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McCormick & Co. profit misses consensus by 15.5% in fiscal Q2

McCormick & Company, Inc. said its normalized net income for the fiscal second quarter ended May 31 amounted to 58 cents per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS rose year over year from 55 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $74.2 million, an increase from $72.3 million in the year-earlier period.

The normalized profit margin increased to 7.2% from 7.0% in the year-earlier period.

Total revenue came to $1.02 billion, compared with $1.03 billion in the prior-year period, and total operating expenses decreased from the prior-year period to $900.4 million from $911.7 million.

Reported net income totaled $83.8 million, or 65 cents per share, compared with $84.0 million, or 64 cents per share, in the year-earlier period.