secwatch.observer — SEC 8-K summary
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Issuer:     MCCORMICK & CO INC (MKC)
CIK:        0000063754
Form:       8-K
Filed at:   2023-01-26T23:59:59+00:00
Accession:  0000063754-23-000003
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/63754/000006375423000003/0000063754-23-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/63754/000006375423000003/mkc-20230126.htm
  HTML page:      https://secwatch.observer/filing/0000063754-23-000003

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