McCormick (MKC) Q1 Earnings Coming Up: Factors to Note
McCormick & Company, Incorporated MKC is likely to register top-and bottom-line decline when it reports first-quarter fiscal 2024 earnings on Mar 26. The Zacks Consensus Estimate for revenues is pegged at $1.6 billion, suggesting a dip of 0.8% from the prior-year quarter’s reported figure.
The Zacks Consensus Estimate for quarterly earnings has moved down by a penny to 58 cents per share in the past seven days, projecting 1.7% decline from the figure reported in the year-ago period quarter.
The global leader in flavor has a trailing four-quarter earnings surprise of 8.3%, on average. MKC delivered an earnings surprise of 7.6% in the last reported quarter.
McCormick & Company, Incorporated Price and EPS Surprise
McCormick & Company, Incorporated price-eps-surprise | McCormick & Company, Incorporated Quote
Things To Note
McCormick has been grappling with cost inflation, which is putting pressure on the margin performance. In addition, the company is witnessing rising selling and general and administrative expenses. In this regard, elevated employee incentive compensation expenses and increased brand marketing costs have been hurting.
A tough consumer landscape stemming from a challenging macroeconomic environment has been putting pressure on the company’s volumes. McCormick’s international presence keeps it exposed to risks of unfavorable foreign currency translations. The persistence of these factors is likely to have hurt the company’s performance in the to-be-reported quarter.
McCormick’s effective pricing strategy keeps aiding growth. The company’s focus on prudent buyouts and practical cost-saving efforts bodes well.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for McCormick this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
McCormick carries a Zacks Rank #3 and has an Earnings ESP of -1.97%.
Some Stocks With Favorable Combination
Here are some companies worth considering, as our model shows that these have the right elements to beat on earnings this time.
The Hershey Company HSY has an Earnings ESP of +0.72% and a Zacks Rank #3. The company is likely to witness top-line growth when it reports first-quarter 2024 results. The Zacks Consensus Estimate for Hershey’s quarterly revenues is pegged at $3.12 billion, which suggests a rise of 4.3% from the figure reported in the prior-year quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Hershey’s quarterly EPS has declined by 2 cents in the past 30 days to $2.72, which suggests a decrease of 8.1% from the year-ago quarter’s level. HSY has a trailing four-quarter earnings surprise of 6.5%, on average.
Newell Brands NWL currently has an Earnings ESP of +10.71% and a Zacks Rank #3. The company is likely to register a top-and-bottom-line decline when it reports first-quarter 2024 numbers. The Zacks Consensus Estimate for Newell’s quarterly revenues is pegged at $1.64 billion, which calls for a drop of 8.9% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Newell’s bottom line stands at a loss of 7 cents, which suggests a decrease of 16.7% from the year-ago quarter’s loss of 6 cents. HSY has a trailing four-quarter earnings surprise of 33.4%, on average.
Inter Parfums IPAR currently has an Earnings ESP of +4.65% and a Zacks Rank of 3. The company is likely to register a top-line increase when it reports first-quarter 2024 numbers. The Zacks Consensus Estimate for Inter Parfums’ quarterly revenues is pegged at $333.8 million, indicating a rise of 7.1% from the figure reported in the prior-year quarter.
The Zacks Consensus Estimate for Inter Parfums’ quarterly earnings of $1.63 per share suggests a decrease of almost 3% from the year-ago quarter’s levels. IPAR has a trailing four-quarter earnings surprise of 16.4%, on average.
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Newell Brands Inc. (NWL) : Free Stock Analysis Report
Hershey Company (The) (HSY) : Free Stock Analysis Report
McCormick & Company, Incorporated (MKC) : Free Stock Analysis Report
Inter Parfums, Inc. (IPAR) : Free Stock Analysis Report
