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McCormick & Company (MKC): Q1 2020 Earnings Snapshot

By Staff Correspondent |
Earnings Update by AlphaStreet

— McCormick & Company Incorporated (NYSE: MKC) reported Q1 2020 earnings of $1.08 per share, vs. $1.03 expected.

— Sales fell 2% to $1.21 billion, vs. $1.23 billion expected.

— Consumer segment sales dropped 6% year-over-year to $699.5 million.

— Flavor Solutions segment sales grew 5% to $512.5 million.

— McCormick withdrew its FY2020 guidance due to the COVID-19 outbreak. The company expects to resume its guidance at the time of its Q2 results in June.

— MKC shares were up slightly in premarket hours on Tuesday.

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