We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
McCormick (MKC) Posts Upbeat Earnings and Revenues in Q3
Read MoreHide Full Article
McCormick & Company, Inc. (MKC - Free Report) is a global leader in spices, seasonings, specialty foods and flavors. The company has a strong brand portfolio and owns more than 250 brands that are sold in the U.S. and in international markets.
McCormick’s strong portfolio and leading brands are consistently helping it to achieve strong growth. McCormick has been witnessing rising demand for spices, herbs and seasonings over the last few years. Further, its focus on building sales through brand marketing investments and acquisitions have been driving earnings.
McCormick has also been regularly launching new products in order to remain competitive. Its increasing focus on higher pricing and cost savings and enhancing productivity through its ongoing initiative, the Comprehensive Continuous Improvement program is also encouraging. However, sluggishness due to weak demand from quick service restaurants remains a concern.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 and 2018 increased by 0.2% and 0.6% in the last thirty days. However, in the trailing four quarters, excluding quarter under review, the company exceeded the Zacks Consensus Estimate by an average of nearly 4.4%.
Zacks Rank: Currently, MKC has a Zacks Rank #3 (Hold), but that could definitely change following McCormick’s earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MKC’s adjusted earnings of $1.12 per share outpaced our consensus of $1.05 per share. Investors should note that these figures take out stock option expenses.
Revenue: MKC posted revenues of $1.185 billion, which marginally beat our consensus estimate of $1.146 billion.
Key Stats to Note: McCormick’s sales grew 8.4% on a constant currency basis, driven by acquisition benefits and product innovation, expanded distribution, as well as pricing actions. The company updated its fiscal 2017 guidance to reflect the acquisition of RB Foods and lower impact from unfavorable currency headwinds.
Stock Price: Shares were in-active in pre-market trading.
Check back later for our full write up on this MKC earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
McCormick (MKC) Posts Upbeat Earnings and Revenues in Q3
McCormick & Company, Inc. (MKC - Free Report) is a global leader in spices, seasonings, specialty foods and flavors. The company has a strong brand portfolio and owns more than 250 brands that are sold in the U.S. and in international markets.
McCormick’s strong portfolio and leading brands are consistently helping it to achieve strong growth. McCormick has been witnessing rising demand for spices, herbs and seasonings over the last few years. Further, its focus on building sales through brand marketing investments and acquisitions have been driving earnings.
McCormick has also been regularly launching new products in order to remain competitive. Its increasing focus on higher pricing and cost savings and enhancing productivity through its ongoing initiative, the Comprehensive Continuous Improvement program is also encouraging. However, sluggishness due to weak demand from quick service restaurants remains a concern.
Earnings Estimate Revision: The Zacks Consensus Estimate for 2017 and 2018 increased by 0.2% and 0.6% in the last thirty days. However, in the trailing four quarters, excluding quarter under review, the company exceeded the Zacks Consensus Estimate by an average of nearly 4.4%.
Zacks Rank: Currently, MKC has a Zacks Rank #3 (Hold), but that could definitely change following McCormick’s earnings report which was just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MKC’s adjusted earnings of $1.12 per share outpaced our consensus of $1.05 per share. Investors should note that these figures take out stock option expenses.
Revenue: MKC posted revenues of $1.185 billion, which marginally beat our consensus estimate of $1.146 billion.
Key Stats to Note: McCormick’s sales grew 8.4% on a constant currency basis, driven by acquisition benefits and product innovation, expanded distribution, as well as pricing actions. The company updated its fiscal 2017 guidance to reflect the acquisition of RB Foods and lower impact from unfavorable currency headwinds.
Stock Price: Shares were in-active in pre-market trading.
Check back later for our full write up on this MKC earnings report later!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>