MKC-V Q3 2016 Earnings Report — McCormick & Company, Incorporated Revenue & Financial Results | Market Cap Arena

McCormick & Company, IncorporatedMKC-V

Q3 2016 Earnings

Reported August 30, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$1.1B	$1.1B	—	2.6%	—
Op. Income	$168M	$125M	—	34.2%	—
Gross Margin	41.6%	40.7%	—	0.9pp	—
Net Margin	11.7%	8.8%	—	2.9pp	—
EPS (Diluted)	$0.50	$0.37	—	35.1%	—
Free Cash Flow	$77M	$102M	—	-25.2%	—

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$637M
GROSS PROFIT	$454M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$282M
Other Expenses	$4M
Operating Expenses	$286M
Cost & Expenses	$923M
OPERATING INCOME	$168M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$154M
Income Tax Expense	$34M
Net Income from Continuing Ops	$128M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$128M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$128M
D&A	$29M
EBIT	$168M
EBITDA	$197M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$637M
GROSS PROFIT	$454M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$282M
Other Expenses	$4M
Operating Expenses	$286M
Cost & Expenses	$923M
OPERATING INCOME	$168M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$154M
Income Tax Expense	$34M
Net Income from Continuing Ops	$128M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$128M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$128M
D&A	$29M
EBIT	$168M
EBITDA	$197M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$128M
Depreciation & Amortization	$29M
Stock-Based Compensation	$4M
Deferred Income Tax	$0
Other Non-Cash Items	-$2M
Change in Working Capital	-$50M
OPERATING CASH FLOW	$110M
Capital Expenditure	-$33M
Acquisitions (Net)	$2M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$800.0K
NET CASH FROM INVESTING	-$30M
Net Debt Issuance	$46M
Common Stock Repurchased	-$78M
Common Dividends Paid	-$54M
Other Financing Activities	$11M
NET CASH FROM FINANCING	-$76M
FREE CASH FLOW	$77M
Net Change in Cash	$3M

Balance Sheet

Item	Amount
Cash & Equivalents	$134M
Short-Term Investments	$0
Net Receivables	$445M
Inventory	$760M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$641M
Goodwill	$1.8B
Intangible Assets	$434M
Long-Term Investments	$361M
Tax Assets	$0
Other Non-Current Assets	$0
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$4.7B
Account Payables	$361M
Short-Term Debt	$560M
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	$543M
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	-$400M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.8B
Minority Interest	$17M
TOTAL EQUITY	$1.8B
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$1.6B
Net Debt	$1.5B