The company said its sales for Q3 2024 declined 0.3% from the year-earlier period, while operating income rose 16.9% to $286.5 million from $245.0 million a year earlier.

1. 01

   The company said its sales for Q3 2024 declined 0.3% from the year-earlier period, while operating income rose 16.9% to $286.5 million from $245.0 million a year earlier.

2. 02

   McCormick said its gross profit margin for Q3 rose to 38.7%, up 170 basis points, and that SG&A fell $10.2 million. The company cited product and customer mix and cost savings from its CCI program as factors behind the higher gross profit margin.

3. 03

   The company said its diluted earnings per share for Q3 were $0.83, above $0.63 a year earlier, and that adjusted diluted earnings per share, excluding special charges, were $0.83, up 27.7% from $0.65 a year earlier.

4. 04

   The company said net cash provided by operating activities was $463.2 million for the 9 months ended August 31, 2024, down $196.9 million from a year earlier. It also said it repaid $700.0 million 3.15% notes during the same period.

Key figures

Quarter ended August 31, 2024

Revenue

$1.7B

Operating income

$287M

Net income

$223M

EPS

$0.83

Gross profit

$650M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.