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McCormick & Company Inc
DUS:MCX

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McCormick & Company Inc Logo
McCormick & Company Inc
DUS:MCX
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Price: 39.88 EUR 2.94%
Market Cap: €10.7B

McCormick & Company Inc
Investor Relations

McCormick & Company makes spices, herbs, seasoning blends, sauces, and other flavor products that people use in home kitchens and food factories. Its brands show up in grocery aisles, restaurant kitchens, and packaged foods, where customers want consistent taste and shelf-stable ingredients. The company sells through retailers, food distributors, restaurants, and other food makers, so it earns money by selling finished flavor products and ingredients rather than by providing a service. For everyday shoppers, McCormick is the name behind jars, packets, and mixes used for cooking at home. For food companies and restaurants, it supplies custom seasonings, flavor systems, and other ingredients that help them create repeatable recipes and branded foods. That gives McCormick a steady role in the food chain: it does not just package a commodity spice, it helps customers build flavor and keep products tasting the same from batch to batch. What makes the business easy to understand is that flavor is a basic need in both home cooking and commercial food production. McCormick earns money each time a customer buys its branded products or its foodservice and industrial ingredients. Its business depends on long-running habits, everyday use, and the fact that many manufacturers prefer a reliable supplier that can deliver the same taste, quality, and blending expertise over and over.

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Last Earnings Call
Fiscal Period
Q1 2026
Call Date
Mar 31, 2026
AI Summary
Q1 2026

Deal: McCormick announced a combination with Unilever Foods that management described as a “strength plus strength” transaction, creating a scaled global flavor company with more reach in retail and food service.

Financial profile: The combined company is expected to have about $20 billion in annual net sales, 21% operating margins, and roughly $600 million in annual run-rate cost synergies by year 3.

Growth outlook: Management expects the deal to support 3% to 5% organic sales growth by year 3, with meaningful accretion in the first full year after closing.

Balance sheet: McCormick said net leverage should be at or below 4x at closing and should fall to about 3x within 2 years.

Q1 backdrop: McCormick said first-quarter fiscal 2026 delivered strong sales, adjusted operating income, and adjusted EPS growth, helped by McCormick de Mexico and organic growth in both businesses.

Key Financials
Sales
$20 billion
Operating margin
21%
Cost synergies
$600 million annual run rate
Reinvestment into brands
$100 million
Net leverage
At or below 4x at closing
Transaction cash payment
$15.7 billion
Enterprise value for Unilever Foods
Approximately $44.8 billion
Enterprise value for McCormick
Approximately $21 billion
Valuation multiple
Approximately 13.8x calendar year 2025 EBITDA
Pro forma ownership
65% for Unilever and its shareholders; 35% for McCormick shareholders
Food service sales
Approximately $6 billion
Dividend payout ratio
Approximately 60%
Current margin profile mentioned in Q&A
Mid- to high 40s gross margin
Brand marketing investment mentioned in Q&A
Around 10%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Lawrence E. Kurzius
Executive Chairman of the Board
No Bio Available
Mr. Brendan M. Foley
President, CEO & Director
No Bio Available
Mr. Michael R. Smith CPA
Executive VP & CFO
No Bio Available
Ms. Sarah J. Piper
Chief Human Relations Officer
No Bio Available
Ms. Anju Rao
Chief Science Officer
No Bio Available
Ms. Faten Freiha
Vice President of Investor Relations
No Bio Available
Ms. Lori Amos Robinson
Vice President of Corporate Communications, Corporate Branding and Culinary Marketing
No Bio Available
Ms. Tabata L. Gomez
Chief Marketing Officer
No Bio Available
Ms. Kasey A. Jenkins
Chief Growth Officer
No Bio Available
Ms. Ana Sanchez
President of Europe & Middle East and Africa (EMEA)
No Bio Available

Contacts

Address
MARYLAND
Hunt Valley
24 Schilling Road
Contacts
+14107717537.0
www.mccormick.com
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