McCormick & Co. Inc. (NYSE:MKC) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
McCormick & Co. Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share were the same at $0.78 in the quarter as EPS of $0.78 in the year-earlier quarter.
Revenue: Rose 3.92% to $1.02 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: McCormick & Co. Inc. reported adjusted EPS income of $0.78 per share. By that measure, the company met the mean analyst estimate of $0.78. It missed the average revenue estimate of $1.03 billion.
Quoting Management: Alan D. Wilson, Chairman, President and CEO, commented, “We are making great progress with our growth initiatives at McCormick, although several factors impacted our financial results in the third quarter. While we expect stronger growth in the fourth quarter, we have moderated our projections for this period.”
Key Stats (on next page)…