Latest news with #MKC
The Citizen
17 hours ago
- Entertainment
- The Citizen
WATCH: Former ‘Uzalo' star Glen Gabela grateful as donations pour in
A video of Gabela asking for help went viral on social media a few days ago. Former Uzalo actor Glen Gabela has expressed gratitude after receiving donations from his supporters. This follows a viral video of him asking for help on social media a few days ago. The video was posted by uMkhonto weSizwe Creatives (MKC) president Thulile Gambushe, who has been spearheading an initiative to improve Gabela's living conditions. ALSO READ: 'This is extremely sad': Gayton McKenzie reacts to former Uzalo actor's plea for help – [Video] Glen Gabela gets a new bed In a video recently posted by Gambushe, Gabela expressed gratitude for the support, saying he had managed to get a new bed from the donations. 'Mzansi, thank you very much for all that you have done for me. I know how difficult my situation was. 'I also want to thank you for the little that you have given, which has ended up making a big difference. Here is a bed from what you have contributed. From the bottom of my heart, thank you,' he said. Among other improvements, Gambushe shared that Gabela's door, which was in poor condition, has been replaced. Minister Gayton McKenzie to follow up After Gabela's video circulated on social media, Minister of the Department of Sport, Arts and Culture, Gayton McKenzie, said he would look into the matter. 'Thanks, will follow up and revert back today. This is extremely sad,' he tweeted. Thanks, will follow up and revert back today. This is extremely sad. — Gayton McKenzie (@GaytonMcK) August 14, 2025 NOW READ: Kaya FM suspends Sold Phenduka pending an internal investigation
Yahoo
29-07-2025
- Business
- Yahoo
McCormick Earnings Preview: What to Expect
With a market cap of $19.2 billion, McCormick & Company, Incorporated (MKC) is a global leader in the manufacture, marketing, and distribution of spices, seasonings, condiments, and flavorful products for both consumers and the food industry. Operating through its Consumer and Flavor Solutions segments, the company serves retail, foodservice, and industrial customers across the Americas, EMEA, and Asia-Pacific regions. Analysts expect the Hunt Valley, Maryland-based company to report adjusted earnings of $0.82 per share in Q3 2025, down 1.2% from $0.83 per share in the year-ago quarter. The company has surpassed Wall Street's earnings estimates in three of the last four quarters while missing on another occasion. More News from Barchart Tesla Just Signed a Chip Supply Deal with Samsung. What Does That Mean for TSLA Stock? Dear Microsoft Stock Fans, Mark Your Calendars for Aug. 1 Here's What Happened the Last Time Novo Nordisk Stock Was This Oversold Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For fiscal 2025, analysts expect the spices and seasonings company to report an adjusted EPS of $3.04, up 3.1% from $2.95 in fiscal 2024. In addition, adjusted EPS is projected to grow 8.9% year-over-year to $3.31 in fiscal 2026. Shares of MKC have decreased 5.2% over the past 52 weeks, lagging behind both the S&P 500 Index's ($SPX) 17.1% increase and the Consumer Staples Select Sector SPDR Fund's (XLP) over 3% rise over the same period. McCormick stock jumped 5.3% on Jun. 26 after the company reported Q2 2025 adjusted earnings of $0.69 per share, beating analyst estimates, and posted $1.7 billion in revenue, which met expectations. The Consumer segment outperformed with a 3% revenue increase driven by organic sales growth, while adjusted operating income rose 10% across both business segments, aided by lower SG&A expenses. Investor optimism was also fueled by management reaffirming full-year guidance, projecting 1% - 3% constant-currency revenue growth and a 3% increase in operating income and EPS at the midpoint. Analysts' consensus view on McCormick's stock is moderately optimistic, with a "Moderate Buy" rating overall. Among 14 analysts covering the stock, six recommend "Strong Buy," one suggests "Moderate Buy," six advise "Hold," and one "Strong Sell." As of writing, the stock is trading below the average analyst price target of $85.40. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
27-06-2025
- Business
- Yahoo
McCormick & Co Inc (MKC) Q2 2025 Earnings Call Highlights: Navigating Growth Amidst Global ...
Total Organic Sales Growth: Increased by 2% for the quarter, driven by volume and mix. Consumer Segment Organic Sales: Increased by 3%, with 4% volume growth in the Americas. Flavor Solutions Segment Organic Sales: Flat, with a 1% contribution from price offset by a 1% decline in volume and mix. Gross Profit Margin: Flat compared to the previous year, impacted by higher commodity costs. Adjusted Operating Income: Increased by 10%, or 11% excluding currency impacts. Adjusted Earnings Per Share: $0.69, comparable to the previous year. Cash Flow from Operations: $161 million, down from $302 million in the previous year. Capital Expenditures: $85 million used for capital expenditures. Tariff Exposure: Total gross annualized tariff exposure approximately $90 million, with $50 million in-year exposure for 2025. 2025 Financial Outlook: Net sales growth expected between 1% and 3%, with adjusted EPS projected at $3.03 to $3.08. Warning! GuruFocus has detected 5 Warning Signs with MKC. Release Date: June 26, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. McCormick & Co Inc (NYSE:MKC) reported a 2% increase in total organic sales for the second quarter, driven by volume growth, particularly in the Consumer segment. The company achieved volume growth of more than 3% in the Consumer segment, with strong performance in the Americas and EMEA regions. McCormick & Co Inc (NYSE:MKC) continues to see strong demand for its products, driven by consumer trends towards flavorful, fresh, and healthy meals. The company is effectively managing tariff impacts through strategic sourcing and cost-saving initiatives, maintaining its volume-led growth and operating profit outlook for 2025. McCormick & Co Inc (NYSE:MKC) is expanding its distribution and launching new products, such as air fryer seasonings and finishing salts, to drive growth and meet consumer demand. The Flavor Solutions segment experienced a decline in volume, particularly in the EMEA region, due to softness in customer volumes and geopolitical boycotts. The company faces increased cost pressures from the global trade environment, impacting its gross margin expectations for 2025. McCormick & Co Inc (NYSE:MKC) is experiencing softness in volumes from some large CPG customers, affecting its Flavor Solutions segment. The company anticipates continued challenges in the quick service restaurant (QSR) sector in EMEA, impacting its performance in that region. McCormick & Co Inc (NYSE:MKC) reported a decrease in cash flow from operations compared to the previous year, driven by higher cash used due to the timing of working capital. Q: Brendan, McCormick had been indicating that EBIT growth would be more weighted towards the second half, but second-quarter EBIT was stronger than expected. What contributed to this outcome? A: Brendan Foley, CEO: Our consumer business performed well, driven by volume across core categories, and we built share. In Flavor Solutions, we navigated tough conditions better than most. Marcos Gabriel, CFO, added that strong operating profit delivery was driven by SG&A efficiencies, including stock-based compensation and CCI program initiatives. Q: Can you elaborate on the tariff mitigation actions and how you balance cost work with strategic pricing? A: Marcos Gabriel, CFO: The majority of mitigation actions are driven by sourcing and CCI. We use data analytics for buying decisions and sourcing locations. Pricing is the residual, and we apply it surgically, using analytics to assess elasticity and maintain volume momentum. Q: Could you provide more detail on the gross tariff exposure of $90 million and the impact of the global trade environment on costs? A: Marcos Gabriel, CFO: Our tariff exposure is related to raw materials not grown in the US. We use a blended tariff rate to estimate a 2% impact on COGS globally. The global trade environment has not driven expected lower costs, impacting our gross margin, which we plan to offset through SG&A initiatives. Q: How are you managing sourcing opportunities without sacrificing quality? A: Brendan Foley, CEO: Quality remains a top priority, and we procure items that meet our high-quality requirements. Marcos Gabriel, CFO, emphasized that there is no trade-off between quality and price, and our sourcing organization ensures both. Q: What is the outlook for the Flavor Solutions segment in the second half of the year? A: Brendan Foley, CEO: In the Americas, we expect trends to sustain, with potential improvement if QSR traffic increases. In EMEA, we anticipate stabilization against weaker prior-year performance. Asia Pacific trends are expected to remain consistent with the first half. Q: How are discussions with retailers regarding innovation and pricing? A: Brendan Foley, CEO: We have positive, productive conversations with retailers, focusing on category growth and consumer needs. Our strong category management, innovation, and brand marketing support drive collaborative and successful retailer relationships. Q: Are you confident in achieving long-term objectives despite tariff impacts? A: Brendan Foley, CEO: Yes, we remain confident in our long-term objectives. While we adjust plans as needed, tariffs have not derailed our long-term strategy. Q: What is the level of innovation activity from large CPG customers, and how does it benefit McCormick? A: Brendan Foley, CEO: We see increased reformulation and innovation activity, particularly in health and wellness categories. This activity is incremental and benefits McCormick through strong win rates and collaboration with customers. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Business Insider
27-06-2025
- Business
- Business Insider
McCormick CEO: We are a growth oriented company
In an interview on CNBC's Mad Money, Brendan Foley said the company is investing in its brands. 'Our product portfolio is positioned well for the future,' he noted. 'We're working with a lot of fast growing, emerging brands.' The company's business in China is starting to show 'gradual growth,' he added. McCormick (MKC) has done a great job mitigating the impacts of tariffs, he noted. Confident Investing Starts Here:
Yahoo
27-06-2025
- Business
- Yahoo
McCormick Holds Fiscal 2025 Outlook as Quarterly Earnings Top Street Estimates
McCormick (MKC) reiterated its full-year outlook on Thursday amid plans to offset costs related to t Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
