MKC - McCormick: Clawing Its Way Back To Growth

2024-03-26 10:55:09 ET

Summary

• McCormick & Company, Incorporated reported 3% sales growth in Q1, driven by pricing power and despite a decline in volume and mix.
• Consumer sales were up 1% overall, with flat sales in the Americas, a 13% increase in Europe, and a 7% drop in Asia-Pacific.
• The Flavor Solutions segment saw a 4% increase in sales, with growth in all regions except for a small sales hit due to business divestitures.
• Expect a valuation rerating for McCormick & Company stock higher.

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