McCormick & Co. (NYSE: MKC) reported Q2 EPS of $0.75, $0.07 better than the analyst estimate of $0.68. Revenue for the quarter came in at $1.02 billion versus the consensus estimate of $1.04 billion.

Alan D. Wilson, Chairman and CEO, commented, "Our second quarter results demonstrated the effectiveness of our sales and profit growth strategies and continued the momentum from the first quarter. Both our consumer and industrial segments delivered higher sales in constant currency across each region. We are driving this growth by developing innovative products, building brand equity and strengthening our customer relationships. Performance this period was particularly strong in our top emerging markets, with constant currency sales increases at a high single-digit rate in China and at a double-digit rate, in Mexico and across Eastern Europe and Russia. In developed markets, we are having success in our U.S. consumer business with our grilling campaign, further share gains in recipe mixes and increased sales of Zatarain's. Through the first half of 2015 in constant currency, we had strong consumer business sales growth in France and Australia from the year-ago period, and our Europe, Middle East and Africa region (EMEA) continues to drive sales to quick service restaurants.

"Acquisitions are another important avenue of growth for McCormick and in June, we were pleased to announce our third agreement in 2015. The addition of Stubb's, the leading U.S. brand of premium barbecue sauce will be an excellent complement to our portfolio of Grill Mates and other items that add flavor at the grill. Together with the acquisitions of Drogheria & Alimentari and Brand Aromatics, we have greater confidence in achieving the upper end of our 4% to 6% projected constant currency sales growth for 2015.

"Employees throughout the organization are making steady progress in lowering cost through our Comprehensive Continuous Improvement (CCI) program and additional streamlining actions, and we are on track to deliver at least $85 million of cost savings in 2015. Through the first half, we have recorded $47 million of special charges. Excluding these charges, our cost savings, along with our sales results and a favorable tax rate, contributed to higher adjusted earnings per share in the second quarter. We are also focused on generating significant cash flow and through the first half achieved $186 million in cash flow from operations. Based on our first half performance, strong execution and our latest 2015 outlook, we expect to deliver another year of solid financial performance for McCormick shareholders."

McCormick & Co. sees FY2015 EPS of $3.47-$3.54, versus prior guidance of $3.44-$3.51 and the consensus of $3.50.

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