$MKC (McCormick & Company, Incorporated)

$MKC {{ '2015-07-01T14:34:30+0000' | timeago}} • Webcast

$MKC 2Q15 Q&A Update - Lawrence, COO: We are very focused on stabilizing & growing share. Our intention actually is to be driver growth in our category. We are seeing in some of our other brands like Zatarains, where we are seeing share improvements; so our core focus is on US consumer where core spices &seasonings represent 15% of our total sales

$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.

$MKC {{ '2017-05-23T18:43:18+0000' | timeago}} • Announcement

$MKC appointed Tony Vernon, retired CEO of Kraft Foods Group, to its BoD effective May 23, 2017. He currently serves on the boards of $XENT, $NVCR and $AXON.

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