McCormick Q3 rev $1.68B (+6%), adj. EPS $0.65 (vs $0.69); FY adj. EPS guide raised to $2.62-2.67

MCCORMICK & CO INC

2023-Q3 EPS reported $1.71 revenue$4,909,400,000

Net sales $1.685B (+6% vs prior year); Flavor Solutions up 12%, Consumer up 1%.
GAAP EPS $0.63 vs $0.82; adjusted EPS $0.65 vs $0.69, decline driven by lapping debt optimization and higher interest.
FY 2023 adjusted EPS guidance raised to $2.62-2.67 from $2.60-2.65, reflecting stronger JV contribution.
Cash from operations YTD $660M vs $250M; inventory improvements cited.
Flavor Solutions operating income up 42% to $77.8M; Consumer segment op income down 6% to $173.3M.

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