McCormick: Fiscal 3Q Earnings Snapshot

HUNT VALLEY, Md. (AP) _ McCormick & Co. (MKC) on Tuesday reported fiscal third-quarter net income of $206.1 million.

On a per-share basis, the Hunt Valley, Maryland-based company said it had net income of $1.53.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.

The spices and seasonings company posted revenue of $1.43 billion in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.39 billion.

McCormick expects full-year earnings in the range of $5.64 to $5.72 per share.

McCormick shares have increased 15% since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 4%. The stock has risen 22% 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

Copyright © 2020 . All rights reserved. This website is not intended for users located within the European Economic Area.

Comments

Sign up for breaking news alerts