** charts before earnings **
** charts after earnings **
McCormick misses by $0.03, misses on revs; guides FY19 EPS below consensus, revs below consensus
- Reports Q4 (Nov) earnings of $1.67 per share, excluding non-recurring items, $0.03 worse than the S&P Capital IQ Consensus of $1.70; revenues rose 0.6% year/year to $1.5 bln vs the $1.55 bln S&P Capital IQ Consensus.
- Co issues downside guidance for FY19, sees EPS of $5.17-5.27, excluding non-recurring items, vs. $5.40 S&P Capital IQ Consensus; sees FY19 revs of +1-3% to ~$5.46-5.57 bln vs. $5.64 bln S&P Capital IQ Consensus.
- McCormick expects continued global growth in consumer demand for great taste and healthy eating. McCormick is aligned with consumers' increased interest in bolder flavors, demand for convenience and focus on fresh, natural ingredients as well as greater transparency around the sourcing and quality of food. Through its growth strategies, the company is well-positioned to meet this increased consumer demand and drive sales of its broad flavor portfolio through brand marketing, new products and expanded distribution.
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