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McCormick Q3 Income Flat, Outlook Downbeat

By Warren Paige

McCormick & Co (NYSE: MKC) said on Thursday that fiscal third quarter profit remained flat as margins remained even, offsetting slight improvement in sales. Shares fell as the company provided downbeat outlook for full-year earnings. The Company expects earnings to be at lower end of its previous guidance. The Company said that weak demand for its industrial products from quick service restaurant segment will impact fiscal fourth quarter results. McCormick now expects adjusted earnings and sales to both grow by 7% while analysts’ polled by Thomson Reuters were anticipating 10% and 6% growth, respectively.

September 26th, 2013 | Tags: | Category: Large Cap Growth Stocks

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.