Flavorful 3Q Supports a Recipe for McCormick's Leading Competitive Edge; Shares Fairly Valued
While other packaged food operators continue to be plagued by lackluster sales, McCormick again bucked the trend, chalking up solid third-quarter results (which included 4.4% organic sales growth and 140 basis points of adjusted operating income improvement to 17.2%). But even more impressive, the firm’s growth came on top of 4% gains in the year-ago period and spanned both the consumer (about 60% of total sales, up 3%) and industrial (around 40% of sales, up 7%) segments. We surmise this speaks...McCormick & Co. manufactures, markets and distributes spices, seasoning mixes, condiments and other flavor products to the food industry- retailers, food manufacturers and foodservice businesses. The company also is partner in a number of joint ventures that are involved in the manufacture and sale of flavor products. The company's business segments comprised of: consumer, in which the company markets its products to customers and supplies private label items, known as store brands; and flavor solutions, which provides a range of flavor solutions including seasoning blends, spices and herbs, condiments, coating systems and compound flavors.
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