McCormick & Co. Q1 Profit Increases, beats estimates

(RTTNews) - McCormick & Co. (MKC) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $166.0 million, or $0.62 per share. This compares with $139.1 million, or $0.52 per share, in last year's first quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $169.1 million or $0.63 per share for the period.

Analysts on average had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.9% to $1.60 billion from $1.57 billion last year.

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

-Earnings (Q1): $166.0 Mln. vs. $139.1 Mln. last year. -EPS (Q1): $0.62 vs. $0.52 last year. -Revenue (Q1): $1.60 Bln vs. $1.57 Bln last year.

-Guidance: Full year EPS guidance: $2.80 to $2.85