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Here's What Key Metrics Tell Us About McCormick (MKC) Q2 Earnings

Zacks Equity Research
·2-min read

McCormick (MKC) reported $1.64 billion in revenue for the quarter ended May 2024, representing a year-over-year decline of 1%. EPS of $0.69 for the same period compares to $0.60 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $1.63 billion, representing a surprise of +1.05%. The company delivered an EPS surprise of +16.95%, with the consensus EPS estimate being $0.59.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how McCormick performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Flavor Solutions: $738.70 million versus $725.85 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.

  • Net Sales- Consumer: $904.50 million versus the two-analyst average estimate of $892.37 million. The reported number represents a year-over-year change of -0.8%.

  • Operating income excluding special charges and transaction and integration expenses- Flavor Solutions: $86.60 million versus $78.38 million estimated by two analysts on average.

  • Operating income excluding special charges and transaction and integration expenses- Consumer: $149.30 million compared to the $151.21 million average estimate based on two analysts.

View all Key Company Metrics for McCormick here>>>

Shares of McCormick have returned -3.6% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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McCormick & Company, Incorporated (MKC) : Free Stock Analysis Report

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Zacks Investment Research