McCormick Earnings: Everything You Must Know Now
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)…
Revenue increased 1.34% from $1 billion in the previous quarter. EPS increased 32.2% from $0.59 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.19 to a profit $1.22. For the current year, the average estimate has moved down from a profit of $3.20 to a profit of $3.16 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)