MKC McCormick & Co. Inc. featured news, full reports, and detailed charts
McCormick & Co. Inc. (MKC) Wrap Up:
McCormick & Company, Incorporated, a specialty food company, engages in the manufacture, marketing, and distribution of flavor products and other specialty food products to the food industry worldwide. It operates in two segments, Consumer and Industrial. The Consumer segment offers spices, herbs, extracts, seasoning blends, sauces, marinades, and specialty foods to the consumer food market through retail outlets, including grocery, mass merchandise, warehouse clubs, and discount and drug stores. This segment markets its products under the brand names McCormick, Lawry?s, Zatarain?s, Thai Kitchen, Simply Asia, Ducros, Schwartz, Vahine, Silvo, Club House, Billy Bee, Lawry?s, and Adolph?s. The Industrial segment provides seasoning blends, natural spices and herbs, wet flavors, coating systems, and compound flavors to food manufacturers and the food service industry through distributors. McCormick & Company also sells its products directly to customers and through brokers and wholesalers. The company was founded in 1889 and is headquartered in Sparks, Maryland.www.mccormick.com
7,500 Employees
Founded in 1889
McCormick & Co. Inc. (MKC:NYSE)
LAST $35.96 USD
CHANGE TODAY -0.03 -0.08%
VOLUME 699.9K
As of 4:01 PM 11/20/09 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of McCormick & Co. Inc. (MKC)
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OPEN
$35.89
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PREVIOUS CLOSE
$35.99
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DAY HIGH
$36.15
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DAY LOW
$35.83
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52 WEEK HIGH
11/16/09 - $36.25
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52 WEEK LOW
04/16/09 - $28.08
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MARKET CAP
4.3B
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AVERAGE VOLUME 3 mo
526.8K
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DILUTED EPS TTM
$2.01
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SHARES OUTSTANDING
118.5M
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EX-DATE
09/30/09
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P/E TTM
17.9x
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DIVIDEND
$0.96
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DIVIDEND YIELD
2.67%
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| K = Thousands M = Millions B = Billions | ||
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MKC Top Compensated Officers
Mr. Alan D. Wilson
Chairman of the Board, Chief Executive Office...
Age: 51
Total Annual Compensation: $742.1K
Mr. Gordon M. Stetz Jr.
Chief Financial Officer, Executive Vice Presi...
Age: 48
Total Annual Compensation: $383.7K
Mr. Mark T. Timbie
President of North American Consumer Foods
Age: 54
Total Annual Compensation: $460.6K
Mr. Lawrence E. Kurzius
President of International Business
Age: 52
Total Annual Compensation: $418.7K
Executives, Board Directors
Compensation as of Fiscal Year 2008.
Key developments for McCormick & Co. Inc. (MKC)
McCormick & Co. Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended August 31, 2009; Revised Earnings Guidance for the Year of Fiscal 2009
09/24/2009
McCormick & Co. Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended August 31, 2009. For the quarter, the company reported net income of $75.1 million or $0.57 per diluted share on net sales of $791.7 million compared to net income of $68.6 million or $0.52 per diluted share on net sales of $781.6 million for the same period a year ago. The company reported operating income of $116.6 million, income from consolidated operations before income taxes of $104.1 million and net income from consolidated operations of $72.0 million compared to operating income of $92.9 million, income from consolidated operations before income taxes of $90.1 million and net income from consolidated operations of $63.3 million for the same period a year ago. Adjusted net income was $75.8 million or $0.57 per diluted share compared to adjusted net income of $65.5 million or $0.50 per diluted share for the same period a year ago. For the nine months, the company reported net income of $183.5 million or $1.39 per diluted share on net sales of $2,267.5 million compared to net income of $173.4 million or $1.32 per diluted share on net sales of $2,269.7 million for the same period a year ago. The company reported operating income of $289.0 million, income from consolidated operations before income taxes of $250.6 million and net income from consolidated operations of $173.4 million compared to operating income of $250.8 million, income from consolidated operations before income taxes of $226.9 million and net income from consolidated operations of $158.4 million for the same period a year ago. Net cash flow from operating activities was $195.1 million and capital expenditures was $53.8 million compared to net cash flow from operating activities was $115.3 million and capital expenditures was $56.7 million for the same period a year ago. Adjusted net income was $189.2 million or $1.43 per diluted share compared to adjusted net income of $170.8 million or $1.30 per diluted share for the same period a year ago. The company revised earnings guidance for the year of fiscal 2009. The company narrowed its 2009 earnings per share projection to $2.26 to $2.28 from $2.24 to $2.28. This revised range is an increase of 8 to 9% versus 2008 on a comparable basis when the impact of restructuring charges and unusual items are excluded. The company reaffirmed its expectation to grow sales 2 to 3% and continues to project a gross profit margin increase of at least 0.5% points for the fiscal year.
McCormick & Co. Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on September 24, 2009).
09/24/2009
McCormick & Co. Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on September 24, 2009).
McCormick & Co. Inc. Declares Quarterly Dividend, Payable on October 16, 2009
09/22/2009
The board of directors of McCormick & Co. Inc. declared a quarterly dividend of $0.24 per share on its common stocks payable October 16, 2009, to shareholders of record on October 2, 2009.
MKC Competitors
| Company | Last | Change |
| Corn Products International Inc | $28.21 USD | -0.50 |
| Del Monte Foods Co | $10.73 USD | -0.09 |
| Flowers Foods Inc | $23.04 USD | +0.02 |
| International Flavors and Fragrances Inc | $40.46 USD | -0.02 |
| Ralcorp Holding Inc | $55.92 USD | +1.34 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | MKC | Industry Range |
| Price/Earnings | 17.9x |
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| Price/Sales | 1.5x |
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| Price/Book | 3.5x |
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| Price/Cash Flow | 16.0x |
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| TEV/Sales | 1.0x |
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MKC |
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MKC transactions
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| No transactions in the last 6 months. | ||
More Recent News About McCormick & Co. Inc.
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McCormick Joins Coalition to Fight Childhood Obesity
SPARKS, Md.--(BUSINESS WIRE)--McCormick & Company, Inc. (NYSE:MKC - News) today joins a coalition of food manufacturers, retailers and non-governmental organizations to combat the national epidemic of childhood obesity. The effort is spearheaded by the Grocery Manufacturers Association (GMA) and the Food Marketing Institute (FMI) called the Healthy Weight Commitment Foundation (HWCF). The HWCF will provide and promote solutions that help people achieve a healthy weight through an “energy balance†approach – balancing calories consumed through healthy eating with calories expended by physical activity. “Responding to the national crisis regarding obesity is imperative,†said McCormick Chairman, President & CEO Alan Wilson. Wilson is also a member of the HWCF Board. “The goals of HWCF align well with the focus of McCormick. Most of our products are natural and low calorie, and the many recipes we develop and communicate to consumers stress healthy eating and balanced nutrition. Our intent going forward is to continue to make consumers knowledgeable about healthy, nutritious options when they eat. Making children aware of the importance of their choices will have a positive impact on the United States economically and improve the overall health and well-being of our nation. HWCF’s programs are on target to address the obesity problem, and McCormick will remain a c...Click here to read the whole Article (external link)
P.W. Feats changes name, taps new president to highlight ‘experience marketing’
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MCCORMICK & CO INC Files SEC form 10-Q, Quarterly Report
ITEM 2 MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS OVERVIEW Our Business We are a global leader in the manufacture, marketing and distribution of spices, herbs, seasonings, specialty foods and flavors to the entire food industry. Customers range from retail outlets and food manufacturers to food service businesses. Our major sales, distribution and production facilities are located in North America and Europe. Additional facilities are based in Mexico, Central America, Australia, China, Singapore, Thailand and South Africa. Annually, approximately 40% of our sales have been outside of the United States. We operate in two business segments, consumer and industrial. Profit margins in our consumer business are higher than the profit margins in our industrial business, which is consistent with the experience of other manufacturers operating in the same business segments. On average, approximately 80% of our product costs are from materials and packaging and approximately 20% are from labor and overhead. Across both segments, we have the customer base and product breadth to participate in all types of eating occasions, whether it is cooking at home, dining out, purchasing a quick service meal or enjoying a snack. We offer consumers a range of products from premium to value-priced. Our Strategy Our strategy is to improve margins, invest in our business and increase sales and profits. Improving Margins - Beginning in the latter part of 2007, our Table of Contents progress with margin improvement was hampered by an environment of volatile costs for many raw and packaging materials. However, we have begun to improve margins in recent quarters due to cost-savings programs, new capabilities and improved processes. We are also improving margins with the acquisition of strong consumer brands such as Lawry's and the introduction of higher-margin, more value-added indu...Click here to read the whole Article (external link)
Dow Jones Industrial Average tops 10,000 for first time in a year
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MCCORMICK & CO INC Financials
PERIOD ENDING31-Aug-0931-May-0928-Feb-0930-Nov-08Total Revenue791,700 757,300 718,500 906,900 Cost of Revenue472,700 455,000 434,300 510,800 Gross Profit319,000 302,300 284,200 396,100 Operating ExpensesResearch Development - - - - Selling General and Administrative201,500 212,900 193,900 231,000 Non Recurring900 6,800 500 39,400 Others - - - - Total Operating Expenses - - - - Operating Income or Loss116,600 82,600 89,800 125,700 Income from Continuing OperationsTotal Other Income/Expenses Net100 1,200 500 1,600 Earnings Before Interest And Taxes116,700 83,800 90,300 127,300 Interest Expense12,700 13,100 14,400 16,400 Income Before Tax104,000 70,700 75,900 110,900 Income Tax Expense32,000 23,800 21,400 32,100 Minority Interest - - - - Net Income From Continuing Ops82,100 43,700 57,700 82,400 Non-recurring EventsDiscontinued Operations(7,000)7,000 - - Extraordinary Items - - - ...Click here to read the whole Article (external link)
McCormick & Co. raises $492 million in debt offering
ONLINE: home | business news | small business | sales & marketing | real estate | events | community | careers | city guide | advertise | about us | rss PRINT: subscribe | renew | advertise | book of lists | business intelligence | classifieds | ...Click here to read the whole Article (external link)
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