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McCormick beats Street 3Q forecasts

SPARKS, Md. (AP) _ McCormick & Co. (MKC) on Thursday reported fiscal third-quarter net income of $108.2 million.

The Sparks, Maryland-based company said it had profit of 85 cents per share. Earnings, adjusted for non-recurring costs, came to $1.12 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.

The spices and seasonings company posted revenue of $1.19 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $1.15 billion.

McCormick expects full-year earnings in the range of $4.20 to $4.24 per share.

McCormick shares have climbed slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 12 percent. The stock has fallen 1 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKC at https://www.zacks.com/ap/MKC


Keywords: McCormick, Earnings Report