Kasey. Thanks everyone. for morning Thank Good us. you, joining
year, to share quarter margin strong first growth significant Our as the operating delivering well expansion. income were start great earnings as our sales, and per results
are foodservice. and growth French’s through Frank’s platform on and first year. we these beverages. the quarter on our Slide the seen we additional with driven engagement across and regions made low business. strong our execution McCormick continue in condiments around pleased been and have of Solutions all world is employees across & Flavor some as an segments portfolio confident, progress on results is our the while food have categories, go to will proving flavors both successful RedHot advantage our impact as strategies drive and across are business and of results X, they has performance McCormick’s growing of of portfolio, Further Our our and we branded flavoring margin with expanding portfolio they Among highlights the sauces
are new products all of also region. restaurant consumer with regions. underlying we every in We our our In to win continuing to continue customers with segment, grow our business in
demand us the grow that and of meet fully We the flavor the to to are breadth for world reach around position confident portfolio and our continues business. our
me go let provide the to Mike into on and quarter to results first Now before as guidance. some who more our of comments well depth Slide turning performance it business more update end XXXX X, our in as financial on over quarter will detail
said deliver and strategies February, CAGNY XXXX. we in we earnings our to results have our strong positioned in As on at in are well year-end call and in confidence January
with segment nearly both margin incremental in growth beginning XX%. double-digit first Giotti currency The we our growth, we business consumer sales growth, currency, sales our constant are long-term for with In contributing XX% Foods acquisitions, favorable the XX% benefit XX% contributing X% all of grew results strong segment regions. products Base total incremental constant foreign from with three RB for growth. a sale by contributed sales from Solutions from across XX% Company grew across Incremental currency. acquisitions new segments XX%. much In each Giotti, smaller first are sales Starting currency for to Foods, in the RB and sales led EPS growth, through three sales and drivers grew and performance constant quarter can our extent contributed to which growth, factors. with see and operating top-line strong this XX% of You growth. sales our come with profit grew in Foods sales RB a Flavor quarter,
segments In by to drove first sales, operating Comprehensive adjusted our bottom-line, Frank’s the portfolio of and operating operating basis points We the income our growth adjusted addition Improvement our and with XX% margin growth cost including income the constant in and first expansion our share a in value-added basis earnings adjusted XXX quarter’s our adjusted higher adjusted on quarter Both currency of focus expansion was additional and first adjusted addition margin. savings margin operating XXXX. $X CCI our adjusted per our At income to in profit XX% top-line income than realization the $X.XX contributed program expanded and points. triple-digit products operating growth, double-digit led French’s. Continuous of more quarter grew shift operating the higher
to higher as tax the as Our lower acquisition from RB a Foods higher strong partly adjusted growth by well in drove shares income rate interest expense and operating this related offset debt outstanding. increase
with Our follow pattern, in the product sales most the quarter is categories. first our generally of lightest seasonal
our for benefits. strong in and We do unchanged. have expectations have performance guidance provided however now XXXX currency rates and results we we recognized impact and discrete and greater favorable remains line with the strong from expect Our are tax sales our outlook
and are shortly, Mike our EPS As we discuss guidance adjusted raising sales for accordingly. will
Frank’s our to business I begin French’s update and let’s Slide like with our turn on and to portfolio Now X. would
and be the from Xst, systems. this with We French’s. early with now we to control operations. results over our and our have to our Frank’s completed it of the On Benckiser transition agreement continue progress with earlier February and month pleased we full cut services successfully Reckitt We
of to We by to synergies million be realizing XXXX. cost achieve $XX the on-track continue majority
Frank's and and with our French's quarter reductions first planned January at results activities, pacing line promotional plans. French's both be which earnings earnings call, mentioned ahead impacted are our said, synergies owners and by that Consumption of first in In and quarter to we mentioned are January With the expectations. the support our our previous call. continue Frank's we XXXX As Hot XXXX, trade our on Red of
will We a are on I make related about plans to our some great our with We're and brands grilling of version impact shared month, of off starting to would growth I At like to the these French's. excited last reiterate a programs, season. Frank's we opportunity planned CAGNY start. summarized And the and them.
We trial the there awareness, one Hot. upside are increasing fuel household for we Frank's remains sauce, Frank's penetration. drive Despite, number believe being significant Red to hot in in and are
utilizing and are a regional We already will increasing Frank's category management to awareness strengthen campaign indexes shelf, media and under behind proven irreverent store build programs on our we the points. distribution trial. working
acceptance key merchandizing. already support customers to a term category plan Mustard working category French's drive and family launching flavors shelf of efforts reinforces French's on distribution We pricing with exciting innovation the underway. media. an by management and realign seasoning, with customers. Frank's applying had as too and is quality increase early that great pipeline preferred shelf, had have we expand of trusted wins a developing plans beyond almost product of levels of with Reenergizing promotional we already as recipe flavor core We and being consumer campaign line of mixes and improve new increased share leadership was have favorite dry which brand the new some also There into concepts e-commerce well. presence to will no flavor our exciting new too. this dish. a refrigerated building roots focus We're e-commerce We're and pure longer we're liquid and
ability drive increase for will the go to you bun McCormick's with We will mustard flavor as innovation proven trends we consumers. recipe better and beyond with and reframe and
have will including launch the of this the of And portfolio our will leverage network We across we of a we're summer. seen early the model successes and markets. and ever several promotional food brands full Operators. grilling and internationally, across scale campaign stronger service biggest global McCormick our in into our French's the all go-to-market portfolio integrating Frank's With leverage for we
We are to now. well for and on capitalize savings the cost growth opportunities positioned
Our Consumer our significant grew segment. XX% will confident that continues of currency and powerful constant nearly We only to combination value this sales strengthen. incremental acquisition a are sales enthusiasm In brands organization in the contributing the with business driven of In from was strong impact with particularly and contributing brands X% across deliver and new shareholder XX% in growth. RB region. large which growth growth base contributed Food's RB Americas, XX% our the Foods every the for by product growth
earnings seasonings Our underlying category believe volume we Americas' both higher indicates our on consumer channels undershipped trade and grew inventory almost the business to pricing January and branded which growth reduced the and were a control along X% with for data scanner grocery, to McCormick through we grocery IRI convert spices decision large Outside and to U.S. promotional and a due of reductions. In consumption sales mix X%. label, to actions multi-outlet merchandizing McCormick’s private on X%. label discussed retailers our related over and sales both call
position as and the we growth with spices spice continue seasonings underway in in to our initiatives continue well room and we of further us and good the more environment and in grow. another areas in and We confident brands have share branded to customers have the e-commerce dynamic see performance. decision we Hispanic market growth as again U.S. it seasoning to strong know and remain and East While France category unmeasured markets the trajectory including label. the to region to branded long-term by growth this Africa, performance sales. in Overall, our private led label and had growth strong club, growth our The In Middle portfolio private EMEA portfolio. to based Europe, work remains grocery which optimize continue of broad in was had growth channels We across branded our growth. we drove
spices successful. products organic year last been loss of dessert Our and in homemade France has and herbs very core
XX% organic our and higher sale a rate Vahine on main Our both brands. Ducros approximately of was than competitor
sales our has the on capability. products. well into growth. to the new extension momentum brand China consumer contributed by category innovation we segment are on driven In food France also are our capitalize growth seasoning. a spices e-commerce nicely marketing, and continuing Across and fast has ethnic in of our New Pacific XXXX, growth. region, and also investments building to as of Thai growth their course led India in we through drive continued capability segment, Consumer trend additional Asia Our and differentiating analytical Kitchen growing brands strong Year Chinese management in as strong the promotion to In
pipeline in have a consumer seen being and introduced new X. XXXX innovation of starting on as Slide global robust products We
in and new strengthening and our spices the this seasoning ideas usage will launch leadership digitally with and of McCormick U.S. our innovation information in own the and This labels allowing inspiration. contemporizes packaging from graphics. We to to connect through scanable graphics of update red U.S. EMEA. In the look connected our be the are we ingredient will consumer digitally to transparency sites cap immediately shelf everything at and smartphones their for through on sourcing year,
brands Our features France of Schwartz closure. and first brand major in launching change. inside new and the a structural freshness the closure packaging prefer use-after-use. bottle the spices herbs It quality glass will Ducros also be and utilizing and design design modern while reinforces that functional feel Consumers initiative, and a in of transparency the UK a and choice our new
we We deliver are U.S., be looking following success to and the both launch flavors. are organic ways added favorite more France, creative explore we make convenience our introducing are expanding product to dish. blends our to and and and becoming Poland black are the easy and organic Consumers any in new their in varieties. this range flavors product UK launching pepper and Seasoning further. will and In even popular dishes new we flare will for
packaging or for flavors in experimenting sizes looking consumers Additionally, to in are of already with to formats right the something to out they new risk find take use. value the
spices into and meet and in UK we Some approach few In our fresh line to a re-launch and strengthening heat the line purpose the these a segmented China, in by range our seasoning U.S. of in Club herbs examples of include items of Canada blend. ingredients and flavor Grinders. our launches range with of signature pepper we innovative to of blend the House demand combine black a a With are all similar a level. pepper, are of introducing simple
as to Rubs. in on for While Grillmates McCormick seasonings U.S., and combine Gourmet one in launching of in vegetables And value launching our Flavor re-sealable Australia, larger meats seasoning pouches in a trade meal. mixes we small well will dish with we the size trial sizes bake are Forecast convenient as be popular
We are direct-to-consumer. to with drive e-commerce pure brick also globally continuing through mortar and customers play across growth and
items of retailer growth in to resources further and launch and quarter content, following Tmall. on programs the develop expand and We channel. this double-digit are investments had to continuing China’s direct-to-consumer to to strong support drive the make storefront e-commerce and acceleration We
for We which will one as this are soon the seasoning on cooker storefront. products be designing pot such platform rice available
and at As XX. the Slide announced we recent shown CAGNY conference on
Flavor We a reiterate segment culinary industrial our today. change like this business. to Flavor Solutions are reintroducing and would for McCormick at the Solutions flavor points inspired I is key
ingredients We preferred for have flavor solutions deep of delivers that natural consumer food technology and and of the consumer understanding our for experience real customers. leading
not We bulk or we of to a the one today. are and global the flavor commodity are herb top spice business, food suppliers industry
to development apart. flavor us approach culinary sets Our
deliver that are teams. world meet and a executive of have They nutritionists class global mixologists unique superior experiences. customers at requirements global culinary team the and with and and excel translating We flavor chefs, prototypes and trends innovation who culinary research customers’ into differentiated closely our
expertise eating deep Solutions food Today’s segment real clean. our experience flavor that to Flavor flavor resonate our of and complex, produces a at real of of with consumers. a authenticity superior all authentic, consumer central Solutions and beverage, and our success. consumers delivering and experience. food with innovation and science the natural transparency iconic creating is Our Starting Flavor combines are beverage natural McCormick with art demanding the that’s Flavor of and development
our provides Solutions the customer solutions deliver results segment Flavor simple Our to transparent needs.
Because We to quest iconic approach the and and natural we platform to profile work customers and the us sacrificing with to to that routed solve the that built sugar, these product winning ingredients MSG, artificial The food or expertise issues clean in reduce eliminate to our ingredients. sodium, them enables of in is continue technology their from products. fat their side-by-side science proprietary help without successful. makes our have flavor our
really clean clean does us, mean flavor. For flavor
differentiator collaborate. and that challenges promise also for the in brand and to key delivers reason It Solutions. is against that an understanding these Whether requires goals customer’s Innovation focus the exceptional products really Our global experience. customer a both of the growth collaboration strength on our deep a intimacy ability our is customers Flavor significant unique driver. mid-tier for customer, with ensuring best-in-class or new partnering is are
in sales new currency flavors we in XX%. Solutions incremental sales products and first Flavor segment Giotti constant grew Foods So the RB XX% increased Americas, In contributing with the from quarter and with of sales continue service food Asia-Pacific products and continued In new snack our promotional momentum particularly of to customers Mexico EMEA with service win seasonings with or activities and through growth. branded and our restaurants. regions, we quick
margin and continue business. We our of are optimize and flavors margin the to portfolio, continuing insulated Flavor higher increasing to and portfolio categories refine our in technically of our more lower sales migration value-added will segment, Across exiting our Solutions XXXX.
America. up against have this with results in North first strategy We realized sales our flavor further quarter, double-digits in already
first Beyond profit our strategies results. to in on evident we quarter growth, is drive continue our to sales will focus as realization
Now to I XX. on news some would recent like Slide highlight
also we're people, and for our in is the results, performance evident financial planet. communities our just doing Our not thing right
for sustainability, on Economic we XXXX Food row, a Sustainability second XXX Davos leader year Sustainable were one ranked the the at on Products companies. Most inaugural We number been Index in recognized recognized and Company Barron's as the Global the named Forum have February, in a World also in
one values. culture along great Keeping of our shared embodies our our for people their power McCormick in employees with marketplace. our is commitment remaining and high-performance contributions and of work principle respect place in competitive our routed priorities the to Our to a
details the bonus financial but Act Mike hourly we in a to on sales flavor. wage results some for U.S. a the our the At adjustments going quarter to financial is and our over Tax before portion it the our XX. the I summary of Slide guidance, him, of majority let turn demand me for consumer on rising provide $X,XXX such As of into benefit more a now employees. investing U.S. of the on provide growth, are for few of is comments foundation the
combined strong work effective transparency the year. with drivers drive consumers strategies with advantaged ingredients demand sourcing well be convenience the fuel drive and flavors, focus an and which around food. to continues We're for on as will aligned go resources results to growth natural as in balancing purchase interest with With greater increased higher margins. quality category to are bolder with lower interest, We our through flavor our global this and as efforts and such fresh emerging execution increased the against sales we costs build to of our as for
Our first across were our quarter results to financial start year. the strong consumer and a segment Solutions both Flavor
strong year the for positioned and to and driving Mike. Around for We have efforts it another well employees their deliver in and Thank it success engagement. to them our attention and momentum are are thank confidence my your you and now over in I year XXXX. pleasure is McCormick for fiscal world, their outlook turn to