McCormick & Company, Incorporated (NYSE:MKC) pre-announced softer Q3/22 results and cut its full 2022-year guidance.
Revenue is expected to grow approximately 3% year-over-year in Q3. In constant currency, the increase is expected to be around 6% driven by growth in both the Consumer and Flavor Solutions segments.
Given growing signs of changing consumer behaviors and deteriorating demand across several categories in response to high prices, analysts at Deutsche Bank expect fundamental skepticism/caution across CPG will likely continue to build over the coming months.