McCormick beats on sales and profit, but shares reverse lower
-4.87% to $44.14 from $46.40
What moved MKC
- Fiscal third-quarter adjusted earnings were $0.86 per share, above the $0.76 estimate, while revenue rose to $2.02 billion from an expected $1.98 billion.
- The earnings beat was aided by contributions from a recent acquisition.
- Shares initially rose in premarket trading on the beat before reversing to trade lower on the session.
Sources: Investing.com