UPDATE: McCormick Posts Upbeat Q1 Earnings

McCormick

reported better-than-expected first-quarter earnings. McCormick reported its quarterly earnings of $0.62 per share, up from $0.57 per share, in the year-ago period. Its revenue climbed 6.3% to $993.4 million. However, analysts were expecting a profit of $0.58 per share on revenue of $974.47 million. McCormick reaffirmed its FY14 earnings forecast of $3.22 to 3.29 per share, versus analysts' estimates of $3.25 per share. McCormick shares gained 5.98% to $71.55 at 11:15 a.m. ET.