer reached $937.40 million, matching the average estimate of $926.75 million, with no change year over year [3] Operating Income - Operating income for Flavor Solutions, excluding special charges, was $101.60 million, surpassing the estimated $90.23 million [3] - Operating income for Consumer, also excluding special charges, was $186.80 million, exceeding the average estimate of $173.42 million [3] Stock Performance - McCormick's shares have returned +2.8% over the past month, outperforming the Zacks S&P 500 composite's +2.2% change, with a Zacks Rank 2 (Buy) indicating potential for near-term outperformance [4]