McCormick Reports On First Quarter Results And Latest Financial Outlook
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McCormick & Co. (MKC) Tops Q1 EPS by 1c; Guides FY17 In-Line
March 28, 2017 6:32 AM EDTMcCormick & Co. (NYSE: MKC) reported Q1 EPS of $0.76, $0.01 better than the analyst estimate of $0.75. Revenue for the quarter came in at $1.04 billion versus the consensus estimate of $1.06 billion.
Sales rose 1% in the first quarter from the year-ago period. In constant currency, the company grew sales 4%, with increases in both the consumer and industrial segments.McCormick increased gross profit margin to 39.6% from 39.3% in the first quarter of 2016. Operating income was $134 million in the first quarter compared to $129 million in the year-ago period. Adjusted operating income was $138 million, a 5% increase from $131 million... More