A company named McCormick (MKC) is a big spice and seasoning company. It's like a big grocery store where you can find all the spices and seasonings you need for cooking. People all over the world use their products, and that's why McCormick is making a lot of money.

Today, McCormick shared some good news with the world. They told everyone how much money they made in the last three months, which is like a report card for companies. They also shared how much money they expect to make for the whole year.

The good news is that McCormick made more money than people expected. Their report card had even better grades than they expected! They made $1.679 billion in sales and earned 83 cents for each share of their stock.

This is important because people who own stocks in McCormick were happy to hear this news. They might even buy more shares of McCormick's stock, which can make the price of the stock go up.

The other good news is that McCormick raised their estimate for how much money they think they'll make for the whole year. They now think they'll make between $2.85 and $2.90 per share, which is better than the $2.80 to $2.85 they said before.

People who like to buy and sell stocks are always looking for companies that are doing well. They want to buy stocks in those companies so they can make money when the stock prices go up. That's why McCormick's good news is important.

In the end, McCormick's good report card made their stock price go up. Their stock is now worth more money than it was before they shared their news.

Remember, a company's stock price can go up or down based on a lot of different factors. But, when a company shares good news like McCormick did today, it can help make their stock more valuable. Read from source...

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Title of the article:
McCormick Stock Gains After Q3 Earnings Beat, Raised EPS Outlook

### AI:
Text of the article:
McCormick's Q3 adjusted EPS reached 83 cents, exceeding the consensus estimate of 67 cents, with sales of $1.679 billion.McCormick raised its FY24 EPS outlook to $2.85-$2.90, anticipating sales growth between a decline of 1% and an increase of 1%.

McCormick & Company MKC shares are trading higher after the company reported its third-quarter results and raised its full-year EPS outlook.
The company registered quarterly adjusted earnings per share of 83 cents, beating the street view of 67 cents. Quarterly sales total $1.679 billion, outpacing the analyst consensus of $1.668 billion. Sales in the third quarter were comparable to the year-ago period, reflecting volume growth of 1%, partially offset by price.

Gross profit margin expanded by 170 basis points compared to the third quarter of last year. This expansion was driven by favorable mix as well as cost savings led by the company’s Comprehensive Continuous Improvement (CCI) program.

Also Read: US Stocks Set For Shaky Start Ahead Of JOLTS Data, Nike Earnings: Strategist Says These 3 Structural Drivers Support ‘Buying The Dip’

“This quarter we reached a meaningful milestone by delivering total global positive volume growth, reflecting improved trends across both segments, and we expect this momentum to continue into the fourth quarter,” said BrenAI M. Foley, President and CEO.

McCormick’s quarterly dividend of $0.42 per share on its common stocks is payable October 21 to shareholders of record October 7

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