With a 20% market share of the seasoning and spice market, McCormick and Company (MKC) is a global leader in the packaged foods industry. The company is four times as large as its next biggest competitor. The March to Freedom Funds owns a tiny position in the name and we would like to own more if the price is right. Since the company reported third quarter earnings on 9/28/2017, now seems like a good time to take another look at MKC. Q3 earnings per share came in at $1.12. This was 7 cents above estimates and 9% above last year's third quarter EPS. Revenue of $1.19 billion was 9.2% above last year's figure. Revenue was also a beat and came in $10 million above expectations. Below is a slide from the company's Q3 earnings presentation that breaks down sales in the quarter. All results I list in this article are in constant currency terms.
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