Filing Flows › McCormick (MKC) › Q4 FY24
McCormick (MKC) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Jan 23, 2025
McCormick (MKC) reported revenue of $1.8B for the fourth quarter fiscal 2024 (Q4 FY24), +3% from a year earlier and +7% from the quarter before. Operating margin was 17.0%, net earnings $215M (12.0% of revenue).
McCormick, Q4 FY24: revenue $1.8B (+3% year over year), operating margin 17.0%, net earnings $215M, operating cash flow $459M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.8B | +7% | +3% |
| Gross profit | $722M | +11% | +3% |
| Operating profit | $306M | +7% | +3% |
| Net earnings | $215M | -4% | -2% |
| Operating cash flow | $459M | +184% | -21% |
| Free cash flow | $373M | +263% | -25% |
What changed
Revenue was $1.8B in Q4 FY24, up 3% year over year and up 7% from the previous quarter.
Gross margin was 40.2%, up 0.2 points from a year earlier. Operating profit was $0.31B, a 17.0% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 20% reached operating profit, above the 17% margin then. Operating expenses grew 3% against revenue growth of 3%. Net earnings were $0.22B, down 2% year over year ($0.20B including minority interests, which bore $0.01B of losses). The effective tax rate was 25.0%.
Operating cash flow was $0.46B (down 21% year over year), 227% of net income including minority interests. Non-cash charges added back $0.05B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.20B. Capital expenditures of $0.09B left free cash flow of $0.37B.
Questions
What was McCormick's revenue in the fourth quarter fiscal 2024?
McCormick (MKC) reported revenue of $1.8B for the fourth quarter fiscal 2024 (Q4 FY24), +3% from a year earlier and +7% from the quarter before.
Was McCormick profitable in the fourth quarter fiscal 2024?
Operating profit was $306M (17.0% of revenue) and net earnings $215M.
Source: McCormick 10-K on SEC EDGAR.