McCormick & Co. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - McCormick & Co. (MKC) released a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $175.0 million, or $0.65 per share. This compares with $184.2 million, or $0.68 per share, last year.

Excluding items, McCormick & Co. reported adjusted earnings of $184.8 million or $0.69 per share for the period.

Analysts on average had expected the company to earn $0.65 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.0% to $1.659 billion from $1.643 billion last year.

McCormick & Co. earnings at a glance (GAAP) :

-Earnings: $175.0 Mln. vs. $184.2 Mln. last year. -EPS: $0.65 vs. $0.68 last year. -Revenue: $1.659 Bln vs. $1.643 Bln last year.

-Guidance: Full year EPS guidance: $3.03 to $3.08