Many businesses find niches that they can dominate, and McCormick (NYSE: MKC) has made itself a giant in the spice industry. Not only does the company provide bottles of popular spices to consumers in supermarkets and other grocery locations, but it also has industrial customers to which it sells a wide variety of spice products as well.
Coming into Thursday’s fiscal second-quarter financial report, McCormick investors were looking for relatively modest growth in sales and profit from the spice maker. The company managed to do better than those expectations with healthier gains, and investors liked what they saw in terms of future guidance as well. Let’s take a closer look at McCormick to see how it did and what its future holds.