McCormick Reports Favorable FX Impact on 3Q Results, Outlook -- Currency Comment
01 October 2021 - 2:30AM
Dow Jones News
By Paulo Trevisani
McCormick & Company Inc. said Thursday that currency
translations boosted third quarter results and are likely to remain
a favorable factor.
The Baltimore-based maker of spices and condiments backed its
previous guidance for fiscal 2021, forecasting a 3 percentage
points favorable FX impact on sales and a 2 percentage points
currency boost on adjusted operating income and adjusted per-share
earnings.
The company reported an 8% sales increase in the third quarter
ended Aug. 31 from a year earlier, including a 3% favorable impact
from currency. It said consumer sales in Europe, Middle East and
Africa declined 6% in the same period, including a 5% favorable
impact from currency.
Write to Paulo Trevisani at paulo.trevisani@wsj.com
(END) Dow Jones Newswires
September 30, 2021 12:15 ET (16:15 GMT)
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