McCormick & Co. Q2 Profit Decreases, misses estimates

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

The company's bottom line came in at $118.5 million, or $0.44 per share. This compares with $183.7 million, or $0.68 per share, in last year's second quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $129.6 million or $0.48 per share for the period.

Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.3% to $1.54 billion from $1.56 billion last year.

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

-Earnings (Q2): $118.5 Mln. vs. $183.7 Mln. last year. -EPS (Q2): $0.44 vs. $0.68 last year. -Analyst Estimates: $0.65 -Revenue (Q2): $1.54 Bln vs. $1.56 Bln last year.

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