McCormick & Co. (MKC) has reported its fourth-quarter earnings, revealing a decline compared to the previous year but surpassing Wall Street's expectations. The company posted earnings of $215.2 million, or $0.80 per share, compared to $219.3 million, or $0.81 per share, in the same period last year. On an adjusted basis, McCormick & Co. recorded earnings of $216.5 million, also translating to $0.80 per share.
Market analysts had forecasted earnings of $0.77 per share, excluding any special items. Meanwhile, the company's revenue experienced a 2.6% increase, rising to $1.798 billion from $1.752 billion in the prior year.
Summary of McCormick & Co.'s financial results (GAAP):
- Earnings: $215.2 million, down from $219.3 million last year.
- Earnings per share (EPS): $0.80, a decrease from $0.81 last year.
- Revenue: $1.798 billion, up from $1.752 billion last year.
