Shares of McCormick & Company, Incorporated (NYSE:MKC) ended Friday session in red amid volatile trading. The shares closed down -2.19points or -2.23% at $95.86 with 1.35 million shares getting traded. Post opening the session at $95.70, the shares hit an intraday low of $95.10 and an intraday high of $96.53 and the price vacillated in this range throughout the day. The company has a market cap of $12.09 billion and the numbers of outstanding shares have been calculated to be 115.04 million shares.
McCormick & Company, Incorporated (MKC) announced that it will conduct a conference call and webcast of its Third Quarter 2016 financial results on Friday, September 30, 2016, at 8:00 a.m. Eastern time. Lawrence Kurzius, President & CEO; Mike Smith, Executive Vice President & CFO; and Joyce Brooks, Vice President Investor Relations, will be hosting the call.
What: McCormick & Company presentation of Third Quarter Fiscal 2016 Results
When: September 30, 2016, at 8:00 a.m. Eastern Time
How: Live over the Internet: Log onto the Web at ir.mccormick.com, click on “Webcast” and follow the directions to listen to the call.
If you are unable to attend the live webcast, the presentation will be archived on our web site at ir.mccormick.com. To listen to an audio replay, call 877-660-6853 in the United States or 201-612-7415 internationally. When prompted, enter the conference ID number 13643896. The replay will be available until 12:00 midnight Eastern time on October 21, 2016.
Shares of Hershey Co (NYSE:HSY) ended Friday session in red amid volatile trading. The shares closed down -0.53 points or -0.55% at $95.48 with 1.35 million shares getting traded. Post opening the session at $96.08, the shares hit an intraday low of $95.32 and an intraday high of $96.63 and the price vacillated in this range throughout the day. The company has a market cap of $20.05 billion and the numbers of outstanding shares have been calculated to be 152.57 million shares.
Hershey Co (HSY) on July 28, 2016 announced sales and earnings for the second quarter ended July 3, 2016. Consolidated net sales were $1,637.7 million compared with $1,578.8 million for the second quarter of 2015. Reported net income for the second quarter of 2016 was $146.0 million or $0.68 per share-diluted, compared with a net loss of $99.9 million or $0.47 per share-diluted for the comparable period of 2015.
“Second-quarter operating results were better than our estimates as North America and International sales sequentially improved, as expected, versus last quarter,” said John P. Bilbrey, Chairman, President and Chief Executive Officer, The Hershey Company. “Performance partially benefited from the timing of select merchandising and program net sales that occurred in the second quarter that were initially expected to ship in the third quarter. Non-seasonal candy, mint and gum (CMG) category growth progressed in the second quarter; however, given the amount of activity in the marketplace, category growth was less than what we anticipated. We’ve yet to experience consistent broad-based marketplace gains that are reflective of the attractive CMG category and Hershey’s competitive advantages. In the coming quarters we will begin to share the results of the work being performed that should benefit the company in the near and long term. Over the remainder of 2016, our CMG in-store merchandising, new products and consumer investment will be strong and should result in a sequential improvement in retail takeaway performance. Additionally, as we stated last quarter, the company continues to focus on its cost structure and estimates that full-year 2016 productivity and cost savings initiatives will be greater than our previous forecast, enabling the company to deliver on its adjusted earnings per share-diluted commitment. I’m also pleased that the Board of Directors approved a dividend increase of 6%. The company continues to generate steady free cash flow and has a strong balance sheet. This dividend increase reflects our confidence in Hershey’s marketplace position and long-term growth potential.”