McCormick & Company Inc. First Quarter Earnings Sneak Peek

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S&P 500 (NYSE:SPY) component McCormick & Company, Inc. (NYSE:MKC) will unveil its latest earnings on Tuesday, March 27, 2012. McCormick & Company manufactures flavor products including spices, herbs, extracts, seasonings, flavorings, and other food products.

McCormick & Company, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst estimate is for profit of 53 cents per share, a decline of 7% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 61 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 53 cents during the last month. Analysts are projecting profit to rise by 7% compared to last year’s $3.04.

Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 6 cents, reporting net income of $1.03 per share against a mean estimate of profit of 97 cents per share.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 11.1% in revenue from the year-earlier quarter to $869.8 million.

Analyst Ratings: Analysts are bullish on this stock, with nine analysts rating it as a buy, none rating it as a sell and five rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, profit fell 1.4% to $131.8 million (98 cents a share) from $133.7 million (99 cents a share) the year earlier, but exceeded analyst expectations. Revenue rose 13.4% to $1.11 billion from $979.4 million.

Key Stats:

Revenue has increased in each of the past four quarters. Revenue rose 15.8% in the third quarter of the last fiscal year from the year earlier, climbed 10.7% in the second quarter of the last fiscal year from the year-ago quarter and 2.4% in the first quarter of the last fiscal year.

The company has seen net income drop in each of the last two quarters. Net income dropped 10.2% in the third quarter of the last fiscal year.

Stock Price Performance: Between December 22, 2011 and March 21, 2012, the stock price rose $2.34 (4.7%), from $49.59 to $51.93. The stock price saw one of its best stretches over the last year between March 6, 2012 and March 13, 2012, when shares rose for six straight days, increasing 2.7% (+$1.35) over that span. It saw one of its worst periods between November 15, 2011 and November 23, 2011 when shares fell for seven straight days, dropping 5.7% (-$2.80) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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