MKC-V Q4 2016 Earnings Report — McCormick & Company, Incorporated Revenue & Financial Results | Market Cap Arena

McCormick & Company, IncorporatedMKC-V

Q4 2016 Earnings

Reported November 29, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2016	Q3 2016	Q4 2015	QoQ Change	YoY Change
Revenue	$1.2B	$1.1B	—	12.5%	—
Op. Income	$219M	$168M	—	30.6%	—
Gross Margin	44.0%	41.6%	—	2.4pp	—
Net Margin	12.8%	11.7%	—	1.1pp	—
EPS (Diluted)	$0.62	$0.50	—	24.0%	—
Free Cash Flow	$270M	$77M	—	252.2%	—

Revenue Flow

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$687M
GROSS PROFIT	$540M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$315M
Other Expenses	$6M
Operating Expenses	$321M
Cost & Expenses	$1.0B
OPERATING INCOME	$219M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$207M
Income Tax Expense	$62M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$157M
D&A	$26M
EBIT	$221M
EBITDA	$248M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.2B
Cost of Revenue	$687M
GROSS PROFIT	$540M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$315M
Other Expenses	$6M
Operating Expenses	$321M
Cost & Expenses	$1.0B
OPERATING INCOME	$219M
Interest Income	$0
Interest Expense	$14M
Other Income/Expenses	-$12M
INCOME BEFORE TAX	$207M
Income Tax Expense	$62M
Net Income from Continuing Ops	$157M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$157M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$157M
D&A	$26M
EBIT	$221M
EBITDA	$248M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$157M
Depreciation & Amortization	$26M
Stock-Based Compensation	$6M
Deferred Income Tax	$0
Other Non-Cash Items	-$29M
Change in Working Capital	$175M
OPERATING CASH FLOW	$336M
Capital Expenditure	-$66M
Acquisitions (Net)	-$200.0K
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$800.0K
NET CASH FROM INVESTING	-$65M
Net Debt Issuance	-$162M
Common Stock Repurchased	-$64M
Common Dividends Paid	-$54M
Other Financing Activities	$900.0K
NET CASH FROM FINANCING	-$279M
FREE CASH FLOW	$270M
Net Change in Cash	-$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$118M
Short-Term Investments	$0
Net Receivables	$465M
Inventory	$756M
Other Current Assets	$58M
TOTAL CURRENT ASSETS	$1.4B
PP&E (Net)	$669M
Goodwill	$1.8B
Intangible Assets	$425M
Long-Term Investments	$348M
Tax Assets	-$81M
Other Non-Current Assets	$81M
TOTAL NON-CURRENT ASSETS	$3.2B
TOTAL ASSETS	$4.6B
Account Payables	$451M
Short-Term Debt	$393M
Deferred Revenue	$0
Other Current Liabilities	$417M
TOTAL CURRENT LIABILITIES	$1.4B
Long-Term Debt	$1.1B
Deferred Revenue NC	-$80M
Deferred Tax Liabilities	$80M
Other Non-Current Liabilities	$392M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$3.0B
Common Stock	$1.1B
Additional Paid-In Capital	$0
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	-$514M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$12M
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$4.6B
Total Debt	$1.4B
Net Debt	$1.3B