logo
Plus   Neg
Share
Email

McCormick Reaffirms FY19 Outlook - Quick Facts

While reporting financial results for the first quarter of fiscal 2019 on Tuesday, McCormick & Co., Inc. (MKC) reaffirmed its earnings per share and sales outlook for the full year.

The company said it expects another year of strong performance driven by its broad and advantaged flavor portfolio, effective growth strategies and focus on profit realization.

For fiscal 2019, the company continues to project earnings in the range of $5.09 to $5.19 per share and adjusted earnings in the range of $5.17 to $5.27 per share on sales growth of 1 to 3 percent, which in constant currency is a 3 to 5 percent projected growth rate.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.22 per share on sales growth of 1.7 percent to $5.50 billion for the year. Analysts' estimates typically exclude special items.

The company also projects another year of strong cash flow, with plans to return a significant portion to McCormick's shareholders through dividends and to pay down debt.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Volvo Cars issued a recall for 507,000 vehicles worldwide, citing a risk of fire due to a faulty engine component. The Swedish automaker reportedly said it has received reports of a small number of cars catching fire, but no one has been injured. The recall could affect certain vehicles produced during the period from 2014 to 2019 and having two-liter, four-cylinder diesel engines. Auction house Sotheby's said on the 50th anniversary of the Apollo 11 lunar landing, it has auctioned the three original videotape recordings depicting the event for $1.82 million in New York. The price is more than 8,000 times the price paid for the tapes by then-NASA intern Gary George at a government surplus auction in 1976. Apollo 11 was the spaceflight that first landed humans on the moon. Equifax Inc. (EFX) announced Monday a comprehensive resolution of significant U.S. consumer-related litigation and regulatory matters facing the company related to its 2017 cybersecurity incident. Equifax has been providing free credit monitoring services to consumers since September 2017. The $671...
Follow RTT