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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • McCormick Sales And Earnings Rise 0 comments
    Mar 25, 2014 11:13 AM | about stocks: MKC

    Originally published at www.seclive.com

    McCormick & Company, Incorporated (NYSE:MKC) announced its financial results for the first fiscal quarter 2014, reporting sales and earnings that increased from the year-ago quarter. The global leader in flavor products posted a 6% sales increase, with 4% of the growth fueled by its acquisition of WAPC in May. Thanks to cost-savings initiatives, the company's gross margin improved from 38.7% to 39.4% with operating income rising 11% to $125M, while earning per share climbed 9% from $0.57 to $0.62 per share. The company reaffirmed its annual guidance, maintaining its earnings per share target between $3.22 and $3.29. Chairman, President, and CEO Alan Wilson commented that the quarter was a great start to the year and that McCormick will continue to focus on solid performance and growth that will lend itself to further future success.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: financial results, earnings Stocks: MKC
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