Seasoning and condiment maker McCormick sprinkled a dash of optimism among investors on Tuesday with better-than-expected fiscal third-quarter results as well as higher full-year guidance.
The maker of McCormick-brand spices posted adjusted net income of $196.5 million, or $1.46 a share, in its fiscal quarter ended Aug. 31, vs. $170 million, or $1.28 a share, in the comparable year-ago period - well above analysts' forecasts of $1.29 a share.
The company also spiced up its full-year fiscal outlook, lifting its outlook for adjusted per-share earnings to between $5.30 and $5.35, up from previous guidance of between $5.20 and $5.30.
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