McCormick and Co. Inc. reported strong second-quarter results Thursday that beat analysts' expectations, as new products and expanded distribution helped boost sales 5 percent.
The Sparks-based spice and flavorings maker said sales increased to $1.11 billion for the three months that ended May 31.
McCormick's profit rose to $100 million, or 79 cents per share, compared with $93.8 million, or 73 cents per share, in the second quarter of 2016. Wall Street expected earnings of 77 cents per share, according to Zacks Investment Research.
Despite the stronger-than-expected performance, McCormick's shares skidded nearly 3.5 percent in Thursday trading to close at $95.36 each...