MKC-V FY 2017 Earnings Report — McCormick & Company, Incorporated Revenue & Financial Results | Market Cap Arena

McCormick & Company, IncorporatedMKC-V

FY 2017 Earnings

Reported November 29, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$4.8B	—	$4.4B	—	9.6%
Op. Income	$700M	—	$641M	—	9.2%
Gross Margin	41.6%	—	41.5%	—	0.1pp
Net Margin	9.9%	—	10.7%	—	-0.8pp
EPS (Diluted)	$1.86	—	$1.85	—	0.5%
Free Cash Flow	$633M	—	$504M	—	25.5%

Revenue Flow

Item	Amount
REVENUE	$4.8B
Cost of Revenue	$2.8B
GROSS PROFIT	$2.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.0B
Other Expenses	$63M
Operating Expenses	$1.1B
Cost & Expenses	$4.0B
OPERATING INCOME	$700M
Interest Income	$0
Interest Expense	$90M
Other Income/Expenses	-$71M
INCOME BEFORE TAX	$629M
Income Tax Expense	$151M
Net Income from Continuing Ops	$477M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$477M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$477M
D&A	$125M
EBIT	$691M
EBITDA	$816M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$4.8B
Cost of Revenue	$2.8B
GROSS PROFIT	$2.0B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.0B
Other Expenses	$63M
Operating Expenses	$1.1B
Cost & Expenses	$4.0B
OPERATING INCOME	$700M
Interest Income	$0
Interest Expense	$90M
Other Income/Expenses	-$71M
INCOME BEFORE TAX	$629M
Income Tax Expense	$151M
Net Income from Continuing Ops	$477M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$477M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$477M
D&A	$125M
EBIT	$691M
EBITDA	$816M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$477M
Depreciation & Amortization	$125M
Stock-Based Compensation	$24M
Deferred Income Tax	$24M
Other Non-Cash Items	$28M
Change in Working Capital	$137M
OPERATING CASH FLOW	$815M
Capital Expenditure	-$182M
Acquisitions (Net)	-$4.3B
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$4.5B
Net Debt Issuance	$3.6B
Common Stock Repurchased	-$138M
Common Dividends Paid	-$238M
Other Financing Activities	$555M
NET CASH FROM FINANCING	$3.8B
FREE CASH FLOW	$633M
Net Change in Cash	$68M

Balance Sheet

Item	Amount
Cash & Equivalents	$187M
Short-Term Investments	$0
Net Receivables	$555M
Inventory	$793M
Other Current Assets	$49M
TOTAL CURRENT ASSETS	$1.6B
PP&E (Net)	$809M
Goodwill	$4.5B
Intangible Assets	$3.1B
Long-Term Investments	$399M
Tax Assets	-$108M
Other Non-Current Assets	$108M
TOTAL NON-CURRENT ASSETS	$8.8B
TOTAL ASSETS	$10.4B
Account Payables	$640M
Short-Term Debt	$583M
Deferred Revenue	$0
Other Current Liabilities	$543M
TOTAL CURRENT LIABILITIES	$1.9B
Long-Term Debt	$4.4B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$1.1B
Other Non-Current Liabilities	$1.4B
TOTAL NON-CURRENT LIABILITIES	$5.9B
TOTAL LIABILITIES	$7.8B
Common Stock	$1.7B
Additional Paid-In Capital	$0
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	-$280M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.6B
Minority Interest	$11M
TOTAL EQUITY	$2.6B
TOTAL LIABILITIES & EQUITY	$10.4B
Total Debt	$5.0B
Net Debt	$4.8B