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McCormick's Fiscal Q3 Adjusted Earnings Rise, Net Sales Unchanged; Fiscal 2024 Guidance Updated
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McCormick's Fiscal Q3 Adjusted Earnings Rise, Net Sales Unchanged; Fiscal 2024 Guidance Updated
Oct 2, 2024 10:03 PM

07:02 AM EDT, 10/01/2024 (MT Newswires) -- McCormick ( MKC ) reported fiscal Q3 adjusted earnings Tuesday of $0.83 per diluted share, up from $0.65 a year earlier.

Analysts polled by Capital IQ expected $0.67.

Net sales for the quarter ended Aug. 31 were $1.68 billion, unchanged from a year earlier.

Analysts surveyed by Capital IQ expected $1.67 billion.

The company now expects fiscal 2024 adjusted EPS of $2.85 to $2.90, compared with its prior guidance of between $2.80 and $2.85. Analysts polled by Capital IQ expect $2.87.

Net sales for the fiscal year are now expected to range from 1% growth to a 1% decline, compared with its earlier forecast of a flat to a 2% decline.

Shares of McCormick ( MKC ) were up 1.8% in recent Tuesday premarket activity.

Price: 83.80, Change: +1.50, Percent Change: +1.82

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