McCormick & Co.’s stock price surged more than 5 percent Thursday after the company reported sales and operating results for its third quarter that exceeded analysts’ expectations.
The Sparks-based spice company’s shares were up almost 5.4 percent to $101 each in trading Thursday.
McCormick’s actual earnings dropped in its third quarter due to costs related to its $4.2 billion acquisition of the maker of Frank’s RedHot sauce and French’s mustard.
McCormick earned $108.2 million in the three months ended Aug. 31, down from $127.7 million in the same period last year. Per-share earnings dipped to 85 cents from $1.
But Wall Street focused on the operating results,...