McCormick CFO Says 2023 Gross Margin Projected Between 50 To 100 BPs Higher Than 2022 Vs Prior Outlook Of 25 To 75 BPs
Portfolio Pulse from Benzinga Newsdesk
McCormick's CFO has revised the company's 2023 gross margin projection to be between 50 to 100 basis points higher than 2022, up from the previous outlook of 25 to 75 basis points.
June 29, 2023 | 12:44 pm
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McCormick's revised gross margin outlook for 2023 could indicate stronger profitability, potentially leading to a positive impact on the company's stock.
Gross margin is a key profitability indicator. McCormick's revised outlook suggests the company expects to improve its cost efficiency or increase its selling prices, which could lead to higher profits and potentially a positive impact on the stock price.
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