NYSE: MKC
MCCORMICK & CO INCCIK 0000063754 · SIC 2090 · Food Preparations
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McCormick's Q3 sales jump 17.4% to $2.02B, but net income falls 56.7% to $97.6M on merger costs
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McCormick dismisses EY as auditor, hires KPMG ahead of Unilever foods deal
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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 Oct 1, 2026 (period ending Aug 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 August 31, 2026 | Three months ended August 31, 2025 | Nine months ended August 31, 2026 | Nine months ended August 31, 2025 |
|---|---|---|---|---|
| Net sales | 2,024.8 | 1,724.9 | 5,835.3 | 4,989.9 |
| Cost of goods sold | 1,229.9 | 1,079.8 | 3,553.3 | 3,118.0 |
| Gross profit | 794.9 | 645.1 | 2,282.0 | 1,871.9 |
| Selling, general and administrative expense | 436.4 | 352.5 | 1,334.5 | 1,095.5 |
| Special charges | 141.5 | 3.9 | 226.6 | 16.7 |
| Operating income | 217.0 | 288.7 | 720.9 | 759.7 |
| Interest expense | 68.4 | 50.2 | 178.4 | 149.7 |
| Other income, net | 5.9 | 9.4 | 17.2 | 29.0 |
| Income from consolidated operations before income taxes | 154.5 | 247.9 | 559.7 | 639.0 |
| Income tax expense | 49.9 | 39.3 | 162.1 | 130.2 |
| Net income from consolidated operations | 104.6 | 208.6 | 397.6 | 508.8 |
| Income from unconsolidated operations | 3.0 | 19.1 | 892.5 | 58.3 |
| Net income | 107.6 | 227.7 | 1,290.1 | 567.1 |
| Net income attributable to noncontrolling interests | 10.0 | 2.2 | 26.2 | 4.3 |
| Net income attributable to McCormick & Company | 97.6 | 225.5 | 1,263.9 | 562.8 |
| Earnings per share basic | 0.36 | 0.84 | 4.70 | 2.10 |
| Earnings per share diluted | 0.36 | 0.84 | 4.69 | 2.09 |
| Average shares outstanding basic | 269.3 | 268.6 | 269.1 | 268.5 |
| Average shares outstanding diluted | 269.4 | 269.3 | 269.3 | 269.4 |
| Cash dividends paid per share voting and non-voting | 0.48 | 0.45 | 1.44 | 1.35 |
Condensed Consolidated Balance Sheet (Unaudited)
(in millions)
| Description | August 31, 2026 (unaudited) | November 30, 2025 |
|---|---|---|
| ASSETS | ||
| Cash and cash equivalents | 331.1 | 95.9 |
| Trade accounts receivable, net of allowances | 831.5 | 628.9 |
| Inventories, net | ||
| Finished products | 721.1 | 629.1 |
| Raw materials and work-in-process | 725.0 | 642.9 |
| 1,446.1 | 1,272.0 | |
| Prepaid expenses and other current assets | 296.1 | 141.3 |
| Total current assets | 2,904.8 | 2,138.1 |
| Property, plant and equipment, net | 1,537.7 | 1,448.8 |
| Goodwill | 6,303.9 | 5,301.3 |
| Intangible assets, net | 4,958.9 | 3,293.1 |
| Other long-term assets | 945.3 | 1,019.1 |
| Total assets | 16,650.6 | 13,200.4 |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||
| Short-term borrowings | 1,340.2 | 381.4 |
| Current portion of long-term debt | 771.9 | 509.1 |
| Trade accounts payable | 1,481.3 | 1,259.4 |
| Other accrued liabilities | 826.6 | 912.3 |
| Total current liabilities | 4,420.0 | 3,062.2 |
| Long-term debt | 2,906.1 | 3,105.8 |
| Deferred taxes | 1,323.0 | 835.8 |
| Other long-term liabilities | 414.4 | 428.5 |
| Total liabilities | 9,063.5 | 7,432.3 |
| Shareholders’ equity | ||
| Common stock | 580.3 | 582.4 |
| Common stock non-voting | 1,749.5 | 1,700.8 |
| Retained earnings | 4,811.5 | 3,816.4 |
| Accumulated other comprehensive loss | (138.0) | (363.1) |
| Total McCormick & Company shareholders’ equity | 7,003.3 | 5,736.5 |
| Non-controlling interests | 583.8 | 31.6 |
| Total shareholders’ equity | 7,587.1 | 5,768.1 |
| Total liabilities and shareholders’ equity | 16,650.6 | 13,200.4 |
Cash Flow Statement (Unaudited)
(in millions)
| Description | Nine months ended August 31, 2026 | Nine months ended August 31, 2025 |
|---|---|---|
| Operating activities | ||
| Net income | 1,290.1 | 567.1 |
| Adjustments to reconcile net income to net cash flow provided by operating activities: | ||
| Depreciation and amortization | 213.1 | 172.1 |
| Stock-based compensation | 34.5 | 37.3 |
| Amortization of inventory fair value adjustments associated with acquisition | 15.0 | — |
| Asset impairments included in special charges | 43.1 | — |
| Deferred income tax benefit | (21.8) | (15.8) |
| Income from unconsolidated operations | (25.7) | (58.3) |
| 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 | 10.2 | (51.9) |
| Inventories | (44.6) | (26.0) |
| Trade accounts payable | (9.8) | (62.5) |
| Other assets and liabilities | (55.3) | (181.2) |
| Dividends from unconsolidated affiliates | 16.8 | 39.4 |
| Net cash flow provided by operating activities | 598.8 | 420.2 |
| Investing activities | ||
| Acquisition of business, net of cash acquired | (729.9) | (34.1) |
| Capital expenditures (including software) | (131.2) | (138.1) |
| Net cash flow used in investing activities | (861.1) | (172.2) |
| Financing activities | ||
| Short-term borrowings, net | 958.8 | 13.2 |
| Long-term debt borrowings (net of debt issuance costs of $1.1) | 498.3 | 2.4 |
| Debt financing fees paid | (75.0) | — |
| Long-term debt repayments | (506.7) | (15.7) |
| Proceeds from exercised stock options | 23.9 | 15.1 |
| Taxes withheld and paid on employee stock awards | (11.9) | (13.2) |
| Common stock acquired by purchase | (10.9) | (29.2) |
| Dividends paid | (387.0) | (362.2) |
| Dividends paid to joint venture partners | (20.8) | — |
| Other financing activities | 21.6 | 11.3 |
| Net cash flow provided by (used in) financing activities | 490.3 | (378.3) |
| Effect of exchange rate changes on cash and cash equivalents | 7.2 | 39.1 |
| Increase (decrease) in cash and cash equivalents | 235.2 | (91.2) |
| Cash and cash equivalents at beginning of period | 95.9 | 186.1 |
| Cash and cash equivalents at end of period | 331.1 | 94.9 |
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 ↗