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McCormick

MKC Q2 2026 Earnings

Reported Mar 31, 2026 at 6:40 AM ET · SEC Source

Q2 26 EPS

$N/A

Q2 26 Revenue

N/A

vs S&P Since Q2 26

-18.1%

TRAILING MARKET

MKC -7.3% vs S&P +10.8%

Market Reaction

Did MKC Beat Earnings? Q2 2026 Results

McCormick & Co. Delivered a notably strong first quarter of fiscal 2026, posting adjusted EPS of $0.66 and revenue of $1.87 billion, clearing the consensus estimate of $1.79 billion by 4.77% and marking a 16.7% jump from a year ago. The primary engin… Read more McCormick & Co. Delivered a notably strong first quarter of fiscal 2026, posting adjusted EPS of $0.66 and revenue of $1.87 billion, clearing the consensus estimate of $1.79 billion by 4.77% and marking a 16.7% jump from a year ago. The primary engine behind that growth was McCormick's January 2026 acquisition of an additional 25% controlling interest in McCormick de Mexico, which alone contributed approximately 12.4 percentage points to the year-over-year revenue increase, with organic growth adding a further 1.2% and a favorable currency tailwind providing 3.1%. The Consumer segment led the way, with net sales climbing 24.5% to $1.15 billion, while Flavor Solutions grew a more modest 6.2% to $729.00 million. Adjusted operating margin expanded 30 basis points to 14.3%, supported by CCI cost savings and pricing actions. The company, which has drawn attention amid reports of potential talks with Unilever over a major food combination, reaffirmed its full-year outlook for net sales growth of 13% to 17% and adjusted EPS of $3.05 to $3.13.

Key Takeaways

  • • McCormick de Mexico acquisition contributed 12.4% to total net sales growth
  • • Pricing actions drove organic sales growth of 1.2%
  • • CCI (Comprehensive Continuous Improvement) program delivered cost savings
  • • Favorable foreign currency impact of 3.1% on net sales
  • • Adjusted gross profit margin expanded 100 basis points to 38.6%
  • • SG&A streamlining initiatives contributed to operating margin expansion

MKC Forward Guidance & Outlook

McCormick reaffirmed its fiscal 2026 outlook: net sales growth of 13% to 17% (12% to 16% constant currency), with 11% to 13% contribution from McCormick de Mexico acquisition and 1% to 3% organic sales growth. Adjusted operating income growth projected at 16% to 20% (15% to 19% constant currency). Adjusted EPS expected at $3.05 to $3.13, representing 2% to 5% growth (1% to 4% constant currency). The company expects foreign currency to favorably impact net sales, adjusted operating income, and adjusted EPS each by approximately 1%. Key headwinds include a higher tax rate of approximately 24% vs. 21.5% in 2025, higher net interest expense from the McCormick de Mexico transaction, and loss of income from unconsolidated operations following the acquisition. The company expects strong cash flow driven by profit and working capital initiatives and anticipates returning a significant portion of cash flow to shareholders through dividends.

24/7 Wall St

MKC YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

MKC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“We are pleased to begin the year with first quarter results that demonstrate the strength and resilience of our business. We delivered strong growth in sales, adjusted operating income, and adjusted earnings per share, supported by the McCormick de Mexico acquisition and organic growth across both Consumer and Flavor Solutions. Strong sales, acquisition accretion, and disciplined cost management enabled margin expansion as we continued to invest for future growth.”

— Brendan M. Foley, Q2 2026 Earnings Press Release

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