MKC - Why Frank's RedHot Sauce Maker McCormick's Stock Is Sliding Today? | Benzinga
McCormick & Company, Incorporated (NYSE: MKC) reported third-quarter FY23 sales growth of 6% year-on-year to $1.684 billion, missing the analyst consensus estimate of $1.70 billion.
Consumer segment sales rose 1% to $937.1 million, and Flavor Solutions Segment increased 11.9% to $747.6 million.
In the Consumer segment, sales growth in the Americas and EMEA regions was partially offset by an unfavorable China impact, the company noted.
Gross profit was $622.8 million, with the margin expanding 150 ...