McCormick tops quarterly sales and profit estimates

McCormick & Company, Incorporated

McCormick & Company, Incorporated

MKC

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- Cholula hot sauce maker McCormick MKC.N beat Wall Street estimates for second-quarter sales and profit on Thursday, driven by strong demand for its spices and seasonings as consumers cook more at home amid economic uncertainty.

The results come as McCormick is also pushing ahead with its planned merger with Unilever's ULVR.L food business in a roughly $45 billion deal that would significantly expand its presence beyond spices into condiments and meal solutions.

McCormick reported a quarterly revenue of $1.94 billion, compared with estimates of $1.91 billion, according to data compiled by LSEG.

The company reported an adjusted profit of 80 cents per share for the quarter, beating analysts' average estimate of 69 cents per share.