Here's What Key Metrics Tell Us About McCormick (MKC) Q2 Earnings
McCormick (MKC) reported $1.64 billion in revenue for the quarter ended May 2024, representing a year-over-year decline of 1%. EPS of $0.69 for the same period compares to $0.60 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.63 billion, representing a surprise of +1.05%. The company delivered an EPS surprise of +16.95%, with the consensus EPS estimate being $0.59.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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: $738.70 million versus $725.85 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -1.1% change.
Net Sales- Consumer: $904.50 million versus the two-analyst average estimate of $892.37 million. The reported number represents a year-over-year change of -0.8%.
Operating income excluding special charges and transaction and integration expenses- Flavor Solutions: $86.60 million versus $78.38 million estimated by two analysts on average.
Operating income excluding special charges and transaction and integration expenses- Consumer: $149.30 million compared to the $151.21 million average estimate based on two analysts.
View all Key Company Metrics for McCormick here>>>
Shares of McCormick have returned -3.6% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
McCormick & Company, Incorporated (MKC) : Free Stock Analysis Report
