McCormick & Co shares sink after revenue miss, weak guidance [MarketWatch]
McCormick & Company, Incorporated (MKC)
Last mccormick & company, incorporated earnings: 3/31 06:30 am
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Source: MarketWatch
McCormick & Co shares sink after revenue miss, weak guidance McCormick & Co. MKC, +0.02% stock fell 7.3% in Tuesday premarket trading after the spice company reported fourth-quarter revenue that missed expectations and gave weak 2020 guidance. Net income totaled $213.4 million, or $1.59 per share, down from $214.0 million, or $1.60 per share last year. Adjusted EPS of $1.61 met the FactSet consensus. Sales of $1.48 billion was up from $1.47 billion last year but below the $1.52 billion FactSet outlook. For fiscal 2020, McCormick expects sales to grow 2% to 4%, driven by new products, marketing and expanded distribution. EPS is expected to be in the range of $5.15 to $5.25 and adjusted EPS in the range of $5.20 to $5.30. The FactSet consensus is for sales of $5.54 billion, which suggests a 3.6% increase, and EPS of $5.55. McCormick stock has gained 41.7% over the last year while the S&P 500 index is up 22.7% for the period.
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MKC
Earnings
- 3/26/24 - Beat
MKC
Sec Filings
- 4/23/24 - Form 4
- 4/23/24 - Form 4
- 4/23/24 - Form 4
- MKC's page on the SEC website