Monitor next quarter for sustained organic growth and margin expansion as the company integrates McCormick de Mexico; the reaffirmed guidance suggests confidence in achieving full-year targets despite macro headwinds.
Price Chart
Executive Summary
McCormick & Company reported first-quarter 2026 results with net sales up 16.7% year-over-year to $1.87B, driven by a 13% contribution from the acquisition of McCormick de Mexico and 3.1% favorable currency impact. Adjusted EPS rose 10% to $0.66, beating prior-year results. The company reaffirmed its full-year 2026 outlook, including 13-17% sales growth and $3.05-$3.13 adjusted EPS, supported by acquisition accretion and organic growth. A non-cash gain from remeasuring its equity interest in McCormick de Mexico contributed $3.22 to reported EPS of $3.77.
Key Financial Metrics
Key Facts
- Net sales increased 16.7% YoY to $1.87B, with 13% from the McCormick de Mexico acquisition and 3.1% from favorable currency.
- Adjusted EPS was $0.66, up 10% YoY, while reported EPS was $3.77 due to a $3.22 non-cash gain from remeasuring equity interest in McCormick de Mexico.
- Operating income was $228M vs. $225M YoY; adjusted operating income rose 19% to $268M.
- Gross profit margin expanded 20 bps YoY to 37.8%, with adjusted gross profit margin up 100 bps to 38.6%.
- Company reaffirmed full-year 2026 guidance: 13-17% sales growth, 16-20% adjusted operating income growth, and $3.05-$3.13 adjusted EPS.
Financial Impact
Sales up 16.7% YoY to $1.87B, adjusted EPS up 10% to $0.66, driven by acquisition and pricing.
Risk Factors
- Non-GAAP adjustments include significant special charges ($40.1M) and a large non-cash gain ($866.8M), which may obscure underlying performance.
- Guidance assumes continued benefits from the McCormick de Mexico acquisition and favorable currency, which could reverse.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000063754-26-000189 |
| Document: mkc-20260331.htm | 0000063754-26-000189 |
| Document: 0000063754-26-000189-index-headers.html | 0000063754-26-000189 |
| Document: 0000063754-26-000189-index.html | 0000063754-26-000189 |
| Document: 0000063754-26-000189.txt | 0000063754-26-000189 |
| 8-K Data (Synthetic) | 0000063754-26-000189 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Apr 17, 2026 27w ago | 8-K | $53.80 $52.81 | ▼ −1.84% | ▼ −7.98% | $47.80 (−11.15%) |
Mar 31, 2026 30w ago | 8-K | $49.93 $50.88 | ▲ +1.90% | ▼ −10.48% | $47.80 (−4.27%) |
US Market Status
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