McCormick & Co. Q1 Profit Decreases, Misses Estimates

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

The company's bottom line totaled $162.3 million, or $0.60 per share. This compares with $166.0 million, or $0.62 per share, last year.

Excluding items, McCormick & Co. reported adjusted earnings of $162.3 million or $0.60 per share for the period.

Analysts on average had expected the company to earn $0.64 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 0.2% to $1.605 billion from $1.602 billion last year.

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

-Earnings: $162.3 Mln. vs. $166.0 Mln. last year. -EPS: $0.60 vs. $0.62 last year. -Revenue: $1.605 Bln vs. $1.602 Bln last year.

-Guidance: Full year EPS guidance: $3.03 to $3.08