McCormick & Company's CEO Lawrence Kurzius on Q2 2017 Results - Earnings Call Transcript

6/29/17

Thank you, Kasey. Good morning, everyone. Thanks for joining us. McCormick’s strong second quarter results reflect the effectiveness of our sales and profit growth strategies driven by the engagement of our employees around the world. We delivered growth in sales, operating income and earnings per share. With our year-to-date financial results and momentum heading into the second half of the year, we are well-positioned to deliver our financial outlook for fiscal 2017.

Our strength this quarter was evident in our top line results. In constant currency, we grew sales 7% for the total company with solid performance from both segments. Base business growth, new products and acquisitions are three drivers of long-term sales growth were all contributing factors. Year-to-date, we have grown sales in constant currency 6%. And based on these results, we reaffirmed our fiscal year outlook for a 5% to 7% constant currency sales increase.

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