NEW YORK (TheStreet) -- McCormick & Co. (MKC) - Get Report stock is gaining 3.93% to $85.42 in afternoon trading on Thursday after the company reported better than expected financial results for the fiscal 2015 fourth quarter.
This morning before the market open the Sparks, MD-based food company reported earnings of $1.18 per share for the quarter ended November 30, beating estimates by 1 cent.
Revenue increased 2.4% year-over-year to $1.2 billion. Analysts anticipated revenue of $1.19 billion.
Consumer net sales increased 6% on a constant currency basis, driven by strong growth in Europe, the Middle East and Asia. The industrial segment reported an 11.2% jump in net sales, also on a constant currency basis, with all sectors posting double-digit growth.
Additionally, McCormick set its fiscal 2016 full year earnings guidance just below estimates at $3.65 to $3.72 per share, as Wall Street was anticipating earnings of $3.73 per share.
Separately, McCormick has a "buy" rating and letter grade of A at TheStreet Ratings because of the company's revenue growth, notable return on equity, good cash flow from operations, expanding profit margins and solid stock price performance.
You can view the full analysis from the report here: MKC
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.