logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Toyota Motor Corp. has invested $394 million in U.S. electric air-taxi startup Joby Aviation as lead investor in the recent $590 million Series C financing. Toyota said it is continuing to leverage emerging technologies to provide "Mobility for All" as the lead investor as part of its transformation into a mobility company. As the world is facing severe consequences of increasing carbon emissions, Microsoft has announced various plans to tackle the issue. The company aims to reduce its own carbon emissions by more than half, and to be carbon negative by 2030. This means the company will remove more carbon than it emits each year. The company further announced a new $1 billion Climate Innovation Fund. With a view to expanding its presence in France, where it has been doing business for more than 100 years, Food and beverage giant Coca-Cola Co. (KO), during the Choose France Summit, announced 1 billion euros of investments in the country over the next five years. Coca-Cola Chairman and CEO James Quincey and President Emmanuel Macron is scheduled to elaborate on the plans in September.
Follow RTT
>