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McCormick Boosts FY19 Adjusted Earnings Outlook - Quick Facts

While reporting financial results for the second quarter of fiscal 2019 on Thursday, McCormick & Co., Inc. (MKC) boosted its adjusted earnings per share outlook, but reaffirmed sales guidance for the full year 2019.

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 now expects to adjusted earnings in a range of $5.20 to $5.30 per share on sales growth of 1 to 3 percent, which in constant currency is a 3 to 5 percent projected growth rate.

Previously, the company projected 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 $5.26 per share on sales growth of 0.3 percent to $5.42 billion for the year. Analysts' estimates typically exclude special items.

The company said it expects to deliver another strong year while continuing to make targeted investments and fuel its growth to build the McCormick of the future.

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