McCormick & Company, Incorporated is a global leader in the manufacture, marketing, and distribution of a wide array of flavorful products, including ...
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Est. EPS $0.75
Est. EPS $3.09 · Revenue $7.91B · 7 analysts
Est. EPS $0.67 · Revenue $1.97B · 4 analysts
Est. EPS $0.79 · Revenue $1.98B · 2 analysts
$1.86 per share
$1.86 per share
| Metric | Latest | YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength. | QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes. |
|---|---|---|---|
| RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three). | $6.8B | +1.7% | +3.3% |
| Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day. | $789.4M | +0.1% | -84.2% |
| Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials. | +37.9% | -1.7% | +6.2% |
| Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on). | +16.0% | +1.2% | +5.9% |
| Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales. | +11.5% | -1.6% | -84.7% |
| Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock. | $740.4M | +14.4% | +1732.1% |
| FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine. | +10.8% | +12.5% | +1672.7% |
| Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe. | 69.7% | -18.2% | -0.0% |
| Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking. | 0.70x | -5.9% | +3.0% |
| Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground. | $13.2B | +1.0% | +0.8% |
| Metric | Annual (A vs E) | Annual Surprise | Quarter (A vs E) | Quarter Surprise |
|---|---|---|---|---|
| EPS Surprise | 2.93 vs 3.02 | -2.8% | 0.56 vs 0.76 | -25.9% |
| Revenue Surprise | $6.8B vs $6.8B | +0.1% | $1.9B vs $2.0B | -2.1% |
| Date | Executive | Title | Security | Side | Shares | Price |
|---|---|---|---|---|---|---|
| Feb 15, 2027 | GOMEZ SADES TABATA LORENA | officer: Chief Growth & Mktg Officer | Restricted Stock Units | — | 8,656 | — |
| Feb 15, 2027 | Giese Julie | officer: V.P. & Controller | Restricted Stock Units | — | 1,955 | — |
| Sep 2, 2026 | Tapiero Jacques | director | Phantom Stock | A | 186 | — |
| Aug 24, 2026 | Piper Sarah | officer: Chief Human Relations Officer | Phantom Stock | A | 45 | — |
| Aug 24, 2026 | Foley Brendan M | director, officer: Chairman, President & CEO | Phantom Stock | A | 45 | — |
Faten Freiha Good morning. This is Faten Freiha, VP of Investor Relations. Thank you for joining today's second quarter earnings call. To accompany this call, we've posted a set of slides on our IR website, ir.mccormick.com. With me this morning are Brendan Foley, Chairman, President, and CEO, and Marcos Gabriel, Executive Vice President and CFO. During this call, we will refer to certain non-GAAP financial measures. The nature of those non-GAAP financial measures and the related reconciliations to the GAAP results are included in this morning's press release and slides. In our comments, certain percentages are rounded. Please refer to our presentation for complete information. Today's presentation contains projections and other forward-looking statements. Actual results could differ materially from those projected. The company undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or other factors. Please refer to our forward-looking statement on slide 2 for more information. I will now turn the discussion over to Brendan. Brendan Foley Good morning, everyone, and thank you for joining us. Our strong second quarter performance demonstrates the underlying strength and resilience of our business. We delivered robust sales growth, expanded underlying margins, and increased earnings. Our total results were supported by the McCormick Mexico transaction. Organic growth was driven by the accelerated momentum in Flavor Solutions, with growth across flavors and branded food service customers, highlighting the benefits of our diversified flavor-focused portfolio. Looking ahead, we expect to sustain the momentum in Flavor Solutions and increase reinvestment to improve Consumer volume trends in organic sales. Our enhanced margin profile and operational rigor position us well to deliver a virtuous cycle of growth through continued investment in our brands, capabilities, and innovation that drive long-term value creation. Our fundamentals remain strong, supported by our advantaged categories and disciplined execution, giving us confidence in our ability to deliver on our 2026 outlook. Turning now to our results on slide four. In the second quarter, total sales grew by 14% in constant currency, reflecting acquisition contribution from McCormick Mexico of 12% and organic sales growth of 2%. As expected, organic growth was driven by pricing. In global Consumer, volumes were impacted by shifting demand patterns and increased price gaps in the Americas. Looking to the second half, we are implementing targeted actions to strengthen performance. We expect sequential volume improvement in the third quarter and volume growth in the fourth quarter, supported by refined revenue growth management initiatives, expanded distribution, targeted value-focused marketing, and innovation. In EMEA and Asia Pacific, we delivered sustained volume growth during the quarter, and we expect that …
| Name | Title | Compensation | Gender | Year Born | Status |
|---|---|---|---|---|---|
Brendan Foley | President, Chief Executive Officer & Chairman | USD 2,231,476 | Male | 1966 | Active |
Jeffery D. Schwartz | Vice President, General Counsel & Corporate Secretary | USD 1,095,731 | Male | 1970 | Active |
Marcos Mendes Gabriel | Executive Vice President & Chief Financial Officer | USD 1,039,243 | Male | 1972 | Active |
Andrew Foust | Chief Integration Officer | USD 1,020,313 | Male | 1981 | Active |
Sarah Piper | Chief Human Relations Officer | USD 926,914 | Female | 1977 | Active |
Ana Sanchez | President of Europe & Middle East and Africa (EMEA) | — | Female | 1976 | Active |
Josh Chou | Chief Supply Chain Officer | — | Male | — | Active |
Guy Peri | Chief Information & Digital Officer | — | Male | — | Active |
Anju Rao | Chief Science Officer | — | Female | — | Active |
Faten Freiha | Vice President of Investor Relations | — | Female | — | Active |
Tabata L. Gomez | Chief Growth & Marketing Officer | — | Female | 1981 | Active |
HUNT VALLEY, Md., Aug. 20, 2026 /PRNewswire/ -- McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, will present at the Barclays 19th Annual Global Consumer Conference at 10:30 a.m.
McCormick & Company is rated "Buy," trading at a 19% discount to fair value, with visible earnings durability and a 40-year dividend growth streak. Q2 2026 results beat expectations, driven by the McCormick de México acquisition, organic growth, and margin expansion from pricing and supply chain savings. The pending $44.8 billion Unilever Foods acquisition could add top brands, boost distribution, and drive mid- to high-teens EPS accretion by year 3 post-close.
McCormick & Company Incorporated remains a Buy, with valuation offering a solid margin of safety and re-rating potential post-Unilever deal. Q2 delivered 16.9% YoY revenue growth, driven by the McCormick de Mexico acquisition and organic pricing, reaffirming 2026 guidance for sales and margin expansion. Risks include higher leverage post-deal, potential selling pressure from Unilever shareholders, and persistent consumer trade-downs to private labels impacting legacy brands.
Unilever has agreed to protect employment terms of workers in its European and British food business for two years after the planned 2027 completion of its $65 billion merger of the unit with U.S. spice maker McCormick , according to a memo seen by Reuters.
The maker of spices and seasonings said the London listing would come in addition to its current listing on the New York Stock Exchange.
