BUZZ-Spice maker McCormick dips as annual results forecast below estimates

Shares of hot sauce maker McCormick MKC.N down ~2% at $71.99 premarket

Co forecasts annual sales and profit below estimates owing to weaker demand, increased marketing expenses and unfavorable impact of foreign currency rates

Expects annual net sales to be flat or grow as much as 2% vs analysts' estimates of 2.4% rise - data compiled by LSEG

Sees FY25 adj. earnings per share between $3.03 and $3.08 vs estimates of $3.11

However, MKC posts Q4 sales of $1.80 bln vs estimates of $1.77 bln

Logs quarterly adj. profit of 80 cents per share vs estimates of 77 cents per share

MKC rose about 11% in 2024