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McCormick Stock Dips Despite Earnings Beat as Guidance Cut Weighs
McCormick Stock Dips Despite Earnings Beat as Guidance Cut Weighs
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BTCCSquare news:
McCormick & Company's Q3 earnings outperformed analyst expectations, with adjusted EPS of $0.85 beating estimates by $0.04 and revenue reaching $1.72 billion against a $1.71 billion forecast. The spices giant reported 3% YoY sales growth, fueled by a 4% consumer segment increase and favorable currency impacts.
Despite these results, shares slipped 0.04% in pre-market trading following a 0.9% decline Monday. The stock has shed 9.36% year-to-date as inflationary pressures and tariff impacts continue squeezing margins. CEO Brendan Foley acknowledged these persistent headwinds as the company reduced full-year adjusted EPS guidance to $3.00-$3.05.
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