McCormick & Company, Incorporated (MKC)

Sector: Consumer Staples|Industry: Packaged Foods|Market Cap: $20.35B|Employees: 13.8K


McCormick & Company is a global leader in flavor, manufacturing, marketing, and distributing spices, seasoning mixes, condiments, and other flavorful products. The company operates through two segments: consumer and flavor solutions, selling to retailers, food manufacturers, and foodservice businesses across North America, Europe, and China. McCormick is a brand leader in spices and seasonings, and a leader in condiments and sauces in the U.S.

  1. Filings

Filing Highlights

Financial Performance

Net sales increased 2.7% in Q3 2025 to $1,724.9 million and 1.3% for the nine months ended August 31, 2025, to $4,989.9 million, compared to the prior year periods. Organic sales growth, excluding foreign currency impacts, was a stronger 1.8% for both periods, indicating underlying business strength despite fluctuating foreign currency effects.

Gross profit margin declined by 130 basis points to 37.4% in Q3 2025 and 40 basis points to 37.5% for the nine months ended August 31, 2025, compared to the prior year. This contraction was primarily driven by increased commodity costs, including tariffs, and higher conversion costs, partially offset by Comprehensive Continuous Improvement (CCI) program-led cost savings.

Net cash flow provided by operating activities for the nine months ended August 31, 2025, decreased by $43.0 million to $420.2 million compared to $463.2 million in the corresponding 2024 period. This decline was primarily attributed to increased cash used for working capital, specifically higher accounts payable.

Growth & Strategy

Management Execution

Risk Factors

Competitive Position

Operational Efficiency

Innovation & Technology

Capital Allocation

ESG initiatives

Market Environment