McCormick: Fiscal 4Q Earnings Snapshot

HUNT VALLEY, Md. (AP) _ McCormick & Co. (MKC) on Thursday reported fiscal fourth-quarter net income of $200.7 million.

On a per-share basis, the Hunt Valley, Maryland-based company said it had net income of 74 cents. Earnings, adjusted for non-recurring costs, were 79 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The spices and seasonings company posted revenue of $1.56 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.58 billion.

For the year, the company reported profit of $747.4 million, or $2.78 per share. Revenue was reported as $5.6 billion.

McCormick expects full-year earnings in the range of $2.91 to $2.96 per share.

McCormick shares have dropped nearly 2% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has risen almost 9% in the last 12 months.

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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

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