- MKC reported Q1 earnings of $82.5 million, or 62 cents per share, up from $76.0 million, or 57 cents per share, a year ago.
- Revenue rose to $993.4 million from $934.4 million last year.
- On average, analysts expected to see 58 cents per share and revenue of $973.20 million.
- For the second quarter, the company expects earnings to grow only slightly as higher brand marketing support weak demand in quick service restaurants have hurt the company.
- Looking forward to FY2014, the company expects to see earnings between $3.22 and $3.29 per share, while analysts expect $3.26 per share.
Alan D. Wilson, Chairman, president and CEO of MKC, commented: "Our first quarter result was a great start to 2014 with higher sales, a profit result that was ahead of our initial outlook, and strong cash flow. McCormick's leadership position in growing categories, employee engagement around the world, and focus on performance are driving these results and have us well-positioned for further success."MKC's Dividend MKC paid its last quarterly dividend on January 14. This 37 cent dividend was an 8% increase from the company's previous dividend. We expect MKC to announce its next dividend in April. Stock Performance McCormick & Company shares were mostly flat during pre-market trading Tuesday. The stock is down 2% YTD.