McCormick & Company (MKC), a spice manufacturer, reported pre-market Thursday fiscal Q3 adjusted earnings of $1.28 per share, up from $1.12 in the same period a year ago and topping the estimate of $1.27 from analysts polled by CapIQ.
For the quarter ended Aug. 31 total revenue of $1.35 billion was up from $1.19 billion in the same period a year ago and came in just shy of the Street projection of $1.36 billion.
McCormick increased full year adjusted EPS guidance to a range of $4.95 to $5.00 from previous guidance of $4.85 to $4.95. The new guidance is above the Street projection of $4.92. The company lowered full year sales guidance to expect 12% to 14% growth over 2017 revenue of $4.83 billion, revised from previous guidance of 13% to 15%.The new guidance implies an expectation of $5.41 billion to $5.51 billion, straddling the Street estimate of $5.47 billion.
The company maintained its quarterly dividend of $0.52 per share.
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