- McCormick press release (NYSE:MKC): Q2 Non-GAAP EPS of $0.48 misses by $0.17.
- Revenue of $1.54B (-1.3% Y/Y) misses by $70M.
- Shares -3.3% PM.
- For FY2022, the company expects to grow sales 3% to 5% Y/Y vs. consensus growth of 4.27%, which in constant currency is expected to be 5% to 7% (previous projection of 3% to 5%, or 4% to 6% in constant currency); Operating income is expected to grow 4% to 6% Y/Y and adjusted operating income is expected to range from comparable to an increase of 2%, which in constant currency is 2% to 4% (previous projection of 7% to 9%, or 8% to 10% in constant currency); Adjusted EPS to be in the range of $3.03 to $3.08, as compared to previously reported guidance of $3.17 to $3.22 and consensus of $3.16.