McCormick Reports Q3 2026 Earnings with Strong Sales Growth
McCormick (MKC) reported third-quarter earnings for fiscal year 2026, showing strong performance driven by the acquisition of McCormick de Mexico and organic growth. Net sales reached $2,024.8 million, up 17.4%, with adjusted diluted EPS at $0.86, a modest increase of 1.2%. The company's gross margin expanded to 39.3% due to acquisition benefits and productivity improvements. The Consumer segment saw organic sales growth in EMEA (5%) and APAC (4.4%), while the Americas declined slightly (-0.3%). Flavor Solutions experienced a 3% increase, largely from volume gains in Asia Pacific. Management raised full-year cost inflation guidance to 6-7%, citing higher commodity and freight costs. Despite challenges like packaging supply constraints and macroeconomic pressures affecting consumer demand, McCormick remains optimistic about its long-term outlook, including $600 million in annual synergies post-Unilever Foods acquisition.
Tickers: $MKC
Topics: acquisition_impact financial_results guidance organic_growth