McCormick & Company (NYSE:MKC) released Q2 2005 earnings for the period ended May 31, on June 30.

  • Full-year earnings guidance was reduced to $1.66-$1.70 from the previous range of $1.70-$1.74.

Income Statement Highlights

Avg. Est. Q2 2005 Q2 2004 % Change
Sales $628,710 $628,571 $596,164 +5.4%
Net Profit -- $42,794 $42,853 -0.1%
EPS $0.30 $0.31 $0.30 +3.3%
Figures in thousands, except per-share data

Balance Sheet Highlights

Assets Q2 2005 Q2 2004 % Change
Cash+ ST Invest. $20,096 $16,125 +24.6%
Inventory $345,281 $373,974 -7.7%
Accounts Rec. $328,117 $309,700 +5.9%


Figures in thousands

Liabilities Q2 2005 Q2 2004 % Change
Long-Term Debt $271,202 $495,884 -45.3%
Accounts Pay. $167,816 $166,188 +1.0%


Figures in thousands

Margin Checkup

Q2 2005 Q2 2004 Change
Gross Margin 38.40% 38.90% -0.51%
Op. Margin 11.32% 11.70% -0.38%
Net Margin 6.81% 7.19% -0.38%


Cash Flow Highlights

Q2 2005 Q2 2004 % Change
Cash From Ops $66,580 $79,533 -16.3%
Capital Expend. $30,316 $27,654 +9.6%
Free Cash Flow $36,264 $51,879 -30.1%


Related companies:

  • Alberto-Culver (NYSE:ACV)
  • International Flavors (NYSE:IFF)
  • Kraft Foods (NYSE:KFT)
  • ConAgra (NYSE:CAG)

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At the time of publication, Seth Jayson had positions in no companies mentioned. Fool rules are here.