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Inflation, supply chain issues hurt McCormick profit in first quarter

March 30, 2022

McCormick & Co.’s sales rose 3% in the first quarter, but inflation and supply chain challenges squeezed the Hunt Valley-based spice company’s profits. Sales rose to $1.5 billion in the three months that ended Feb. 28, compared with $1.48 billion in 2021′s first quarter, the spice maker reported Tuesday. McCormick earned $154.9 million, or 57 cents per share, compared with $161.8 million, or 60 cents a share, the year before.

Article Source: Baltimore Sun

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