McCormick: Q1 Earnings Insights

Shares of McCormick & Co MKC rose 2.2% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were down 33.33% year over year to $0.72, which beat the estimate of $0.58.

Revenue of $1,481,500,000 higher by 22.24% year over year, which beat the estimate of $1,380,000,000.

Guidance

The upcoming fiscal year's EPS expected to be between $2.97 and $3.02.

The upcoming fiscal year's revenue expected to be between $6,049,000,000 and $6,161,000,000.

Conference Call Details

Date: Mar 30, 2021

Time: 08:00 AM

ET Webcast URL: https://ir.mccormick.com/events/event-details/q1-2021-mccormick-company-inc-earnings-conference-call

Technicals

Company's 52-week high was at $105.54

Company's 52-week low was at $67.00

Price action over last quarter: Up 2.97%

Company Description

In its 130-year history, McCormick has become the leading global manufacturer, marketer, and distributor of spices, herbs, extracts, seasonings, and other flavorings. McCormick's customer base includes top quick-service restaurants, retail grocery chains, and other packaged food manufacturers, with about 40% of sales generated beyond its home turf to include 150 other countries and territories. Beyond its namesake brand, the firm's portfolio includes Old Bay, Zatarain's, Thai Kitchen, Frank's RedHot, French's, and the recently cquired Cholula brand.