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McCormick: Fiscal 4Q Earnings Snapshot

January 28, 2020 GMT

HUNT VALLEY, Md. (AP) _ McCormick & Co. (MKC) on Tuesday reported fiscal fourth-quarter earnings of $213.4 million.

The Hunt Valley, Maryland-based company said it had net income of $1.59 per share. Earnings, adjusted for non-recurring costs, came to $1.61 per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.

The spices and seasonings company posted revenue of $1.48 billion in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $1.51 billion.

For the year, the company reported profit of $702.7 million, or $5.24 per share. Revenue was reported as $5.35 billion.

McCormick expects full-year earnings in the range of $5.20 to $5.30 per share.

McCormick shares have increased almost 2% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has increased 42% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MKC at https://www.zacks.com/ap/MKC