NYSE: MKC
MCCORMICK & CO INCCIK 0000063754 · SIC 2090 · Food Preparations
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revenue $1.94B, net income $150.1M. McCormick announces Unilever Foods merger, diluting shareholders to 35% stake
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McCormick reports Q2 2026 earnings, reaffirms outlook, updates Unilever Foods integration
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McCormick appoints former AstraZeneca digital chief Cindy Hoots to Board
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McCormick secures $2B term loan, reduces bridge facility for up to $15.7B Unilever foods acquisition
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McCormick & Co. offers unsecured senior notes; net proceeds $500M, terms preliminary
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Latest financial statements
From 10-Q filed Jun 25, 2026 (period ending May 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Income Statement (Unaudited)
(in millions except per share amounts)
| Description | Three months ended May 31, 2026 | Three months ended May 31, 2025 | Six months ended May 31, 2026 | Six months ended May 31, 2025 |
|---|---|---|---|---|
| Net sales | 1,936.6 | 1,659.5 | 3,810.5 | 3,265.0 |
| Cost of goods sold | 1,158.4 | 1,036.7 | 2,323.4 | 2,038.2 |
| Gross profit | 778.2 | 622.8 | 1,487.1 | 1,226.8 |
| Selling, general and administrative expense | 441.8 | 364.2 | 898.1 | 743.0 |
| Special charges | 60.0 | 12.8 | 85.1 | 12.8 |
| Operating income | 276.4 | 245.8 | 503.9 | 471.0 |
| Interest expense | 62.7 | 51.0 | 110.0 | 99.5 |
| Other income, net | 6.5 | 9.8 | 11.3 | 19.6 |
| Income from consolidated operations before income taxes | 220.2 | 204.6 | 405.2 | 391.1 |
| Income tax expense | 63.5 | 49.3 | 112.2 | 90.9 |
| Net income from consolidated operations | 156.7 | 155.3 | 293.0 | 300.2 |
| Income from unconsolidated operations | 3.5 | 20.7 | 889.5 | 39.2 |
| Net income | 160.2 | 176.0 | 1,182.5 | 339.4 |
| Net income attributable to noncontrolling interests | 10.1 | 1.0 | 16.2 | 2.1 |
| Net income attributable to McCormick & Company | 150.1 | 175.0 | 1,166.3 | 337.3 |
| Earnings per share basic | 0.56 | 0.65 | 4.34 | 1.26 |
| Earnings per share diluted | 0.56 | 0.65 | 4.33 | 1.25 |
| Average shares outstanding basic | 269.2 | 268.6 | 269.0 | 268.5 |
| Average shares outstanding diluted | 269.2 | 269.4 | 269.3 | 269.5 |
| Cash dividends paid per share voting and non-voting | 0.48 | 0.45 | 0.96 | 0.90 |
Condensed Consolidated Balance Sheet (Unaudited)
(in millions)
| Description | May 31, 2026 (unaudited) | November 30, 2025 |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | 331.2 | 95.9 |
| Trade accounts receivable, net of allowances | 709.4 | 628.9 |
| Inventories, net | ||
| Finished products | 694.7 | 629.1 |
| Raw materials and work-in-process | 713.9 | 642.9 |
| 1,408.6 | 1,272.0 | |
| Prepaid expenses and other current assets | 339.6 | 141.3 |
| Total current assets | 2,788.8 | 2,138.1 |
| Property, plant and equipment, net | 1,504.2 | 1,448.8 |
| Goodwill | 6,291.9 | 5,301.3 |
| Intangible assets, net | 4,937.5 | 3,293.1 |
| Other long-term assets | 954.7 | 1,019.1 |
| Total assets | 16,477.1 | 13,200.4 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Short-term borrowings | 1,326.6 | 381.4 |
| Current portion of long-term debt | 9.5 | 509.1 |
| Trade accounts payable | 1,515.1 | 1,259.4 |
| Other accrued liabilities | 720.6 | 912.3 |
| Total current liabilities | 3,571.8 | 3,062.2 |
| Long-term debt | 3,597.4 | 3,105.8 |
| Deferred taxes | 1,327.0 | 835.8 |
| Other long-term liabilities | 407.6 | 428.5 |
| Total liabilities | 8,903.8 | 7,432.3 |
| Shareholders’ equity | ||
| Common stock | 585.1 | 582.4 |
| Common stock non-voting | 1,729.0 | 1,700.8 |
| Retained earnings | 4,842.9 | 3,816.4 |
| Accumulated other comprehensive loss | (161.4) | (363.1) |
| Total McCormick & Company shareholders’ equity | 6,995.6 | 5,736.5 |
| Non-controlling interests | 577.7 | 31.6 |
| Total shareholders’ equity | 7,573.3 | 5,768.1 |
| Total liabilities and shareholders’ equity | 16,477.1 | 13,200.4 |
Cash Flow Statement (Unaudited)
(in millions)
| Description | Six months ended May 31, 2026 | Six months ended May 31, 2025 |
|---|---|---|
| Operating activities | ||
| Net income | 1,182.5 | 339.4 |
| Adjustments to reconcile net income to net cash flow provided by operating activities: | ||
| Depreciation and amortization | 136.5 | 110.9 |
| Stock-based compensation | 29.3 | 29.6 |
| Amortization of inventory fair value adjustments associated with acquisition | 15.0 | — |
| Deferred income tax benefit | (11.3) | (12.1) |
| Income from unconsolidated operations | (22.7) | (39.2) |
| Gain on remeasurement of previously held equity interest | (866.8) | — |
| Changes in operating assets and liabilities (net of effect of businesses acquired) | ||
| Trade accounts receivable | 129.4 | 23.2 |
| Inventories | (6.3) | (19.1) |
| Trade accounts payable | 30.2 | (74.5) |
| Other assets and liabilities | (199.6) | (219.4) |
| Dividends from unconsolidated affiliates | 14.5 | 22.6 |
| Net cash flow provided by operating activities | 430.7 | 161.4 |
| Investing activities | ||
| Acquisition of business, net of cash acquired | (729.9) | (19.8) |
| Capital expenditures (including software) | (75.2) | (85.4) |
| Net cash flow used in investing activities | (805.1) | (105.2) |
| Financing activities | ||
| Short-term borrowings, net | 945.2 | 116.0 |
| Long-term debt borrowings (net of debt issuance costs of $1.1) | 497.7 | 0.9 |
| Debt financing fees paid | (51.0) | — |
| Long-term debt repayments | (504.4) | (13.6) |
| Proceeds from exercised stock options | 13.6 | 13.3 |
| Taxes withheld and paid on employee stock awards | (11.9) | (12.6) |
| Common stock acquired by purchase | (10.9) | (26.5) |
| Dividends paid | (257.9) | (241.5) |
| Dividends paid to joint venture partner | (8.4) | — |
| Other financing activities | (9.3) | 21.1 |
| Net cash flow provided by (used in) financing activities | 602.7 | (142.9) |
| Effect of exchange rate changes on cash and cash equivalents | 7.0 | 24.7 |
| Increase (decrease) in cash and cash equivalents | 235.3 | (62.0) |
| Cash and cash equivalents at beginning of period | 95.9 | 186.1 |
| Cash and cash equivalents at end of period | 331.2 | 124.1 |
Amounts as printed on the EDGAR/iXBRL face — (in millions except per share amounts); (in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗