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Showing posts with label MKC. Show all posts
Showing posts with label MKC. Show all posts

Tuesday, March 28, 2023

McCormick (MKC) reported earnings on Tue 28 Mar 23 (BMO)

  • Fri 3/24: #4, 5; vol. 1.2M



 



 
McCormick beats by $0.09, beats on revs; reaffirms FY23 EPS guidance, revs guidance 
  • Reports Q1 (Feb) earnings of $0.59 per share, excluding non-recurring items, $0.09 better than the S&P Capital IQ Consensus of $0.50; revenues rose 2.8% year/year to $1.57 bln vs the $1.54 bln S&P Capital IQ Consensus.
  • Co reaffirms guidance for FY23, sees EPS of $2.56-2.61, excluding non-recurring items, vs. $2.57 S&P Capital IQ Consensus; sees FY23 revs of +5-7% yr/yr to ~$6.67-6.80 bln vs. $6.69 bln S&P Capital IQ Consensus.

Monday, March 27, 2023

Earnings this week : March 27- 30, 23 (wk 13)

Monday (Mar 27)
  • Morning:  BNTX CCL
  • Afternoon: PVH
Tuesday (Mar 28)
  • Morning: CNM IHS LOVE MKC SNX WBA
  • Afternoon:  CALM PLAY JEF LULU MU NCNO PRGS
Wednesday (Mar 29)
  • Morning:  BLUE CTAS CONN KC PAYX SHCR UNF
  • Afternoon:  CNXC FUL RH SMTC CXM VRNT
Thursday (Mar 30)
  • Morning: ANGO EVGO NEOG
  • Afternoon:  BB BRZE YMAB

Thursday, January 24, 2019

McCormick (MKC) reported earnings on Thur 24 Jan 19 (BMO)

** charts before earnings **






** charts after earnings **








McCormick misses by $0.03, misses on revs; guides FY19 EPS below consensus, revs below consensus 
  • Reports Q4 (Nov) earnings of $1.67 per share, excluding non-recurring items, $0.03 worse than the S&P Capital IQ Consensus of $1.70; revenues rose 0.6% year/year to $1.5 bln vs the $1.55 bln S&P Capital IQ Consensus.
  • Co issues downside guidance for FY19, sees EPS of $5.17-5.27, excluding non-recurring items, vs. $5.40 S&P Capital IQ Consensus; sees FY19 revs of +1-3% to ~$5.46-5.57 bln vs. $5.64 bln S&P Capital IQ Consensus.
  • McCormick expects continued global growth in consumer demand for great taste and healthy eating. McCormick is aligned with consumers' increased interest in bolder flavors, demand for convenience and focus on fresh, natural ingredients as well as greater transparency around the sourcing and quality of food. Through its growth strategies, the company is well-positioned to meet this increased consumer demand and drive sales of its broad flavor portfolio through brand marketing, new products and expanded distribution.

Monday, January 21, 2019

Earnings this week : Jan 21 - 25, 19 (wk 4)

Earnings confirmed to report this week:

Monday (Jan 21)    
  • Market closed for Martin Luther King Jr. Day

Tuesday (Jan 22)
  • Morning: ATI FITB GATX HAL HMST JNJ LOGI EDU PETS PLD SWK TRV
  • Afternoon: AMTD CNMD COF FMBI HOPE IBKR IBM LRN LTXB NAVI RNST SFNC TBK UCBI WTFC ZION

Wednesday (Jan 23)
  • Morning:  ABT APH ASML BKU BPOP CBU CMCSA HZO KMB NTRS PG PGR RES ROL SYF TDY TEL UTX WAT
  • Afternoon:  ADTN AZPN BGG BXS CATY CCI CMRE CNS CP CTXS CVBF F FFBC FFIV HXL LRCX  LVS NXGN PTC RJF SLG SLM STL TCBI TER TRMK TXN UMPQ URI VAR XLNX

Thursday (Jan 24)
  • Morning:  AAL AEP AIT AVX BANC BMY COLB DLX EWBC FCX GWW HBAN ISCA JBLU LUV MKC MMYT ORI RCI STM TAL TXT UNP VIVO WBS
  • Afternoon: ALK ASB AVT CUBI DFS  ETFC FHB FII HTH INTC ISRG NBHC NSC OSIS RMD SBCF SBUX SIVB WAL WDC

Friday (Jan 25)
  • Morning: ABBV ABCB APD CL DHI ERIC HRC IBKC LEA MOG.A NEE

Thursday, January 25, 2018

McCormick (MKC) reported earnings on Thur 25 Jan 18 (BMO)






McCormick beats by $0.02, reports revs in-line; guides FY18 EPS, revs above consensus 
  • Reports Q4 (Nov) earnings of $1.54 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.52; revenues rose 21.5% year/year to $1.49 bln vs the $1.48 bln Capital IQ Consensus.
  • Gross profit margin increased 80 basis points versus the year-ago period. This expansion was driven by our shift in the portfolio to more value-added products and CCI-led cost savings, partially offset by the RB Food's transaction expenses related to the acquisition-date fair value adjustment of inventories.
  • Co issues upside guidance for FY18, sees EPS of $4.80-4.90, excluding non-recurring items, vs. $4.71 Capital IQ Consensus Estimate; sees FY18 revs of $5.41-5.51 bln (+12-14%) vs. $5.4 bln Capital IQ Consensus Estimate. 

Wednesday, July 19, 2017

McCormick (MKC) acquires Reckitt Benckiser's (RBGLY) Food Division for $4.2 bln

  • McCormick is buying Reckitt Bensicker’s condiments unit.
  • Reckitt Benckiser, a consumer conglomerate that also makes products such as Veet hair remover, Air Wick air fresheners, Lysol cleaner and Durex condoms, made a $17.9 billion deal in February to buy baby-food maker Mead Johnson Nutrition Co.
  • McCormick attempted to buy the British food company Premier Foods plc early last year for $700 million but the deal was rejected.
 

  


McCormick acquires Reckitt Benckiser's (RBGLY) Food Division for $4.2 bln :
McCormick & Company (MKC) announced that it has signed a definitive agreement to acquire Reckitt Benckiser's (RBGLY) Food Division from Reckitt Benckiser Group plc for $4.2 billion, subject to certain customary purchase price adjustments.
  • Addition of Frank's RedHot Hot Sauce, French's Mustard and other iconic, market-leading products strengthens McCormick's leadership in the attractive Condiments category and advances the Company's vision to Bring the Joy of Flavor to Life
  • McCormick to advance from current position of #10 to a leading position in U.S. Condiments category 
  • Combined pro forma 2017 annual net sales are expected to be ~$5 billion with significant margin accretion
  • McCormick will integrate RB Foods into its Consumer and Industrial segments and will retain the brand names of French's, Frank's RedHot and Cattlemen's
  • The transaction is expected to be completed in the third or fourth quarter of McCormick's fiscal 2017

Thursday, June 29, 2017

McCormick (MKC) reported earnings on Thur 29 June 2017 (b/o)

** charts after earnings **


  



  • McCormick beats Street 2Q forecasts
SPARKS, Md. (AP) _ McCormick & Co. (MKC) on Thursday reported fiscal second-quarter earnings of $100 million.

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.

Tuesday, March 28, 2017

McCormick (MKC) reported earnings on Tue 28 March 2017 (b/o)

** charts after earnings **




  




McCormick beats by $0.02, reports revs in-line; gues Q2 EPS light; reaffirms FY17 guidance :
  • Reports Q1 (Feb) earnings of $0.76 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $0.74; revenues rose 1.3% year/year to $1.04 bln vs the $1.05 bln Capital IQ Consensus. McCormick increased gross profit margin to 39.6% from 39.3% in the first quarter of 2016.
  • Sees Q2 adj. EPS comparable to $0.75 (last year) vs. $0.82 consensus.
  • Co reaffirms guidance for FY17, sees EPS of $4.05-4.13, excluding non-recurring items, vs. $4.08 Capital IQ Consensus Estimate; sees FY17 revs of 3-5% growth to $4.54-4.63 bln vs. $4.56 bln Capital IQ Consensus Estimate.
  • Guidance Details: The company expects to drive sales with brand marketing, new products, expanded distribution and the incremental sales impact of acquisitions completed in fiscal year 2016 and from Giotti, acquired in December 2016. Sales are also expected to be driven by pricing actions that are intended to offset an anticipated mid-single digit increase in material costs. Operating income in 2017 is expected to grow 9% to 11% from $641 million of operating income in 2016. The company has organization and streamlining actions underway and has increased its 2017 projection of related special charges to approximately $11 million from $4 million.

Wednesday, January 25, 2017

McCormick (MKC) reported earnings on Wed 25 Jan 2017 (b/o)

** charts before earnings **






** charts after earnings **





  




 McCormick misses by $0.01, reports revs in-line; guides FY17 EPS above consensus, revs above consensus :
  • Reports Q4 (Nov) earnings of $1.27 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $1.28; revenues rose 2.1% year/year to $1.23 bln vs the $1.23 bln Capital IQ Consensus.
  • Co issues upside guidance for FY17, sees EPS of $4.05-4.13, excluding non-recurring items, vs. $4.05 Capital IQ Consensus Estimate; sees FY17 revs of 3-5% growth to $4.54-4.63 bln vs. $4.56 bln Capital IQ Consensus Estimate.
  • The company expects to drive sales with brand marketing, new products, expanded distribution and the incremental sales impact of acquisitions completed in fiscal year 2016 and from Giotti, acquired in December 2016. Sales are also expected to be driven by pricing actions that are intended to offset an anticipated mid-single digit increase in material costs. The company has plans to achieve approximately $100 million of cost savings and intends to use these savings to improve margins, fund a mid-single digit increase in brand marketing, and as a further offset to increased material costs.

Tuesday, March 29, 2016

Thursday, December 24, 2015

Monday, July 6, 2015