McCormick Guides FY23 Adj. EPS Below Estimates - Update

RTTNews | 631 days ago
Stocktwits
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.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: MKC
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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 | 17 days ago
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 | 842 days ago
U.S. Housing Starts Pull Back Modestly As Multi-Family Starts Extend Plunge

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After reporting a sharp increase in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Friday showing a modest pullback by housing starts in the month of September. The Commerce Department said housing starts fell by 0.5 percent to an annual rate of 1.354 million in September.
RTTNews | 6h 51min ago
CPSC Recalls: Textron ROVs, Colsen Fire Pits, Anker Power Banks, Oliva Cigar Lighters

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RTTNews | 6h 56min ago
U.S. Housing Starts Show Modest Pullback In September

U.S. Housing Starts Show Modest Pullback In September

After reporting a sharp increase in new residential construction in the U.S. in the previous month, the Commerce Department released a report on Friday showing a modest pullback by housing starts in the month of September.
RTTNews | 7h 44min ago
Bay Street Likely To Open Higher

Bay Street Likely To Open Higher

The Canadian market is seen opening on a positive note Friday morning, with materials shares set for some upside thanks to firm metal prices. With the economic calendar blank and no big earnings updates due for the day, trading is likely to remain somewhat lackluster.
RTTNews | 7h 57min ago
Sensex, Nifty Snap Three Day Losing Streak

Sensex, Nifty Snap Three Day Losing Streak

Indian shares recovered from an early slide to end modestly higher on Friday. Rate-sensitive banks, automakers and metal stocks advanced, offsetting weakness in the IT and FMCG sectors.
RTTNews | 10h 7min ago
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