secwatch.observer — SEC 8-K summary
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Issuer:     MCCORMICK & CO INC (MKC)
CIK:        0000063754
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0000063754-24-000024
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

McCormick Q4 adj EPS $0.85 vs $0.73; 2024 adj EPS guided $2.80-2.85
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- Q4 sales +3% (CC +2%) to $1.75B; GAAP EPS $0.81 vs $0.69; adjusted EPS $0.85 vs $0.73.
- FY2023 sales +5% (CC +6%) to $6.66B; GAAP EPS $2.52 flat; adjusted EPS $2.70 vs $2.53.
- Record operating cash flow of $1.2B in FY2023; board authorized 8% dividend increase (38th consecutive year).
- 2024 outlook: sales -2% to 0% (CC -1% to +1%); adjusted EPS $2.80-$2.85 (+4-6%, CC +5-7%).
- Q4 volume down 3% overall; consumer value-seeking pressure cited; management expects volume improvement through 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/63754/000006375424000024/0000063754-24-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/63754/000006375424000024/mkc-20240125.htm
  HTML page:      https://secwatch.observer/filing/0000063754-24-000024

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