MKC
McCormick & Company, Incorporated68.27
-0.18-0.26%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
18.32BP/E (TTM)
23.70Basic EPS (TTM)
2.88Dividend Yield
0.03%Recent Filings
10-Q
Q3 FY2025 results
McCormick posted Q3 net sales of $1.7B, up 2.7% y/y from $1.7B, fueled by 1.2% volume gains and 0.6% pricing, though gross margin slipped to 37.4% from 38.7% amid tariff-hit commodity costs and capacity builds, offset by cost savings. Operating income edged up 0.8% y/y to $289M, with adjusted operating income (reconciled in MD&A) rising 1.8% y/y to $294M; diluted EPS held steady at $0.84, reconciling to 269M shares with minor anti-dilution from 3.4M out-of-money options. Consumer sales surged 3.8% y/y to $973M on Americas and EMEA strength, while Flavor Solutions grew 1.2% y/y to $752M via APAC momentum. Cash dipped to $95M, operating cash flow hit $420M YTD (down y/y from $463M), free cash flow $282M (derived); total debt stands at $3.9B, backed by a fresh $2B revolver at SOFR+1.125% with ample availability. The Jurado acquisition closed March 2025 for $38M cash, adding $3M goodwill and $3M intangibles over undisclosed life. Tariffs pose ongoing cost risks.
8-K
Q3 Sales Up, Margins Pressured
McCormick reported third-quarter fiscal 2025 net sales up 3% to $1.7 billion, with organic growth of 2% fueled by volume, though gross margins contracted 130 basis points amid rising commodity costs and tariffs. Adjusted operating income rose 2% to $294 million, driven by cost savings from the CCI program offsetting pressures. The company reaffirmed sales growth outlook but trimmed 2025 adjusted EPS guidance to $3.00-$3.05, citing trade uncertainties. Volume-led momentum persists.
8-K
McCormick boosts Mexico stake
McCormick signed a definitive agreement on August 21, 2025, to acquire an additional 25% stake in its McCormick de Mexico joint venture from Grupo Herdez for $750 million, boosting ownership to a controlling 75% and expected to close early in fiscal 2026. This move expands McCormick's condiments and sauces portfolio, lifting its net sales contribution from 14% to 22%, while tapping Mexico's high-growth market with $810 million in annual net sales from the venture. Accretion to adjusted EPS arrives in year one. Yet integration risks loom.
8-K
Strong Q2 sales, reaffirmed outlook
McCormick & Company reported strong Q2 fiscal 2025 results on June 26, with net sales up 1% to $1,660 million despite a 1% currency headwind, fueled by 2% organic growth from volume. Adjusted operating income climbed 10% to $259 million, thanks to cost savings from the CCI program offsetting higher commodities and tariffs, while Consumer sales rose 3% but Flavor Solutions dipped 1%. The company reaffirmed its 2025 outlook, projecting 3% to 5% adjusted operating income growth amid tariff mitigation efforts. Yet, special charges of $13 million signal ongoing streamlining.
10-Q
Q2 FY2025 results
McCormick's Q2 sales climbed 1.0% year-over-year to $1,659.5 million, fueled by 1.3% volume and mix gains across Consumer channels, though currency headwinds trimmed 0.6%; quarter-over-quarter, sales edged up 0.6% from Q1's $1,605.5 million (derived). Gross margin dipped to 37.5% from 37.7%, squeezed by commodity costs, yet operating income rose 5.0% to $245.8 million on SG&A efficiencies. Diluted EPS fell to $0.65 from $0.68, aligning with 269.4 million shares, while YTD EPS of $1.25 tracks 337.3 million net income over 269.5 million shares. Cash from operations slowed to $161.4 million YTD, with free cash flow at $75.9 million after $85.4 million capex (derived); total debt eased to $3,856.0 million, backed by a fresh $2.0 billion revolver expiring 2030 at SOFR plus 1.125%. The March 2025 Jurado buyout added $3.1 million goodwill and $2.7 million intangibles for $38.1 million cash. Tariffs on imports pose ongoing cost risks.
IPO
Employees
Sector
Industry
BYND
Beyond Meat, Inc.
1.10+0.06
CAG
ConAgra Brands, Inc.
17.74-0.20
CPB
The Campbell's Company
28.68+0.41
GIS
General Mills, Inc.
47.02-0.04
HAIN
The Hain Celestial Group, Inc.
1.11-0.06
HRL
Hormel Foods Corporation
23.66-0.34
KHC
The Kraft Heinz Company
24.68+0.18
MAMA
Mama's Creations, Inc.
13.77+0.19
MZTI
The Marzetti Company
171.69+1.68
SJM
The J.M. Smucker Company
99.70-1.98