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McCormick executives play defense after ‘disappointing’ fourth quarter

January 29, 2021

Shares of McCormick & Co. Inc. dipped in trading on Thursday after the spice maker reported what some Wall Street analysts perceived as a “disappointing” fourth quarter. Hunt Valley-based McCormick’s profit declined slightly in the fourth quarter — by 1.5% to $213.2 million — and fell slightly short of Wall Street’s consensus estimate. McCormick (NYSE: MKC) achieved a record $5.6 billion in sales for the full year while sales growth in the fourth quarter of 4% to $1.56 billion, after adjusting for currency exchange rates, matched the consensus view.

Article Source: Baltimore Business Journal

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