McCormick & Company Reports Significant Sales Growth and Profit Increase in Q1 2024
Tuesday, 26 March 2024, 12:47
Highlights of McCormick & Company's Q1 2024 Earnings Report
McCormick & Company, Incorporated (NYSE: MKC) Thursday reported an increase in sales and adjusted profit for the first quarter of 2024.
Sales Performance:
- The food company's sales increased 3% year-over-year to $1.6 billion
- In constant currency, sales grew by 2%
Operational Figures:
- Operating income reached $234 million in Q1, up from $199 million in the prior year
- Earnings per share advanced to $0.62 from $0.52 in the same period last year
- Adjusted earnings rose to $0.63 per share, a 7% increase annually
Financial Outlook:
- Cash flow from operations amounted to $138 million in Q1, compared to $103 million in Q1 2023
- The company reaffirmed its sales, operating profit, and adjusted earnings per share guidance for fiscal 2024
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.