McCormick & Co. Q1 Profit Decreases, but beats estimates

(RTTNews) - McCormick & Co. (MKC) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $139.1 million, or $0.52 per share. This compares with $154.9 million, or $0.57 per share, in last year's first quarter.

Excluding items, McCormick & Co. reported adjusted earnings of $160.4 million or $0.59 per share for the period.

Analysts on average had expected the company to earn $0.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.3% to $1.57 billion from $1.52 billion last year.

McCormick & Co. earnings at a glance (GAAP) :

-Earnings (Q1): $139.1 Mln. vs. $154.9 Mln. last year. -EPS (Q1): $0.52 vs. $0.57 last year. -Analyst Estimates: $0.51 -Revenue (Q1): $1.57 Bln vs. $1.52 Bln last year.

-Guidance: Full year EPS guidance: $2.56 to $2.61