earnings
confidence high
sentiment positive
materiality 0.85
McCormick Q2 net sales +17%, adj EPS $0.80 (+16%); reaffirms FY26; Unilever deal on track
MCCORMICK & CO INC
- Net sales $1.94B, +17% reported, +2% organic; Consumer segment $1.14B, Flavor Solutions $794M.
- Adjusted EPS $0.80 vs $0.69; adjusted op income $336M (+30%); as-reported EPS $0.56.
- FY26 outlook reaffirmed: organic sales growth 1-3%, adj EPS $3.05-$3.13, adj op income growth 16-20%.
- Unilever Foods integration progressing; secondary listing location by July, operating model detail by Sept; $600M cost synergies expected.
- Gross margin 40.2% (+270bps); $28M IEEPA tariff refund contributed ~140bps; underlying expansion 130bps.