McCormick & Co. Profit Climbs In Q1

(RTTNews) - McCormick & Co. (MKC) revealed earnings for its first quarter that Increases, from last year

The company's bottom line came in at $1.016 billion, or $3.77 per share. This compares with $162.3 million, or $0.60 per share, last year.

Excluding items, McCormick & Co. reported adjusted earnings of $176.9 million or $0.66 per share for the period.

The company's revenue for the period rose 16.7% to $1.873 billion from $1.605 billion last year.

McCormick & Co. earnings at a glance (GAAP) :

-Earnings: $1.016 Bln. vs. $162.3 Mln. last year. -EPS: $3.77 vs. $0.60 last year. -Revenue: $1.873 Bln vs. $1.605 Bln last year.

This surge in the first quarter net earnings reflects a non-cash gain on remeasurement of the company’s previously held equity interest in McCormick de Mexico.