McCormick: Overview of Fiscal Fourth Quarter Results
McCormick & Co. Announces Fourth-Quarter Financial Results
McCormick & Co., headquartered in Hunt Valley, Maryland, revealed on Thursday that its net income for the fiscal fourth quarter reached $226.6 million.
The company reported earnings of 84 cents per share, with adjusted earnings—excluding one-time expenses—totaling 86 cents per share.
These figures came in below analyst projections, as a consensus of six analysts polled by Zacks Investment Research had anticipated earnings of 87 cents per share.
During the quarter, McCormick generated $1.85 billion in revenue, which also missed expectations. Four analysts surveyed by Zacks had forecasted revenue of $1.86 billion.
For the full year, McCormick posted a profit of $789.4 million, translating to $2.93 per share, with total revenue reported at $6.84 billion.
Looking ahead, the company forecasts its annual earnings to fall between $3.05 and $3.13 per share.
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