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McCormick Guides FY23 Adj. EPS Below Estimates - Update

RTTNews | vor 673 Tagen

McCormick Guides FY23 Adj. EPS Below Estimates - Update

(RTTNews) - While reporting financial results for the fourth quarter on Thursday, flavor maker McCormick & Co., Inc. (MKC) initiated its earnings, adjusted earnings and sales growth guidance for the full year 2023.

For fiscal 2023, the company now projects earnings in a range of $2.42 to $2.47 per share and adjusted earnings in a range of $2.56 to $2.61 per share on sales growth of 5 to 7 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.90 per share on sales growth of 3.10 percent to $6.63 billion for the year. Analysts' estimates typically exclude special items.

For fiscal 2023, the Company said it expects strong cash flow driven by profit and working capital initiatives and anticipates returning a significant portion of cash flow to shareholders through dividends. It expects strong underlying business performance in 2023 driven by sales growth.

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McCormick Lifts FY24 Earnings View After Strong Q3 Results; Stock Up

McCormick Lifts FY24 Earnings View After Strong Q3 Results; Stock Up

Shares of McCormick & Co. Inc. were gaining around 5 percent in the pre-market activity on the NYSE after the seasonings and spices maker increased its fiscal 2024 outlook for earnings after reporting higher third-quarter earnings, above market. The company further reaffirmed its sales and operating profit growth outlook for the year on a constant currency basis.

RTTNews | vor 59 Tagen

McCormick Slashes FY22 Earnings Outlook - Update

McCormick Slashes FY22 Earnings Outlook - Update

While reporting financial results for the second quarter on Wednesday, flavor maker McCormick & Co., Inc. (MKC) trimmed its earnings and adjusted earnings guidance for the full year 2022, while maintaining annual sales growth outlook.

RTTNews | vor 884 Tagen

TSX Hits New Record High Again, Ends 0.41% Up

TSX Hits New Record High Again, Ends 0.41% Up

The Canadian market posted a record closing high for the third consecutive day as technology stocks climbed higher on strong buying interest on Friday.

RTTNews | vor 12Std 32 Minuten

Dollar Drifts Lower Against Major Currencies

Dollar Drifts Lower Against Major Currencies

The U.S. dollar shed ground against its major counterparts on Friday as the yield on long-term Treasury Notes dropped. Also, with investors choosing to pick up riskier assets such as equities, the dollar struggled for support almost right through the day's session.

RTTNews | vor 13Std 54 Minuten

India GDP Growth Slowest In 7 Quarters On Weak Manufacturing

India GDP Growth Slowest In 7 Quarters On Weak Manufacturing

The Indian economy expanded at the slowest pace in seven quarters during the three months to September as the stronger performance of the services sector was offset by the sluggishness in manufacturing and mining industries, preliminary data from the statistics ministry showed on Friday.

RTTNews | vor 14Std 16 Minuten

Swiss Market Ends Higher After Choppy Session

Swiss Market Ends Higher After Choppy Session

The Switzerland market closed on a positive note on Friday after a choppy session, as investors assessed the region's economic data and continued to closely follow the developments on the geopolitical front.

RTTNews | vor 17Std 17 Minuten

European Markets Close On Firm Note

European Markets Close On Firm Note

European stocks closed higher on Friday amid expectations of further rate cuts by central banks despite data showing an acceleration in eurozone inflation. Investors also digested French GDP data and Germany's retails sales and unemployment data.

RTTNews | vor 17Std 35 Minuten

Canadian Market Continues To Climb Higher; TSX Up Modestly At Noon

Canadian Market Continues To Climb Higher; TSX Up Modestly At Noon

The Canadian market has moved on to a new record high on Friday, lifted by gains in technology, industrials and materials sectors, as investors continue to remain optimistic about more interest rate reductions by the central bank.

RTTNews | vor 18Std 23 Minuten

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