McCormick Quarterly Results Strong, Announces Stock Split

McCormick & Co. recorded 8% rise in sales in third quarter from the prior year, according to a
press release. Quarter growth sustained by consumer preferences for home cooking, company’s
brand marketing, new products, and robust digital connections.

• McCormick will continue to drive growth and position itself to meet demand for flavor
• globally
• ● Company capitalizing on growing consumer interests in healthy, flavorful cooking,
• digital engagement, and heritage brands,
• ● Company’s financial outlook reflects robust business performance driven by expected
• sales growth of 4% to 5% range and in constant currency, 5% to 6%
• ● Operating income is $ 273 million, up from $254 million last year, while adjusted
• operating income is $ 273 million, up from $ 261 million.
• ● Earnings per share (EPS) is $ 1.53, up from $ 1.43 last year, while adjusted EPS is $ 1.53,
• up from $ 1.46
• ● Board of directors approved a 2-for-1 stock split of common and common non-voting
• shares, record date November 20, 2020.
• ● Lower demand in restaurant and foodservice customers improved from the second
• quarter and almost offset by rising sales in packaged food companies.

McCormick stock responds negatively to stock split announcement. MKC: NYSE is down
5.62%.