- McCormick beats Street 2Q forecasts
The Sparks, Maryland-based company said it had profit of 79 cents per share. Earnings, adjusted for non-recurring costs, were 82 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The spices and seasonings company posted revenue of $1.11 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.1 billion.
McCormick expects full-year earnings in the range of $4.05 to $4.13 per share.
McCormick shares have risen 6 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 9 percent. The stock has dropped 3 percent in the last 12 months.
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