McCormick & Company (MKC) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.70

$0.67$0.73

vs $0.69+1.3%

11 analysts

Next Qtr

$0.84

$0.80$0.88

vs $0.85-1.2%

10 analysts

Current Yr

$3.10

$3.07$3.14

vs $3.00+3.2%

14 analysts

Next Yr

$3.34

$3.20$3.42

vs $3.10+7.8%

12 analysts

Revenue Estimates

Current Qtr

$1.91B

$1.90B$1.94B

vs $1.66B+15.3%

9 analysts

Next Qtr

$1.99B

$1.97B$2.02B

vs $1.72B+15.3%

9 analysts

Current Yr

$7.88B

$7.78B$7.99B

vs $6.84B+15.2%

14 analysts

Next Yr

$8.16B

$8.06B$8.28B

vs $7.88B+3.7%

12 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for MKC on EDGAR.

MKC filing events and research context
Filed	Item	Context
Jan 22, 2026	business	McCormick & Company targets long-term annual sales growth of 4% to 6% and adjusted EPS growth of 9% to 11%, driven by brand marketing, scalable innovation, and acquisitions. The company operates through two primary segments: Consumer, focusing on retail spices and condiments, and Flavor Solutions, providing B2B seasonings and "better-for-you" flavors. A pivotal strategic move occurred on January 2, 2026, with the $750 million acquisition of an additional 25% interest in McCormick de Mexico, increasing ownership to 75% to accelerate Latin American expansion. In fiscal 2025, net sales reached $6.84 billion, though gross margins declined by 60 basis points due to increased commodity costs and tariffs. For 2026, the company projects net sales growth of 13% to 17%, with 11% to 13% attributed to the Mexico acquisition and 1% to 3% organic growth. Key financial risks include volatility in raw materials—specifically dairy, pepper, garlic, and onion—and foreign currency fluctuations. To offset these pressures and expand operating margins, the company utilizes its Continuous Cost Improvement (CCI) program to streamline SG&A and fund increased brand marketing investments, which are projected to rise by low to mid-teens digits in 2026.
Jan 22, 2026	mda	Net sales for 2025 grew 1.7% to $6.84 billion, with organic growth of 1.9% driven by a 2.1% volume and product mix increase in the Consumer segment, which offset a 0.2% decline in Flavor Solutions. Gross profit margin contracted 60 basis points to 37.9% due to rising commodity costs, tariffs, and conversion costs for future capacity, partially mitigated by pricing actions and the CCI program. SG&A expenses decreased by $20.9 million through streamlining and lower performance-based compensation. The 2026 outlook projects net sales growth of 13% to 17%, with 11% to 13% attributed to the acquisition of a controlling interest in McCormick de Mexico and 1% to 3% organic growth. Adjusted operating income is expected to increase 16% to 20%, fueled by margin recovery, CCI cost savings, and acquisition accretion, though offset by higher commodity costs and brand marketing investments rising in the low to mid-teens. Adjusted diluted EPS is projected between $3.05 and $3.13, reflecting a 2% to 5% increase. Management identifies global trade policies and macroeconomic uncertainty as primary risks to these projections.
Jan 22, 2026	risk_factors	McCormick is exposed to global economic volatility and inflationary pressures that may reduce consumer spending and increase the appeal of private-label alternatives. The company faces significant customer concentration, with two major clients accounting for approximately 24% of 2025 sales. Supply chain stability is threatened by the volatile pricing and availability of key raw materials, including pepper, garlic, onion, capsicums, and soybean oil, which are susceptible to climate change and geopolitical instability. With 39% of sales generated outside the U.S., the company is highly sensitive to foreign currency fluctuations and shifting global trade policies, including tariffs. Financial risks include approximately $4.0 billion in outstanding indebtedness, making results sensitive to interest rate hikes and credit rating downgrades. Operational risks center on a multi-year ERP system replacement and business transformation initiative, alongside evolving cybersecurity threats. Regulatory headwinds include the FDA’s call to phase out petroleum-based synthetic dyes and recommendations from the MAHA Commission. Additionally, the company must navigate increasing stakeholder pressure to reduce plastic packaging and meet science-based greenhouse gas emission targets. Failure to maintain brand relevance through the adoption of AI and data analytics further threatens its competitive position in the flavor products market.

Filed

Item

Context

Jan 22, 2026

business

McCormick & Company targets long-term annual sales growth of 4% to 6% and adjusted EPS growth of 9% to 11%, driven by brand marketing, scalable innovation, and acquisitions. The company operates through two primary segments: Consumer, focusing on retail spices and condiments, and Flavor Solutions, providing B2B seasonings and "better-for-you" flavors. A pivotal strategic move occurred on January 2, 2026, with the $750 million acquisition of an additional 25% interest in McCormick de Mexico, increasing ownership to 75% to accelerate Latin American expansion. In fiscal 2025, net sales reached $6.84 billion, though gross margins declined by 60 basis points due to increased commodity costs and tariffs. For 2026, the company projects net sales growth of 13% to 17%, with 11% to 13% attributed to the Mexico acquisition and 1% to 3% organic growth. Key financial risks include volatility in raw materials—specifically dairy, pepper, garlic, and onion—and foreign currency fluctuations. To offset these pressures and expand operating margins, the company utilizes its Continuous Cost Improvement (CCI) program to streamline SG&A and fund increased brand marketing investments, which are projected to rise by low to mid-teens digits in 2026.

Jan 22, 2026

mda

Net sales for 2025 grew 1.7% to $6.84 billion, with organic growth of 1.9% driven by a 2.1% volume and product mix increase in the Consumer segment, which offset a 0.2% decline in Flavor Solutions. Gross profit margin contracted 60 basis points to 37.9% due to rising commodity costs, tariffs, and conversion costs for future capacity, partially mitigated by pricing actions and the CCI program. SG&A expenses decreased by $20.9 million through streamlining and lower performance-based compensation. The 2026 outlook projects net sales growth of 13% to 17%, with 11% to 13% attributed to the acquisition of a controlling interest in McCormick de Mexico and 1% to 3% organic growth. Adjusted operating income is expected to increase 16% to 20%, fueled by margin recovery, CCI cost savings, and acquisition accretion, though offset by higher commodity costs and brand marketing investments rising in the low to mid-teens. Adjusted diluted EPS is projected between $3.05 and $3.13, reflecting a 2% to 5% increase. Management identifies global trade policies and macroeconomic uncertainty as primary risks to these projections.

Jan 22, 2026

risk_factors

McCormick is exposed to global economic volatility and inflationary pressures that may reduce consumer spending and increase the appeal of private-label alternatives. The company faces significant customer concentration, with two major clients accounting for approximately 24% of 2025 sales. Supply chain stability is threatened by the volatile pricing and availability of key raw materials, including pepper, garlic, onion, capsicums, and soybean oil, which are susceptible to climate change and geopolitical instability. With 39% of sales generated outside the U.S., the company is highly sensitive to foreign currency fluctuations and shifting global trade policies, including tariffs. Financial risks include approximately $4.0 billion in outstanding indebtedness, making results sensitive to interest rate hikes and credit rating downgrades. Operational risks center on a multi-year ERP system replacement and business transformation initiative, alongside evolving cybersecurity threats. Regulatory headwinds include the FDA’s call to phase out petroleum-based synthetic dyes and recommendations from the MAHA Commission. Additionally, the company must navigate increasing stakeholder pressure to reduce plastic packaging and meet science-based greenhouse gas emission targets. Failure to maintain brand relevance through the adoption of AI and data analytics further threatens its competitive position in the flavor products market.

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MKC filing events and research context

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