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%.
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