McCormick & Company, Incorporated reiterated earnings guidance for the fiscal year 2022. For the 2022 fiscal year, McCormick reiterated its financial outlook for sales, operating income and earnings per share. In 2022, the company expects to grow sales by 3% to 5% compared to 2021, which in constant currency is 4% to 6%.

The company expected sales growth to be driven by brand marketing, newproducts, category management and differentiated customer engagement, as well as pricing actions, which in conjunction with cost savings, are expected to offset anticipated inflationary pressures. Operating income in 2022 is expected to grow by 13% to 15% from $1.02 billion in 2021. The company projected 2022 earnings per share to be in the range of $3.07 to $3.12, compared to $2.80 of earnings per share in 2021.