McCormick Reaffirms FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the first quarter of fiscal 2019 on Tuesday, McCormick & Co., Inc. (MKC) reaffirmed its earnings per share and sales outlook for the full year.

The company said it expects another year of strong performance driven by its broad and advantaged flavor portfolio, effective growth strategies and focus on profit realization.

For fiscal 2019, the company continues to project earnings in the range of $5.09 to $5.19 per share and adjusted earnings in the range of $5.17 to $5.27 per share on sales growth of 1 to 3 percent, which in constant currency is a 3 to 5 percent projected growth rate.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.22 per share on sales growth of 1.7 percent to $5.50 billion for the year. Analysts' estimates typically exclude special items.

The company also projects another year of strong cash flow, with plans to return a significant portion to McCormick's shareholders through dividends and to pay down debt.