UPDATE 1-McCormick Q1 results beat estimates, sees weak Q2

* Q1 EPS $0.51 vs est $0.48

* Revenue beats estimates

* Sees Q2 EPS $0.42-$0.45 vs est $0.47

* Backs FY 2010 EPS view

March 25 (BestGrowthStock) – McCormick & Co (MKC.N: ) posted a
quarterly profit that beat analysts’ estimates, helped by a
favorable sales mix and cost savings, but the spice maker
forecast a weak second quarter.

For the second quarter, McCormick sees earnings of 42 cents
a share to 45 cents a share.

Analysts on average were expecting earnings of 47 cents a
share, according to Thomson Reuters I/B/E/S.

The company also backed its fiscal 2010 earnings view of
$2.49 a share to $2.54 a share.

McCormick, which sells spices, seasonings and food
coloring, earned $67.9 million, or 51 cents a share for the
first quarter ended Feb. 28, compared with $57.7 million, or 44
cents a share, a year earlier.

Analysts were expecting earnings of 48 cents a share.

Revenue rose 6 percent to $764.5 million, topping analysts’
estimates of $760.7 million.

Sparks, Maryland-based McCormick shares closed at $39.37
Wednesday on the New York Stock Exchange.

Stock Market Trading
(Reporting by Renju Jose in Bangalore; Editing by Ratul Ray
Chaudhuri)

UPDATE 1-McCormick Q1 results beat estimates, sees weak Q2