McCormick (MKC) Q1 2019 Earnings Conference Call Transcript
Logo of jester cap with thought bubble with words 'Fool Transcripts' below it
Logo of jester cap with thought bubble with words 'Fool Transcripts' below it

Image source: The Motley Fool.

McCormick (NYSE: MKC)
Q1 2019 Earnings Conference Call
March 26, 2019 8:00 a.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:

Kasey Jenkins -- Vice President of Investor Relations

Good morning. This is Kasey Jenkins, vice president of McCormick investor relations. Thank you for joining today's first-quarter earnings call. To accompany this call, we posted a set of slides at ir.mccormick.com.

[Operator instructions] We'll begin with remarks from Lawrence Kurzius, chairman, president, and CEO; and Mike Smith, executive vice president, and CFO. During our remarks, we will refer to certain non-GAAP financial measures. These include information in constant currency as well as adjusted operating income, adjusted income tax rate and adjusted earnings per share that exclude the impact of special charges and for 2018, transaction and integration expenses related to the acquisition of our Frank's and French's brands as well as the net nonrecurring income tax benefit associated with the December 2017 U.S. tax reform legislation.

More From The Motley Fool

Reconciliations to the GAAP results are included in this morning's press release and slides. In our comments, certain percentages are rounded. Please refer to our presentation, which includes the complete information. In addition, please note that all comparisons discussed today, both for results and outlook, are calculated from a 2018 date that had been recast for the two accounting standard updates we adopted on a retrospective basis in the first quarter of 2019 as well as for certain other reclassifications noted in this morning's first-quarter results press release.

Please refer to the recast 2018 financials section of the press release and the Form 8-K we furnished on March 11 for further detail as well as the filing of our Form 10-Q later today, which reflects all the changes to our previously reported 2018 results and the historical financial information that has been recast. As a reminder, today's presentation contains projections and other forward-looking statements. Actual results could differ materially from those projected. The company undertakes no obligation to update or revise publicly any forward-looking statement, whether because of new information, future events or other factors.