McCormick Posts Higher 3Q Sales, Lower Profit
Dow Jones2026/10/01 10:59By Connor Hart
McCormick & Co. reported higher sales in its fiscal third quarter, ahead of its planned combination with Unilever's food business.
The spice maker on Thursday posted net income of $97.6 million, or 36 cents a share, for its three months ended Aug. 31, compared with $225.5 million, or 84 cents a share, a year earlier.
Stripping out certain one-time items, earnings came in at 86 cents a share. Analysts polled by FactSet expected adjusted earnings of 76 cents a share.
Quarterly sales climbed 17% to $2.02 billion, ahead of Wall Street models for $1.98 billion. On an organic basis, sales ticked up 1.9%.
Sales across McCormick's consumer segment jumped 25%, primarily due to its acquisition of McCormick de Mexico. On an organic basis, sales across the consumer unit increased 1% as higher prices offset lower volumes.
Sales across the company's flavor solutions segment were up 8%, or 3% on an organic basis.
Chief Executive Brendan Foley said disciplined productivity initiatives helped offset rising input and freight costs, supporting margin expansion and enabling continued investment in the company's brands.
He added that McCormick continues its work to combine with Unilever's food business, having made substantial progress on integration planning: "We have established the future leadership team and operating model, mobilized cross-functional resources, and developed detailed plans to support business continuity and planned synergy delivery post-close."
Looking ahead, McCormick continues to expect adjusted earnings of $3.05 to $3.13 a share for the year ended Nov. 30. Net sales are still projected to rise 13% to 17%, including an up to 13% contribution from McCormick de Mexico.
Analysts are looking for adjusted earnings of $3.09 a share on sales of $7.91 billion, marking a roughly 16% increase from last year.
Shares rose 3.5% to $48 in premarket trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
October 01, 2026 06:59 ET (10:59 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BitMine sets 5% Ether supply ‘hard cap’ as accumulation target nears
BUZZ-SpaceX seeks 40 billions USD in financing to purchase Nvidia chips, stock price drops in response
October 7 - SpaceX (SPCX.O) shares fell 1.8% in premarket trading to $168.9. According to the Financial Times, citing people familiar with the matter, the company plans to raise $40 billions to acquire Nvidia (NVDA.O) AI chips. The Financial Times reports that the proposed financing, led by Apollo Global Management (APO.N), includes around $10 billions in bank loans and $30 billions in investment-grade bonds to pay for the chip orders. This move by Elon Musk's company underscores the enormous capital required amid the AI boom, as tech companies race to expand their computing infrastructure. SpaceX, Apollo Global Management, and Nvidia have yet to respond to Reuters' requests for comment. Out of 41 brokerages, 32 have a "Buy" or higher rating on the stock, 6 rate it "Hold," and 3 as "Sell" or lower; the median target price is $217, according to data compiled by London Stock Exchange Group (LSEG). As of the previous trading session close, SPCX shares have risen 27.3% from their IPO price of $135.
BUZZ - Constellation Brands shares fall after lowering profit margin expectations
October 7 - Constellation Brands (STZ.N) shares fell nearly 5% in pre-market trading to $110.11. The Corona beer maker lowered its full-year operating margin forecast to 31%-32% from the previous 32%-33%. The company reported Q2 profit and sales on Tuesday that exceeded expectations, driven by strong demand for beers such as Modelo Especial and Victoria, which helped offset challenges in the alcohol sector amid weak consumption. JPMorgan stated that Q2 FY2027 financial results were largely in line with expectations; market focus may turn to management's outlook for H2 FY2027 beer business revenue and operating margins, and the implications for FY2028. The company will pay $75 million to acquire the vodka-based ready-to-drink (RTD) brand SpikedAde upon transaction completion, with up to a further $278 million over five years depending on brand performance and capital allocation priorities. “Although the brand and category are still nascent, the acquisition of SpikedAde could hold significant potential,” said JPMorgan. As of yesterday's close, the stock is down 16% year to date.
Advanced Micro Devices CEO Reportedly Seeks Samsung Partnership, Meets Korean Executives
04:37 AM EDT, 10/07/2026 (MT Newswires) -- Advanced Micro Devices (AMD) is pursuing a collaboration with Samsung Electronics in memory and chip manufacturing, multiple outlets reported Wednesday, citing Chief Executive Lisa Su and an unnamed person familiar with the matter. Su reportedly held talks with SK Hynix (SKHY) leadership and scheduled a meeting with Samsung semiconductor head Jun Young-hyun during a trip to South Korea, the reports said. The company depends heavily on South Korean suppliers to reach its data center targets and is encouraging manufacturers to improve output, Reuters quoted Su as saying. AMD, Samsung Electronics, and SK Hynix did not immediately respond to MT Newswires' request for comment.
Crypto prices
More
