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McCormick (MKC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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McCormick (MKC - Free Report) reported $1.68 billion in revenue for the quarter ended August 2024, representing a year-over-year decline of 0.3%. EPS of $0.83 for the same period compares to $0.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.66 billion, representing a surprise of +0.94%. The company delivered an EPS surprise of +22.06%, with the consensus EPS estimate being $0.68.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how McCormick performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Sales- Flavor Solutions: $742.40 million versus $734.15 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
Net Sales- Consumer: $937.40 million compared to the $926.75 million average estimate based on two analysts. The reported number represents a change of 0% year over year.
Operating income excluding special charges and transaction and integration expenses- Flavor Solutions: $101.60 million versus $90.23 million estimated by two analysts on average.
Operating income excluding special charges and transaction and integration expenses- Consumer: $186.80 million versus the two-analyst average estimate of $173.42 million.
Shares of McCormick have returned +2.8% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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McCormick (MKC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
McCormick (MKC - Free Report) reported $1.68 billion in revenue for the quarter ended August 2024, representing a year-over-year decline of 0.3%. EPS of $0.83 for the same period compares to $0.65 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.66 billion, representing a surprise of +0.94%. The company delivered an EPS surprise of +22.06%, with the consensus EPS estimate being $0.68.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how McCormick performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Sales- Flavor Solutions: $742.40 million versus $734.15 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -0.7% change.
- Net Sales- Consumer: $937.40 million compared to the $926.75 million average estimate based on two analysts. The reported number represents a change of 0% year over year.
- Operating income excluding special charges and transaction and integration expenses- Flavor Solutions: $101.60 million versus $90.23 million estimated by two analysts on average.
- Operating income excluding special charges and transaction and integration expenses- Consumer: $186.80 million versus the two-analyst average estimate of $173.42 million.
View all Key Company Metrics for McCormick here>>>Shares of McCormick have returned +2.8% over the past month versus the Zacks S&P 500 composite's +2.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.