McCormick & Company, Inc. (NYSE: MKC), a manufacturer and distributor of seasoning mixes and other flavorful products, announced financial results for the second quarter of 2023, reporting higher earnings and revenues.
Second-quarter sales increased 8% year-over-year to $1.66 billion. The Consumer and Flavor Solutions segments grew 5% and 11%, respectively.
Net income increased to $152.1 million or $0.56 per share in Q2 from $118.5 million or $0.44 per share in the corresponding period of 2022. On an adjusted basis, the company reported earnings of $0.60 per share, up 25%.
Looking ahead, the management expects adjusted earnings per share to be in the range of $2.60 to $2.65 in fiscal 2023, higher than the previously reported guidance of $2.56-$2.61 per share.