shares of mccormick  co inc mkc rose 13 in premarket trading tuesday after the flavor and spices company reported fiscal firstquarter profit that declined but beat expectations as sales rose to a record amid strength in the flavor business and as pricing increases offset a decline in volume net income for the quarter to feb 28 fell to 1391 million or 52 cents a share from 1549 million or 57 cents a share in the yearago period excluding nonrecurring items adjusted earnings per share of 59 cents beat the factset consensus of 50 cents sales grew 28 to 157 billion above the factset consensus of 155 billion as consumer segment sales fell 18 to 9095 million and flavor solutions sales jumped 100 to 6560 million when excluding the impact of currency fluctuations sales growth reflected an 11 increase in pricing to offset a 2 decline in volume which resulted from the divesting of the kitchen basics business lower sales to china given covidrelated disruptions and from the exit of the consumer business in russia gross margin contracted to 360 from 368 as higher cost inflation and other supply chain costs were partially offset by higher prices and cost savings for fiscal 2023 the company expects adjusted eps of 256 to 261 which surrounds the factset consensus of 257 the stock has dropped 110 over the past three months through monday while the sp 500 spx has gained 51