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00:03McCormick reported higher fourth quarter sales, while higher costs continued to pressure
00:07profitability, according to the Wall Street Journal. The maker of spices and seasonings
00:13posted adjusted earnings of 86 cents per share on $1.85 billion in revenue for the quarter ended
00:19November 30th. Analysts expected adjusted earnings of 88 cents per share and revenue of $1.84 billion.
00:26Net income rose to $226.6 million from $215.2 million a year earlier. Sales increased 2.9%,
00:37driven by a 3.9% rise in the consumer segment and 1.4% growth in flavor solutions.
00:45CEO Brendan Foley said the company continues to face inflationary and cost pressures,
00:50but is relying on productivity initiatives and cost discipline to offset headwinds and support growth.
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