McCormick earnings
MyStockButler's October 2026 analysis: McCormick's next results are expected on January 28, 2027. Watch approval milestones and customer service during integration.
What has McCormick guided for fiscal 2026?
For fiscal 2026, management guides to 13.0%–17.0% reported sales growth and 1.0%–3.0% organic growth. Adjusted EPS guidance is $3.05–$3.13. Adjusted operating income is guided to rise 16.0%–20.0%. Planned capital expenditure is $250 million.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Percentage change in net sales | Year to Nov 2026 | 13.0% | 17.0% | Oct 1, 2026 |
| Percentage change in organic net sales | Year to Nov 2026 | 1.0% | 3.0% | Oct 1, 2026 |
| Percentage change in adjusted operating income | Year to Nov 2026 | 16.0% | 20.0% | Oct 1, 2026 |
| Percentage change in adjusted earnings per share - diluted | Year to Nov 2026 | 2.0% | 5.0% | Oct 1, 2026 |
| Adjusted diluted earnings per share | Year to Nov 2026 | 3.05 | 3.13 | Oct 1, 2026 |
| Capital expenditures | Year to Nov 2026 | 250 | 250 | Oct 1, 2026 |
What this means. Most of the expected sales growth comes from the acquisition, not from selling more products: sales from the existing business are expected to rise only 1% to 3%.
Did McCormick keep its promises?
Management’s promises deserve a 3/5 score. Sales, adjusted operating income and adjusted EPS each met or exceeded their initial ranges in three of five years, but forecasts were cut during 2021, twice during 2022 and again in 2025. China’s COVID disruption, currency movements, the Kitchen Basics sale, tariffs and slower cost recovery all complicated the record.
| What management forecast | Checked | Above | Within | Below |
|---|---|---|---|---|
| Net sales growth | 5 years | 2 | 1 | 2 |
| Adjusted operating income | 5 years | 1 | 2 | 2 |
| Adjusted earnings per share | 5 years | 3 | 0 | 2 |
What this means. The three out of five score is unclear because the table checks five years for three different forecasts, so it does not say exactly what was counted.
What do McCormick's last eight quarters show?
The August 2026 quarter showed better underlying operating profitability, but transaction costs and weaker cash flow limited shareholder gains.
| Aug 2026 | May 2026 | Feb 2026 | Nov 2025 | Aug 2025 | May 2025 | Feb 2025 | Nov 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,024.8 | 1,936.6 | 1,873.9 | 1,850.4 | 1,724.9 | 1,659.5 | 1,605.5 | 1,798.0 |
| Gross margin | 39.3% | 40.2% | 37.8% | 38.9% | 37.4% | 37.5% | 37.6% | 40.2% |
| Operating income | 217.0 | 276.4 | 227.5 | 311.1 | 288.7 | 245.8 | 225.2 | 306.2 |
| Net income | 97.6 | 150.1 | 1,016.2 | 226.6 | 225.5 | 175.0 | 162.3 | 215.2 |
| EPS, diluted | 0.36 | 0.56 | 3.77 | 0.84 | 0.84 | 0.65 | 0.60 | 0.80 |
What this means. Net income and earnings per share jump in February 2026 because they include a one-time $866.8 million gain from revaluing an earlier investment, not regular business profit.
What should I watch in McCormick's next results?
The next decisive evidence will be approval milestones, fourth-quarter cash generation and customer service during integration.
After closing, synergies become the test. Synergies are savings or extra revenue expected because two businesses combine. Management reaffirmed $600 million of annual net cost synergies, with about two-thirds expected by the second year after closing. Unilever support services are to be withdrawn over two years. A missed shipment during a systems change could destroy some of the savings the change was meant to create.