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McCormick & Co. Q1 adjusted earnings Beat Estimates

McCormick & Co. (MKC) reported a profit for first quarter that dropped from the same period last year.

The company's earnings totaled $148.0 million, or $1.11 per share. This compares with $422.6 million, or $3.18 per share, in last year's first quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $149.6 million or $1.12 per share for the period.

Analysts had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.8% to $1.23 billion from $1.22 billion last year.

McCormick & Co. earnings at a glance:

-Earnings (Q1): $149.6 Mln. vs. $133.2 Mln. last year.
-EPS (Q1): $1.12 vs. $1.00 last year.
-Analysts Estimate: $1.03
-Revenue (Q1): $1.23 Bln vs. $1.22 Bln last year.

-Guidance:
Full year EPS guidance: $5.17 to $5.27

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