secwatch.observer — SEC 8-K summary
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Issuer:     MCCORMICK & CO INC (MKC)
CIK:        0000063754
Form:       8-K
Filed at:   2022-09-07T23:59:59+00:00
Accession:  0001628280-22-024523
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

McCormick lowers FY2022 outlook; Q3 adj. EPS $0.65 vs $0.80 prior year
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- Preliminary Q3 sales +3% (constant currency +6%); operating income ~$223M vs $265M.
- Adjusted EPS expected $0.65, down from $0.80; GAAP EPS $0.79 vs $0.80.
- FY2022 guidance cut: adjusted EPS now $2.63-$2.68 (prior $3.03-$3.08); adj. operating income decline 13%-11%.
- Sales growth forecast lowered to 0%-2% (constant currency 3%-5%) from prior 3%-5% (5%-7% constant currency).
- Cites earlier-than-expected consumption moderation, slower supply chain recovery, and currency headwinds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/63754/000162828022024523/0001628280-22-024523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/63754/000162828022024523/mkc-20220907.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-024523

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