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McCormick (MKC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended August 2023, McCormick (MKC - Free Report) reported revenue of $1.68 billion, up 5.6% over the same period last year. EPS came in at $0.65, compared to $0.69 in the year-ago quarter.
The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $1.69 billion. With the consensus EPS estimate being $0.65, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how McCormick performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Flavor Solutions: $747.60 million versus $737.38 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12% change.
Net Sales- Consumer: $937.10 million versus the two-analyst average estimate of $950.63 million. The reported number represents a year-over-year change of +1%.
Operating income excluding special charges and transaction and integration expenses- Flavor Solutions: $77.80 million versus the two-analyst average estimate of $75.50 million.
Operating income excluding special charges and transaction and integration expenses- Consumer: $173.30 million compared to the $182.63 million average estimate based on two analysts.
Shares of McCormick have returned -7.1% over the past month versus the Zacks S&P 500 composite's -4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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McCormick (MKC) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended August 2023, McCormick (MKC - Free Report) reported revenue of $1.68 billion, up 5.6% over the same period last year. EPS came in at $0.65, compared to $0.69 in the year-ago quarter.
The reported revenue represents a surprise of -0.41% over the Zacks Consensus Estimate of $1.69 billion. With the consensus EPS estimate being $0.65, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how McCormick performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Flavor Solutions: $747.60 million versus $737.38 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +12% change.
- Net Sales- Consumer: $937.10 million versus the two-analyst average estimate of $950.63 million. The reported number represents a year-over-year change of +1%.
- Operating income excluding special charges and transaction and integration expenses- Flavor Solutions: $77.80 million versus the two-analyst average estimate of $75.50 million.
- Operating income excluding special charges and transaction and integration expenses- Consumer: $173.30 million compared to the $182.63 million average estimate based on two analysts.
View all Key Company Metrics for McCormick here>>>Shares of McCormick have returned -7.1% over the past month versus the Zacks S&P 500 composite's -4.9% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.