McCormick's (NYSE: MKC) latest earnings report contained plenty of good news for investors. The spice and flavorings giant said that its supply chain is intact, and the company stands ready to meet a sustained demand boost for at-home cooking supplies across its global sales footprint.
On the other hand, COVID-19 containment measures in China clearly hurt the business in the fiscal first quarter and will continue pressuring revenue and profits through the full year. In a conference call with investors, CEO Lawrence Kurzius and his team explained why their experience in China wouldn't help in projecting sales trends for other affected countries. Management is still anticipating a volatile period ahead.
Let's take a closer look at management's comments.