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McCormick -2.5% after Q3 sales come in flat

  • McCormick (MKC -2.5%) slips after announcing its FQ3 earnings were unchanged Y/Y, but the spice maker sees full-year EPS at the lower end of its prior outlook for $3.13-$3.19.
  • MKC says weak demand for industrial products by quick service restaurant customers in the Americas has limited YTD sales and is expected to hurt Q4 results.
  • Sales rose 4% Q/Q to $1.02B, but much of the increase came from sales from its newly acquired Wuhan Asia Pacific Condiments business and from retailers pushing ~$30M in purchases they normally would make in Q4 into Q3 in advance of an upcoming price increase.
Comments (2)
  • Garthilk
    , contributor
    Comments (588) | Send Message
     
    He who controls the Spice, controls the universe!
    26 Sep 2013, 06:29 PM Reply Like
  • CassandraSees
    , contributor
    Comments (293) | Send Message
     
    The Worm knows that the market goes up and down - - He cares not for the minor fluctuations but just moves steadily forward knowing that people like their food to taste good and need Spice for that reason
    27 Sep 2013, 09:09 AM Reply Like
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