MKC Stock Recent News

McCormick & Co. benefits from the food-at-home trend, boosting demand for seasonings, but faces challenges in the Flavor Solutions segment due to a weak quick-service restaurant outlook. MKC's valuation is concerning at 27.4x forward PE, with consensus assuming normalized EPS growth, limiting upside potential despite positive volume and margin expansion. The latest earnings report shows flat net sales, but gross profit and EBIT margin improved, driven by positive volume/mix growth in the consumer segment.

McCormick & Company, Incorporated remains a long-term buy despite potential short-term pressure; consider selling puts to define entry or collect premium. Fiscal Q3 sales were flat year-over-year, with regional differences and a strategic divestment impacting results; gross profit margin expanded 170 basis points. EPS for Q3 increased 32% to $0.83, driven by cost savings and favorable mix; 2024 EPS guidance raised to $2.81-$2.86.

McCormick & Company, Incorporated (NYSE:MKC ) Q3 2024 Earnings Conference Call October 1, 2024 8:00 AM ET Company Participants Faten Freiha - Vice President, Investor Relations Brendan Foley - President and Chief Executive Officer Mike Smith - Executive Vice President and Chief Financial Officer Marcos Gabriel - Incoming Executive Vice President and Chief Financial Officer Conference Call Participants Andrew Lazar - Barclays Ken Goldman - JPMorgan Peter Galbo - Bank of America Alexia Howard - Bernstein Max Gumport - BNP Paribas Stephen Powers - Deutsche Bank Rob Dickerson - Jefferies Robert Moskow - TD Cowen Adam Samuelson - Goldman Sachs Thomas Palmer - Citi Faten Freiha Good morning. This is Faten Freiha, VP of Investor Relations.

While the top- and bottom-line numbers for McCormick (MKC) give a sense of how the business performed in the quarter ended August 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

McCormick's stock edged higher Tuesday, after the spices and flavor company beat fiscal third-quarter profit expectations and raised its full-year outlook, as volume increased for the first time in about three years.

CNBC's Jim Cramer delivers his daily Mad Dash.

McCormick (MKC) came out with quarterly earnings of $0.83 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.65 per share a year ago.

Hot sauce maker McCormick raised its annual earnings forecast on Tuesday after posting better-than-expected third-quarter results, banking on consumers choosing to make meals at home to curb discretionary spending amid sticky inflation.

McCormick & Company, Incorporated MKC will release earnings results for its third quarter, before the opening bell on Tuesday, Oct. 1.

McCormick & Company, Incorporated MKC will release earnings results for its third quarter, before the opening bell on Tuesday, Oct. 1.