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Stock Market & Financial Investment News

News Breaks
March 25, 2014
06:33 EDTMKCMcCormick reports Q1 EPS 62c, consensus 58c
Reports Q1 revenue $993.4M, consensus $973.2M. McCormick's Q1 sales rose 6% from the year-ago period and in local currency the increase was 8%. The acquisition of WAPC, completed in May 2013, contributed 4% to this growth rate. Pricing actions and higher volume and product mix, largely accounted for the other half of this sales increase. The company grew sales in both its consumer and industrial businesses through product innovation, brand building and expanded distribution. In Q1, the rate of sales increase in international markets was particularly strong. Cost savings from the company's CCI program, as well as a favorable mix of business, improved gross profit margin, which rose to 39.4% from 38.7% in the year-ago period. The company increased operating income 11% to $125Min the Q1. Higher sales and improved gross profit margin more than offset a $7M increase in brand marketing this period. EPS rose 9% in Q1, with the strong increase in operating income, offset in part by the unfavorable impact of a higher tax rate. Net cash provided by operating activities rose $45M from the year-ago period, primarily as a result of lower retirement plan contributions.
News For MKC From The Last 14 Days
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July 1, 2015
12:45 EDTMKCMcCormick sees double digit decline in Q3 adjusted EPS vs. last year
Sees Q4 adjusted EPS increasing vs. $1.16 a year ago. Comments made earlier on the company's Q2 earnings conference call.
09:35 EDTMKCMcCormick falls after earnings and guidance, levels to watch
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09:28 EDTMKCOn The Fly: Pre-market Movers
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06:36 EDTMKCMcCormick raises FY15 adjusted EPS view to $3.47-$3.54, consensus $3.50
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06:36 EDTMKCMcCormick sees Q3 adjusted EPS down vs. last year
In Q3, the company expects adjusted EPS to decline from the year-ago period as the result of the projected tax rate, unfavorable currency rates and higher investment in brand marketing. Another year of strong cash flow is anticipated in 2015, with a portion returned to McCormick's shareholders through dividends and share repurchases.
06:32 EDTMKCMcCormick reports Q2 adjusted EPS 75c, consensus 68c
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June 30, 2015
15:26 EDTMKCNotable companies reporting before tomorrow's open
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14:08 EDTMKCMcCormick July volatility increases into Q2 and outlook
McCormick July call option implied volatility is 18, August is at 17, September is at 16; compared to its 52-week range of 12-23 into the expected release of Q2 results on July 1.
June 24, 2015
10:00 EDTMKCOn The Fly: Analyst Upgrade Summary
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07:04 EDTMKCMcCormick upgraded to Outperform from Market Perform at Bernstein
06:33 EDTMKCMcCormick to acquire Stubb's barbeque sauces for about $100M in cash
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