Results from condiments maker McCormick (NYSE:MKC) left a sour taste, as numbers missed forecasts and the company lowered guidance.
Unfavourable exchange rate movements and a sub-par performance by its Indian business were among the reasons cited for the company forecasting that full-year earnings per share (EPS) would be at the lower end of the company's indicated range of US$3.47 to US$3.54.
In its latest quarter, foreign exchange head-winds effectively lopped 18 percentage points off the year-on-year sales comparison.
Post-tax profit tumbled to US$97.6mln from US$122.9mln the year before.
EPS fell to 85 cents, two below market forecasts and 10 cents below the previous year's number.