McCormick & Co. Q3 Profit Drops, Inline With Estimates

(RTTNews) - McCormick & Co. (MKC) revealed a profit for third quarter that decreased from last year in line with the Street estimates.

The company's earnings came in at $170.1 million, or $0.63 per share. This compares with $222.9 million, or $0.82 per share, in last year's third quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $174.9 million or $0.65 per share for the period.

Analysts on average had expected the company to earn $0.65 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.0% to $1.68 billion from $1.60 billion last year.

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

-Earnings (Q3): $170.1 Mln. vs. $222.9 Mln. last year. -EPS (Q3): $0.63 vs. $0.82 last year. -Analyst Estimates: $0.65 -Revenue (Q3): $1.68 Bln vs. $1.60 Bln last year.

-Guidance: Full year EPS guidance: $2.62 to $2.67