Hot sauce maker McCormick raised its annual earnings forecast on Tuesday after posting better-than-expected third-quarter results, banking on consumers choosing to make meals at home to curb discretionary spending amid sticky inflation.

McCormick’s stock edged higher Tuesday, after the spices and flavor company beat fiscal third-quarter profit expectations and raised its full-year outlook, as volume increased for the first time in about three years.

Key Takeaways McCormick & Co.'s earnings and revenue exceeded forecasts on its product mix and cost savings.Sales were down slightly as demand slowed in the Americas and Asia-Pacific region.Adjusted operating income gained on higher gross margin and lower expenses.