MKC - McCormick: Spice Up Your Diversification As The Company Returns To Growth
2024-07-01 10:58:07 ET
Summary
- McCormick & Company, Inc. shares hit bottom in 2023 and have since seen a slight run-up, still lagging the market.
- Q2 sales declined 1.2%, driven by pricing power, with consumer sales down 1% overall.
- Operating income and EPS increased in Q2, with a positive outlook for future earnings growth and potential global expansion.
We suggested coming back into McCormick & Company, Incorporated ( MKC ) in October 2023, catching the bottom in shares, and reiterated that call in March 2024 as the company was " crawling its way back to growth ." Make no mistake, shares had long been a reliable investment, but started facing pressure in 2022. Shares have struggled to really get going since then, but there has been a bit of a run-up from the low where we suggested coming back into the stock....
McCormick: Spice Up Your Diversification As The Company Returns To Growth