MKC Stock Recent News

McCormick (MKC) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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WILMINGTON, Del.--(BUSINESS WIRE)--Citizens for Judicial Fairness released the following statement today after Delaware's Chancellor Kathaleen McCormick granted $176 million in legal fees as part of the Tesla board pay case: “Just a few short months after Delaware celebrated $175 million in Medicaid funding as ‘the single greatest reinforcement of Delaware's Medicaid program' since the Affordable Care Act, Chancellor McCormick awarded the same amount of money to three law firms in a single verd.

HUNT VALLEY, Md., Jan. 2, 2025 /PRNewswire/ -- McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, is scheduled to conduct a conference call and webcast of its fourth quarter 2024 financial results on Thursday, January 23, 2025, at 8:00 a.m.

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.

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