McCormick (NYSE: MKC ) is expected to report Q3 earnings around Sep. 26. Here's what Wall Street wants to see:
The 10-second takeaway
Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict McCormick's revenues will grow 7.6% and EPS will grow 10.1%.
The average estimate for revenue is $990.5 million. On the bottom line, the average EPS estimate is $0.76.
Last quarter, McCormick logged revenue of $984.0 million. GAAP reported sales were 11% higher than the prior-year quarter's $883.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Last quarter, EPS came in at $0.60. GAAP EPS of $0.60 for Q2 were 9.1% higher than the prior-year quarter's $0.55 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the preceding quarter, gross margin was 39.5%, 20 basis points worse than the prior-year quarter. Operating margin was 12.3%, 10 basis points worse than the prior-year quarter. Net margin was 8.2%, 10 basis points worse than the prior-year quarter.
The full year's average estimate for revenue is $4.05 billion. The average EPS estimate is $3.05.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 378 members out of 393 rating the stock outperform, and 15 members rating it underperform. Among 137 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 133 give McCormick a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on McCormick is outperform, with an average price target of $58.42.
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