Food flavoring company McCormick (NYSE: MKC) will be reporting earnings tomorrow morning. Here’s what to look for.
McCormick beat analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $1.8 billion, up 2.6% year on year. It was a mixed quarter for the company, with a decent beat of analysts’ EPS estimates but a slight miss of analysts’ EBITDA estimates.
Is McCormick a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting McCormick’s revenue to be flat year on year at $1.62 billion, slowing from the 2.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.64 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. McCormick has missed Wall Street’s revenue estimates three times over the last two years.
Looking at McCormick’s peers in the consumer staples segment, only General Mills has reported results so far. It missed analysts’ revenue estimates by 2.4%, posting year-on-year sales declines of 5%. The stock was down 3.6% on the results.
Read our full analysis of General Mills’s earnings results here.Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
