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McCormick (MKC) Q4 Earnings & Sales Surge 21% Year Over Year
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McCormick & Company, Incorporated (MKC - Free Report) came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings of $1.54 per share came ahead of the Zacks Consensus Estimate of $1.52 and surged 21.3% year-over-year.
The company expects adjusted earnings for fiscal 2018 in a range of $4.80-4.90 per share, reflecting a 13-15% growth year-over-year. This includes an expected positive impact of nearly one percentage point from currency fluctuations.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has trended upward over the past 30 days. Further, if we look at McCormick’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of about 4%.
McCormick & Company, Incorporated Price and EPS Surprise
Revenues: McCormick generated net sales of approximately $1,491 million that advanced 21.5% year over year and also topped the Zacks Consensus Estimate of $1,476 million. On a currency-neutral basis, sales jumped 20%, gaining from strength across both segments.
The company expects fiscal 2018 sales to advance nearly 12%-14%, including a one percentage point positive impact from currency movements.
Key Events: In November 2017, McCormick announced an 11% hike in quarterly dividend.
Check back later for our full write up on McCormick’s earnings report!
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McCormick (MKC) Q4 Earnings & Sales Surge 21% Year Over Year
McCormick & Company, Incorporated (MKC - Free Report) came out with fourth-quarter fiscal 2017 results, wherein adjusted earnings of $1.54 per share came ahead of the Zacks Consensus Estimate of $1.52 and surged 21.3% year-over-year.
The company expects adjusted earnings for fiscal 2018 in a range of $4.80-4.90 per share, reflecting a 13-15% growth year-over-year. This includes an expected positive impact of nearly one percentage point from currency fluctuations.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has trended upward over the past 30 days. Further, if we look at McCormick’s performance in the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of about 4%.
McCormick & Company, Incorporated Price and EPS Surprise
McCormick & Company, Incorporated Price and EPS Surprise | McCormick & Company, Incorporated Quote
Revenues: McCormick generated net sales of approximately $1,491 million that advanced 21.5% year over year and also topped the Zacks Consensus Estimate of $1,476 million. On a currency-neutral basis, sales jumped 20%, gaining from strength across both segments.
The company expects fiscal 2018 sales to advance nearly 12%-14%, including a one percentage point positive impact from currency movements.
Key Events: In November 2017, McCormick announced an 11% hike in quarterly dividend.
Zacks Rank: Currently, McCormick carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results. You can see the complete list of today’s Zacks #1 Rank stocks here.
Check back later for our full write up on McCormick’s earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>