$MKC (McCormick & Company, Incorporated)

$MKC {{ '2016-09-30T12:18:27+0000' | timeago}} • Webcast

$MKC expects to launch a lineup of new products in 2H16, which include the rollout of its herb grinders in additional markets, organic recipe mixes and Kitchen Basics Bone Broth in the US. Internationally, the company is introducing new world cuisine recipe mixes across Europe and innovative dessert items in France and Australia.

$MKC {{ '2017-11-28T21:35:29+0000' | timeago}} • Announcement

$MKC declared an increase in the quarterly dividend from $0.47 to $0.52 per share on its common stocks, payable January 16, 2018 to shareholders of record December 29, 2017.

$MKC {{ '2017-09-28T19:07:20+0000' | timeago}} • Webcast

$MKC said with regards to cost synergies from the RB Foods deal, the level given is $50MM, based on historical performance with acquisitions, the CCI program and cost of goods sold. On the revenue synergy side, $MKC has modelled growth in the international business, but the bulk of the financial return has to come from performance in the Americas.

$MKC {{ '2017-09-28T18:49:10+0000' | timeago}} • Webcast

The RB Foods acquisition impact to $MKC’s adjusted EPS was neutral in 3Q17. $MKC expects the deal to be accretive to adjusted EPS in its first 12 months with an increase of about 5% excluding transaction and integration expenses, as well as the RB Foods amortization expense. This expectation increases to about 10% when synergies are fully realized.

$MKC {{ '2017-09-28T18:48:53+0000' | timeago}} • Webcast

During 3Q17, in the consumer segment, in the Americas, $MKC grew constant currency sales by 7% including 3% from the acquisition of RB Foods. Base business growth of 4% was driven by higher pricing volume and product mix. During the same period, $MKC’s US branded spices and seasonings grew 5%.

$MKC {{ '2017-09-28T15:27:21+0000' | timeago}} • Infographic

$MKC McCormick & Company, Incorporated Earnings AlphaGraphic: Q3 2017 Highlights

$MKC {{ '2017-09-28T14:33:11+0000' | timeago}} • Announcement

In 2017, $MKC expects to grow sales 9-10% compared to 2016. Excluding the impact of unfavorable currency rates, the projected growth is 10-11%. $MKC expects EPS to be $3.69-3.73 and adjusted EPS to be $4.20-4.24. Operating income is expected to grow 10-11% from 2016. The company plans to achieve at least $105MM of savings from its CCI program.

$MKC {{ '2017-09-28T14:24:35+0000' | timeago}} • Announcement

$MKC reported a decrease in 3Q17 earnings, driven by transaction and integration expenses from the Reckitt Benckiser Foods acquisition. Net income was $108.2MM or $0.85 per share compared to $127.7MM or $1.00 per share in 3Q16. Adjusted EPS rose 9% to $1.12. Net sales grew 9% to $1.18Bil compared to last year.

$MKC {{ '2017-09-26T21:25:51+0000' | timeago}} • Announcement

$MKC said its BoD declared a quarterly dividend of $0.47 per share on its common stocks. The dividend is payable October 24, 2017, to shareholders of record on October 10, 2017.

$MKC {{ '2017-08-18T15:19:11+0000' | timeago}} • Announcement

$MKC completed the previously announced acquisition of Reckitt Benckiser's Food Division from Reckitt Benckiser Group plc. The purchase price of approx. $4.2Bil was funded by McCormick.

$MKC {{ '2017-08-09T14:03:14+0000' | timeago}} • Announcement

$MKC announced the pricing of an underwritten public offering of 5,524,862 shares of its common stock non-voting at a price of $90.50 per share. The offering is expected to close on or about Aug. 11, 2017. The net proceeds will be approx. $482MM, which $MKC intends to use, in part, to fund the acquisition of Reckitt Benckiser's Food Division.

$MKC {{ '2017-08-07T21:33:08+0000' | timeago}} • Announcement

Food company $MKC launched a public offering of $500MM of its non-voting common stock. McCormick will use net proceeds of the offering to fund a part of the consideration payable for the acquisition of Reckitt Benckiser's Food Division. If the acquisition does not close as planned, the proceeds will be used for general corporate purposes.

$MKC {{ '2017-06-29T14:14:15+0000' | timeago}} • Webcast

When asked whether $MKC has got a chance to grow its presence in $WFM as a result of the $AMZN-$WFM merger, McCormick stated that it is well positioned based on the relationship with Amazon. The company added that it is under-represented at Whole Foods with some of $MKC's secondary brands in distribution.

$MKC {{ '2017-06-29T13:51:38+0000' | timeago}} • Webcast

Similar to 1Q17, $MKC's Consumer segment sales in UK decreased during 2Q17, hurt by challenging retail market and a reduction in the number of Schwartz brand products by a large UK retailer. In Asia-Pacific, Consumer segment sales in China and India grew in double-digits.

$MKC {{ '2017-06-29T13:10:04+0000' | timeago}} • Webcast

$MKC expects to achieve annual cost savings of about $30-40MM once it fully implements the three-year McCormick Global Enablement (MGE) initiative, which was announced during the Investor Day. McCormick expects the cost to implement MGE initiative will be about $55-65MM. This special charge will be recognized over the three-year period.

$MKC {{ '2017-06-29T12:35:23+0000' | timeago}} • Webcast

As $MKC reported 2Q17 results, the spices manufacturer stated that it is seeing good growth in the spice and seasoning brands in the US market. As the industry outlook reflects a greater share of growth coming from eCommerce, club and discount formats, McCormick expects double-digit sales growth to continue in unmeasured channels.

$MKC {{ '2017-06-29T12:16:17+0000' | timeago}} • Infographic

$MKC McCormick & Company Earnings AlphaGraphic: Q2 2017 Highlights

$MKC {{ '2017-06-29T11:30:28+0000' | timeago}} • Announcement

In 2Q17, $MKC's consumer segment sales grew 2% to $656.4MM, helped by 10% increase in Asia/Pacific region. Industrial segment sales rose 9% to $457.9MM, riding on 22% sales jump in EMEA region.

$MKC {{ '2017-06-29T11:26:25+0000' | timeago}} • Announcement

$MKC projected 2017 EPS in the range of $3.94-4.02 compared to $3.69 it reported in 2016. Excluding an estimated $0.11 impact of special charges, the company reaffirmed projected adjusted EPS of $4.05 to $4.13.

$MKC {{ '2017-06-29T11:24:05+0000' | timeago}} • Announcement

Sales rose 5% in 2Q17 for $MKC to $1.11Bil, which helped the flavor manufacturer lift its net income to $100MM from $93.8MM a year ago. EPS rose to $0.79 from $0.73 and adjusted EPS rose 9% to $0.82 during the quarter.

$MKC {{ '2017-06-27T20:50:16+0000' | timeago}} • Announcement

$MKC's BoD declared a quarterly dividend of $0.47 per share on its common stock. The dividend is payable on July 24, 2017, to shareholders of record on July 10, 2017. $MKC's current annualized dividend rate of $1.88 per share represents an increase of 9% over the annual dividend of $1.72 per share paid in FY16.

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