McCormick & Company, Incorporated (MKC) CEO Lawrence Kurzius on Q3 2020 Results - Earnings Call Transcript

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Q3: 2020-09-29 Earnings Summary

EPS of $0.77 beats by $0.00
 | Revenue of $1.43B (7.61% Y/Y) beats by $27.47M

McCormick & Company, Incorporated (NYSE:MKC) Q3 2020 Earnings Conference Call September 29, 2020 8:00 AM ET

Company Participants

Kasey Jenkins - VP, IR
Lawrence Kurzius - Chairman, President and CEO
Mike Smith - EVP and CFO

Conference Call Participants

Andrew Lazar - Barclays Capital
Ken Goldman - JP Morgan
Alexia Howard - AllianceBernstein
Robert Moskow - Credit Suisse
Chris Growe - Stifel Nicolaus
Adam Samuelson - Goldman Sachs
Peter Galbo - Bank of America Merrill Lynch
David Driscoll - DD Research

Kasey Jenkins

Good morning. This is Kasey Jenkins, Vice President of McCormick Investor Relations. Thank you for joining today's Third Quarter Earnings Call. To accompany this call, we posted a set of slides at ir.mccormick.com.

Currently, all participants are in a listen-only mode. Following our remarks, we will begin a question-and-answer session. [Operator Instructions] We'll begin with remarks from Lawrence Kurzius, Chairman, President, and CEO; and Mike Smith, Executive Vice President and CFO.

During our remarks, we will refer to certain non-GAAP financial measures. These include information in constant currency, as well as adjusted operating income, adjusted income tax rate and adjusted earnings per share that exclude the impact of special charges, and for 2019 the net non-recurring benefit associated with the U.S. Tax Act. Reconciliations to the GAAP results are included in this morning's press release and slides. In our comments, certain percentages are rounded. Please refer to our presentation for complete information.

In addition, as a reminder, today's presentation contains projections and other forward-looking statements. Actual results could differ materially from those projected. The company undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or other factors.

It is important to note, these statements include expectations and assumptions which will be shared related to the impact of the COVID-19

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