McCormick & Co. Reports Strong Q4 Results

1 Mins read


McCormick & Co., a renowned spicemaker based in Hunt Valley, Maryland, has announced its fiscal fourth-quarter results. Despite facing higher prices, the company witnessed a rise in revenue and net income. The demand for McCormick’s seasonings remains robust in both the consumer and food-industry sectors. The company also provided a positive outlook for 2024, predicting significant profit growth.

Financial Performance

In the quarter ending on November 30, McCormick & Co. achieved earnings of $219.3 million, or 81 cents per share. This indicates substantial growth compared to the previous year’s earnings of $185.7 million, or 69 cents per share. After excluding certain one-off items, the company reported adjusted earnings of 85 cents per share, surpassing the average Wall Street estimate of 79 cents per share.

Additionally, the company’s fourth-quarter sales reached $1.75 billion, marking a 3.4% increase. However, this figure fell slightly short of the average analyst target of $1.79 billion, primarily due to lower volumes balancing out the impact of price hikes. The consumer unit reported sales of $1.05 billion, which showed a marginal increase from the previous year.

Promising Forecasts

Looking ahead to the fiscal year ending in November, McCormick & Co. expects earnings between $2.76 and $2.81 per share, reflecting an increase from the current year’s $2.52 per share. Excluding certain charges, the adjusted earnings forecast for 2024 ranges between $2.80 and $2.85 per share, compared to $2.70 per share projected for 2023.

McCormick attributes these optimistic projections to progress in sales volumes and profitability. The company believes it is well-positioned to capitalize on future growth opportunities.


Despite facing higher prices, McCormick & Co. has reported impressive financial results for the fourth quarter. With a strong demand for its seasonings in both consumer and food-industry sectors, the company is confident in projecting profit growth for 2024. McCormick’s continued focus on sales volumes and profitability positions it positively for future success.

Related posts

Elon Musk vs. Sam Altman Legal Battle

2 Mins read
Allegations and Predictions It’s the story of the day — Elon Musk is suing Sam Altman, and OpenAI, for allegedly failing to…

Regional Banks Face Challenges

1 Mins read
New York Community Bancorp Inc. Faces Setback Regional bank stocks took a hit early Friday, with New York Community Bancorp Inc. (NYCB)…

CG's Semiconductor Manufacturing Venture in India

1 Mins read
Positive News CG Power & Industrial Solutions saw a significant increase in shares following the announcement of their partnership to construct and…

Leave a Reply

Your email address will not be published. Required fields are marked *