- McCormick (NYSE:NYSE:MKC) reports sales rose 6% on a constant currency basis in FQ2.
- Acquisition contributed 3 percentage point of growth in the quarter.
- Segment revenue: Consumer: $641.8M (+7%, +8% on a constant currency basis); Industrial: $421.5M (-0.7%, +3% on a constant currency basis).
- Gross profit rate grew 130 bps to 40.7%.
- Segment operating income: Consumer: $86.4M (+7%); Industrial: $42.5M (+1%).
- Adjusted operating margin rate expanded 10 bps to 12.1%.
- Income from unconsolidated operations increased 22.5% to $112M.
- FY2016 Guidance: Sales: +1% to +3% (+4% to 6% in constant currency); Operating income: +16% to +19%; Adjusted operating income:+6% to +8%; Diluted EPS: $3.63 to $3.70; Adjusted diluted EPS: $3.68 to $3.75.
- MKC +2.23% premarket.
More on McCormick's FQ2
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About MKC Stock
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Symbol | Last Price | % Chg |
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MKC | - | - |
McCormick & Company, Incorporated |