Form 10-Q · Quarterly report
McCormick & Company 10-Q, filed Oct 1, 2026
- Filed
- CIK
- 0000063754
- Accession no.
- 0000063754-26-000329
Summary
McCormick & Company reported third-quarter 2026 net sales of $2.02 billion, up 17.4%, with its acquisition of an additional 25% stake in McCormick de Mexico contributing 14.6 percentage points, while operating income fell 24.8% and adjusted operating income rose 22.1%. The company also agreed to merge with Unilever's Unilever Foods business in a Reverse Morris Trust transaction and is seeking refunds after the U.S. Supreme Court ruled certain IEEPA tariffs unlawful.
Key points
- McCormick acquired an additional 25% ownership interest in McCormick de Mexico for $750.0 million on January 2, 2026, increasing its ownership to a 75% controlling interest.
- McCormick entered a Merger Agreement with Unilever on March 31, 2026; Unilever will separate its Unilever Foods business and merge it with a McCormick subsidiary, with Unilever shareholders expected to own about 55.1% of the combined company, McCormick shareholders about 35.0%, and Unilever up to about 9.9%, and Unilever receiving a one-time $15.7 billion cash payment.
- Third-quarter 2026 net sales rose 17.4% to $2,024.8 million, diluted EPS was $0.36 versus $0.84, and adjusted diluted EPS was $0.86 versus $0.85.
- McCormick submitted an IEEPA tariff refund request on April 28, 2026, following a U.S. Supreme Court ruling that certain IEEPA tariffs are unlawful and CBP's establishment of a refund portal.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2.MANAGEMENT’S DISCUSSION OVERVIEW The following Management’s Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is intended to help the reader understand McCormick & Company, Incorporated, our operations, and our present business environment from the perspective of management. MD&A is provided as a supplement to, and should be read in conjunction with, our condensed consolidated financial statements and the accompanying notes thereto, included in Item 1 of this report. …
An excerpt of the text as filed with the SEC, cut for length.
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