McCormick & Co. Q3 Profit Increases, but misses estimates

(RTTNews) - McCormick & Co. (MKC) reported a profit for its third quarter that increased from last year but missed the Street estimates.

The company's earnings totaled $222.9 million, or $0.82 per share. This compares with $212.4 million, or $0.79 per share, in last year's third quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $187.6 million or $0.69 per share for the period.

Analysts on average had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.2% to $1.60 billion from $1.55 billion last year.

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

-Earnings (Q3): $222.9 Mln. vs. $212.4 Mln. last year. -EPS (Q3): $0.82 vs. $0.79 last year. -Analyst Estimate: $0.93 -Revenue (Q3): $1.60 Bln vs. $1.55 Bln last year.

-Guidance: Full year EPS guidance: $2.63 to $2.68