McCormick & Company (NYSE:MKC) shares are trading higher after the company reported its third-quarter results and raised its full-year EPS outlook.
The company registered quarterly adjusted earnings per share of 83 cents, beating the street view of 67 cents. Quarterly sales total $1.679 billion, outpacing the analyst consensus of $1.668 billion. Sales in the third quarter were comparable to the year-ago period, reflecting volume growth of 1%, partially offset by price.
Gross profit margin expanded by 170 basis points compared to the third quarter of last year. This expansion was driven by favorable mix as ...
