McCormick & Co Inc (NYSE:MKC)
$ 76.15 0.81 (1.08%) Market Cap: 20.44 Bil Enterprise Value: 24.49 Bil PE Ratio: 29.06 PB Ratio: 3.91 GF Score: 85/100
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Q4 2018 McCormick & Company Inc Earnings Call Transcript

Jan 24, 2019 / 01:00PM GMT
Release Date Price: $62.18 (-10.53%)
Kasey A. Jenkins
McCormick & Company, Incorporated - VP of IR

Good morning. This is Kasey Jenkins, Vice President of McCormick Investor Relations. Thank you for joining today's fourth quarter earnings call.

To accompany this call, we posted a set of slides at ir.mccormick.com. (Operator Instructions) We'll begin with remarks from Lawrence Kurzius, Chairman, President and CEO; and Mike Smith, Executive Vice President and CFO.

During our remarks, we will refer to certain non-GAAP financial measures. These include information in constant currency as well as adjusted gross profit, adjusted gross profit margin, adjusted operating income, adjusted income tax rate and adjusted earnings per share that exclude the impact of transaction and integration expenses related to the acquisition of our Frank's and French's brands, special charges and, for 2018, the net nonrecurring income tax benefit associated with the December 2017 U.S. tax reform legislation, which we refer to as the U.S. tax act. Reconciliations to the GAAP results are included in this morning's press release and slides.

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