McCormick & Co. Q3 Profit Increases, Beats Estimates

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

The company's earnings totaled $223.1 million, or $0.83 per share. This compares with $170.1 million, or $0.63 per share, in last year's third quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $224.4 million or $0.83 per share for the period.

Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.3% to $1.679 billion from $1.684 billion last year.

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

-Earnings (Q3): $223.1 Mln. vs. $170.1 Mln. last year. -EPS (Q3): $0.83 vs. $0.63 last year. -Revenue (Q3): $1.679 Bln vs. $1.684 Bln last year.

-Guidance: Full year EPS guidance: $2.85 to $2.90