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How will McCormick & Co's stock perform one week after Q3 2024 earnings release?
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Story
McCormick & Co Beats Q2 Estimates with $0.69 EPS, $1.64B Revenue, Stock Up 3.8%
Jun 27, 2024, 12:10 PM
McCormick & Co reported strong second-quarter earnings, surpassing market expectations. The company posted adjusted earnings per share (EPS) of $0.69, exceeding the estimated $0.59, and revenue of $1.64 billion, slightly above the forecasted $1.63 billion. The EPS for the quarter was $0.68, compared to $0.56 in the year-ago period, while adjusted EPS was $0.69 compared to $0.60 in the previous year. Operating income was $234 million, up from $222 million in the same quarter last year. This performance was driven by robust demand for its spices and seasonings in the Europe, Middle East, and Africa (EMEA) region. Additionally, McCormick reaffirmed its 2024 outlook, projecting full-year EPS in the range of $2.80 to $2.85. The company's stock rose by 3.8% in pre-market trading following the earnings announcement.
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