McCormick FY22 adjusted EPS falls 17% to $2.53; guides FY23 1-3% growth to $2.56-$2.61

MCCORMICK & CO INC

2022-FY EPS reported $2.52 revenue$6,350,500,000

FY22 sales $6.35B +1% reported (+3% constant currency); adjusted EPS $2.53 vs $3.05 prior.
Q4 sales down 2% reported, +2% constant currency; adjusted EPS $0.73 vs $0.84 prior.
FY23 guid: sales +5-7%, adj op inc +9-11%, adj EPS $2.56-$2.61 (1-3% growth); 8% interest headwind.
Global Operating Effectiveness Program targets $125M annual savings, $75M expected in 2023.
Consumer segment Q4 sales -8% (Americas +6% consumption); Flavor Solutions Q4 sales +9%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MCCORMICK & CO INC reported the fourth quarter and full year for fiscal year 2022, which ended on November 30, 2022 results: EPS Earnings per share was $2.52 as compared to $2.80 in 2021. Adjusted earnings per share was $2.53 as compared to $3.05 in. Guidance initiated.

Period: the fourth quarter and full year for fiscal year 2022, which ended on November 30, 2022
EPS: Earnings per share was $2.52 as compared to $2.80 in 2021. Adjusted earnings per share was $2.53 as compared to $3.05 in
Guidance: initiated
Result: reported results

Exact text from the filing

On January 26, 2023 the Registrant issued a press release and held a conference call with analysts to report on the results of operations for the fourth quarter and full year for fiscal year 2022, which ended on November 30, 2022.

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Source: SEC EDGAR

accession 0000063754-23-000003

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