McCormick Q2 adj EPS $0.60 (+25% YoY); raises FY2023 profit outlook

MCCORMICK & CO INC

2023-Q2 EPS reported $1.08 revenue$3,224,700,000

Sales +8% ($912M Consumer, $747M Flavor Solutions); constant currency +10%.
Adjusted operating income $235M (+35%); gross margin expanded 310 bps.
FY2023 adjusted EPS outlook raised to $2.60-$2.65 from $2.56-$2.61; adj OP income growth now 10-12% (from 9-11%).
Consumer segment sales +5% (+7% CC); Flavor Solutions +12% (+13% CC).
Operating cash flow $394M YTD vs $154M prior year; strong profit and working capital improvements.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.93

MCCORMICK & CO INC reported the second quarter ended May 31, 2023 results: EPS $0.56. Guidance raised.

Period: the second quarter ended May 31, 2023
EPS: $0.56
Guidance: raised
Result: reported results

Exact text from the filing

On June 29, 2023 the Registrant issued a press release and held a conference call with analysts to report on the results of operations for the second quarter for fiscal year 2023, which ended May 31, 2023.

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Source: SEC EDGAR

accession 0000063754-23-000029

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