McCormick Reports Strong 2020 Financial Results And Provides Outlook For 2021
News provided by
Share this article
Share this article
HUNT VALLEY, Md., Jan. 28, 2021 /PRNewswire/ McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today reported financial results for the fourth quarter and fiscal year ended November 30, 2020.
For the fiscal year 2020, sales rose 5% from the prior year, with minimal impact from currency. Significant Consumer segment growth of 10% was partially offset by a low single digit sales decline in the Flavor Solutions segment. Earnings per share increased to $2.78 from $2.62 in 2019. Adjusted earnings per share rose 6% to $2.83 from $2.68.
For the fourth quarter, sales increased 5% from the year-ago period. In constant currency, the Company grew sales 4% driven by growth in both segments. Earnings per share decreased to $0.74 from $0.79. Adjusted earnings per share decreased to $0.79 from $0.81 driven by higher brand marketing i
Share this article
Share this article
HUNT VALLEY, Md., Jan. 25, 2021 /PRNewswire/ McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, was named the world s 6
th most sustainable corporation and No. 1 in the Packaged and Processed Foods and Ingredients sector on the 2021
Global 100 Sustainability Index, released today by Corporate Knights. This year the company advanced 16 spots in the overall ranking and retained its top position among its food industry peers. Five years after our debut on this prestigious list, I m proud to see that McCormick has achieved its highest ranking yet. This honor underscores McCormick s continued commitment to Purpose-led Performance and to doing what s right for people, the communities where we live, work and source and the planet we share, said Lawrence E. Kurzius, Chairman, President and CEO of McCormick & Company. Standing together for the future of flavor and reducing our impact on the planet has never been more imp
McCormick Acquires FONA International, LLC
McCormick Accelerates Flavor Growth and Strengthens its Leadership in Clean and Natural Flavors
News provided by
Share this article
Share this article
HUNT VALLEY, Md., Dec. 30, 2020 /PRNewswire/ McCormick & Company Inc. (NYSE: MKC) (the Company ), a global leader in flavor, today announced that it has purchased 100% of the shares of FONA International, LLC and certain of its affiliates ( FONA ), a privately held company. FONA is a leading manufacturer of clean and natural flavors providing solutions for a diverse customer base across various applications for the food, beverage and nutritional markets. McCormick has acquired the business for $710 million in cash.