MKC-V Q2 2016 Earnings Report — McCormick & Company, Incorporated Revenue & Financial Results | Market Cap Arena

McCormick & Company, IncorporatedMKC-V

Q2 2016 Earnings

Reported May 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2016	Q1 2016	Q2 2015	QoQ Change	YoY Change
Revenue	$1.1B	$1.0B	—	3.2%	—
Op. Income	$125M	$129M	—	-3.2%	—
Gross Margin	40.7%	39.3%	—	1.4pp	—
Net Margin	8.8%	9.1%	—	-0.2pp	—
EPS (Diluted)	$0.37	$0.37	—	0.0%	—
Free Cash Flow	$102M	$56M	—	84.5%	—

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$631M
GROSS PROFIT	$433M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$304M
Other Expenses	$4M
Operating Expenses	$308M
Cost & Expenses	$938M
OPERATING INCOME	$125M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$112M
Income Tax Expense	$26M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$27M
EBIT	$126M
EBITDA	$152M
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$631M
GROSS PROFIT	$433M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$304M
Other Expenses	$4M
Operating Expenses	$308M
Cost & Expenses	$938M
OPERATING INCOME	$125M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	-$13M
INCOME BEFORE TAX	$112M
Income Tax Expense	$26M
Net Income from Continuing Ops	$94M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$94M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$94M
D&A	$27M
EBIT	$126M
EBITDA	$152M
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$94M
Depreciation & Amortization	$27M
Stock-Based Compensation	$13M
Deferred Income Tax	$0
Other Non-Cash Items	$900.0K
Change in Working Capital	$700.0K
OPERATING CASH FLOW	$135M
Capital Expenditure	-$32M
Acquisitions (Net)	-$118M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$117M
NET CASH FROM INVESTING	-$149M
Net Debt Issuance	$123M
Common Stock Repurchased	-$53M
Common Dividends Paid	-$55M
Other Financing Activities	$18M
NET CASH FROM FINANCING	$29M
FREE CASH FLOW	$102M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$132M
Short-Term Investments	$0
Net Receivables	$400M
Inventory	$740M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$637M
Goodwill	$1.8B
Intangible Assets	$410M
Long-Term Investments	$358M
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$4.6B
Account Payables	$366M
Short-Term Debt	$514M
Deferred Revenue	$0
Other Current Liabilities	$2M
TOTAL CURRENT LIABILITIES	$1.3B
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$545M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$2.9B
Common Stock	$1.1B
Additional Paid-In Capital	$0
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$388M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$17M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$1.6B
Net Debt	$1.4B