McCormick tops 3Q earnings and revenue expectations

MarketsAssociated Press

McCormick & Co. (MKC) on Thursday reported profit of $122.9 million in its fiscal third quarter.

The Sparks, Maryland-based company said it had profit of 94 cents per share. Earnings, adjusted for non-recurring costs, came to 95 cents per share.

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The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.

The spices and seasonings company posted revenue of $1.04 billion in the period, which also topped Street forecasts. Analysts expected $1.03 billion, according to Zacks.

McCormick expects full-year earnings in the range of $3.30 to $3.37 per share.

McCormick shares have declined nearly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 5 percent. The stock has increased 1 percent in the last 12 months.

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This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full MKC report: http://www.zacks.com/ap/MKC

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Keywords:McCormick,Earnings Report