McCormick & Company, Incorporated (NYSE: MKC) reported third quarter 2023 earnings results today.
Net sales increased 6% year-over-year to $1.68 billion, but narrowly missed estimates of $1.70 billion.
Net income was $170.1 million, or $0.63 per share, compared to $222.9 million, or $0.82 per share, last year. Adjusted EPS was $0.65, in line with expectations.
The company expects sales to grow 5-7% for the full year of 2023. Adjusted EPS for the year is expected to range between $2.62-2.67.
The stock fell over 2% in premarket hours on Tuesday following the announcement.
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