McCormick First Quarter 2024 Earnings: Beats Expectations
McCormick (NYSE:MKC) First Quarter 2024 Results
Key Financial Results
Revenue: US$1.60b (up 2.4% from 1Q 2023).
Net income: US$166.0m (up 19% from 1Q 2023).
Profit margin: 10% (up from 8.9% in 1Q 2023).
EPS: US$0.62 (up from US$0.52 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
McCormick Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%.
Looking ahead, revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the Food industry in the US.
Performance of the American Food industry.
The company's shares are up 11% from a week ago.
Risk Analysis
You should always think about risks. Case in point, we've spotted 1 warning sign for McCormick you should be aware of.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
