Why McCormick Stock Still Looks Appetizing
McCormick (NYSE: MKC) had some unappetizing news for investors in its most recent earnings report. Sure, the spice and sauce giant's sales continued growing at a solid pace. And profitability held up well despite historic inflation. But McCormick noted a worrying decline in sales volumes as consumers scaled back following its latest round of price increases.
Let's take a closer look at the company's latest trends, and why they confirm that the stock is still on the right track.
For the third quarter (ended August 31), McCormick's revenue expanded by 6% after accounting for currency exchange rate shifts. This marks a nice acceleration compared to the flat result in the prior quarter. Look behind the headline number and you'll see even more reason for optimism.
Source Fool.com
