McCormick Q2 adjusted EPS $0.69 vs $0.60 YoY; reaffirms FY2024 outlook

MCCORMICK & CO INC

2024-Q2 EPS reported $1.30 revenue$3,245,900,000

EPS $0.68 ($0.69 adjusted) vs $0.56 ($0.60 adjusted) YoY; operating income $234M.
Sales declined 1% to $1.64B; Consumer segment volume growth offset by Flavor Solutions volume decline.
Reaffirmed FY2024 outlook: constant currency sales (1)% to 1% growth, adjusted EPS $2.80-$2.85.
Gross margin expanded 60 bps; CCI cost savings driving profitability.
Announces Investor Day on October 22, 2024 in Hunt Valley, MD.

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