McCormick & Company, Incorporated has cut its full-year outlook due to rising costs and supply chain challenges, following a disappointing second-quarter earnings report. The spice giant posted earnings of $0.48 per share, missing Wall Street's $0.65 expectation, and experienced a 5.6% premarket stock dip as a result. Despite benefitting from increased product demand, sluggish sales in China and other factors have forced analysts to downgrade McCormick to a Zacks Rank #4 (Sell).
“McCormick · cut its full-year outlook · citing higher costs”
“McCormick · delivered · lower-than-expected quarterly results”
“McCormick · delivered · quarterly results · lower-than-expected”
“McCormick & Company, Incorporated · is likely to register · top-line growth · true”
“McCormick · is benefiting from · increased demand for its products · true”
“McCormick · is grappling with · cost inflation · true”
“McCormick · carries a Zacks Rank · #4 (Sell) · true”
“McCormick · delivered · lower-than-expected quarterly results”
“McCormick & Company, Incorporated · The Zacks Consensus Estimate for quarterly revenues is pegged at · $1,617 million · true”
“McCormick & Company, Incorporated · suggests an increase of · 3.9% · true”
“McCormick & Company, Incorporated · is likely to decline · bottom line · true”
“McCormick & Company, Incorporated · The Zacks Consensus Estimate for quarterly earnings has moved down by · a penny to 65 cents per share · true”