McCormick & Co. Q4 Profit Decreases, but beats estimates

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

The company's bottom line came in at $197.4 million, or $0.73 per share. This compares with $200.7 million, or $0.74 per share, in last year's fourth quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $227.3 million or $0.84 per share for the period.

Analysts on average had expected the company to earn $0.80 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.6% to $1.73 billion from $1.55 billion last year.

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

-Earnings (Q4): $197.4 Mln. vs. $200.7 Mln. last year. -EPS (Q4): $0.73 vs. $0.74 last year. -Analyst Estimates: $0.80 -Revenue (Q4): $1.73 Bln vs. $1.55 Bln last year.