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McCormick & Co. fiscal Q3 profit climbs 12.4% YOY


According to Market Intelligence, December 2022


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McCormick & Co. fiscal Q3 profit climbs 12.4% YOY

McCormick & Company, Inc. said its normalized net income for the fiscal third quarter ended Aug. 31 was 94 cents per share, compared with the S&P Capital IQ consensus estimate of $1.05 per share.

EPS climbed 12.5% year over year from 84 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $120.3 million, a gain of 12.4% from $107.0 million in the year-earlier period.

The normalized profit margin climbed to 10.1% from 9.8% in the year-earlier period.

Total revenue increased 8.6% on an annual basis to $1.19 billion from $1.09 billion, and total operating expenses climbed 7.3% on an annual basis to $980.7 million from $914.0 million.

Reported net income declined 15.1% from the prior-year period to $108.6 million, or 85 cents per share, from $127.9 million, or $1 per share.