McCormick Q2 FY2026: sales up 16.7%, adjusted EPS $0.80, outlook reaffirmed
McCormick's headline growth flatters the underlying business: sales rose 16.7%, but only 1.7% of that was organic. Adjusted EPS of $0.80 beat last year's $0.69 with help from an acquisition and a tariff refund. The view is Neutral — steady execution and a reaffirmed outlook, offset by thin organic growth and a large deal that is still only a plan.
1 · Expected vs. Actual
Free preview belowGAAP earnings per share fell 13.8% to $0.56 from $0.65, because special charges, largely transaction and integration costs, took $0.24 off the number. Excluding those items, adjusted EPS rose 15.9% to $0.80 from $0.69, and adjusted operating income climbed 30.1% to $336.4 million. The operating story is clearly stronger than the GAAP line suggests.
Revenue was $1.94 billion, up 16.7% from $1.66 billion a year earlier, but most of that came from the McCormick de Mexico acquisition (12.3 points) and currency (2.7 points). Organic sales grew just 1.7%. Consumer sales rose 22.8% yet were only 0.8% higher organically, with volume and product mix down 1.9%; Flavor Solutions grew 8.9%, or 2.9% organically.
Log in to read 35 analyses a week for free
Create a free account to read 35 full earnings analyses each week — all five steps: expected vs. actual, guidance tracker, money flow, balance sheet and risks. Members get unlimited access.
Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
Answers are based on the earnings release and the analysis above. Free accounts get 3 questions a week; members get 30 a day.