McCormick & Co. Q4 Profit Decreases, misses estimates

(RTTNews) - McCormick & Co. (MKC) reported earnings for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $185.7 million, or $0.69 per share. This compares with $197.4 million, or $0.73 per share, in last year's fourth quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $196.7 million or $0.73 per share for the period.

Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.7% to $1.70 billion from $1.73 billion last year.

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

-Earnings (Q4): $185.7 Mln. vs. $197.4 Mln. last year. -EPS (Q4): $0.69 vs. $0.73 last year. -Analyst Estimates: $0.86 -Revenue (Q4): $1.70 Bln vs. $1.73 Bln last year.