PREVIEW: McCormick & Co shares dip; Q1 EPS, revenue seen rising slightly

Shares in spice and condiments co McCormick & Co MKC.N slip 0.3%; due to report fiscal Q1 results early on Tuesday

Wall St sees MKC reporting adj. EPS of $0.64 vs $0.63 in year-ago quarter on revenue of $1.61 bln vs $1.60 bln year-ago, according to LSEG

In last 8 quarters, EPS met or beat estimates every time while revenue met or beat just 5 times

In Jan, MKC forecast annual sales and profit below analyst estimates, on flat-to-low demand for its spices, condiments, especially in China, as well as higher marketing expenses.

MKC last traded at $79.90 vs median PT of $83.70, down from $84.50 two months ago, according to data compiled by LSEG, which shows 17 analyst ratings: 4 'strong buy,' 3 'buy,' 9 'hold' and 1 'sell'

Shares up ~4.9% YTD after rising 11.4% in 2024 vs a ~1.6% gain YTD for consumer staples index .SPLRCS, which rose ~12% in 2024