Recent Updates — MKC
McCormick & Company reported third-quarter fiscal 2026 results ending August 31, 2026, with net sales increasing 17.4% to $2,024.8 million and organic growth of 1.9%. Adjusted operating income rose 22.1% to $359 million, while adjusted diluted earnings per share increased slightly to $0.86 from $0.85 in the prior year period. Reported diluted EPS was $0.36, significantly lower than the $0.84 reported previously, due to $141.5 million in special charges including transaction costs and a non-cash impairment. The company reaffirmed its full-year 2026 outlook for adjusted earnings per share of $3.05 to $3.13. McCormick also provided an update on its proposed combination with Unilever Foods, stating integration planning is on track with regulatory filings submitted and a target close by mid-2027. McCormick & Company operates in the food industry as a global leader in flavor manufacturing and distribution.
On September 24, 2026, McCormick & Company dismissed Ernst & Young LLP as its independent auditor because EY will lose independence following the anticipated closing of a transaction with Unilever to acquire Unilever's foods business. The dismissal becomes effective upon filing the 10-K for the fiscal year ended November 30, 2026. McCormick engaged KPMG LLP as its new auditor for the fiscal year ending November 30, 2027, subject to standard acceptance procedures. There were no disagreements with EY and no reportable events during the relevant periods. McCormick & Company Inc operates in the food seasoning and flavoring industry.
On August 25, 2026, Anne Bramnan announced her intention to resign from the Board of Directors and as Chair of the Audit Committee at McCormick & Company due to her new role as Executive Vice President and Chief Financial Officer at Best Buy Co., Inc. She will remain on the Board until November 30, 2026, while Valarie Sheppard assumes the Audit Committee Chair role effective September 1, 2026. The resignation is not related to any disagreements regarding operations or policies. McCormick & Company operates in the food industry, manufacturing and distributing spices, seasonings, sauces, and condiments.
McCormick & Company, Inc. reported its second quarter fiscal year 2026 results for the period ending May 31, 2026, and reaffirmed its full-year 2026 outlook. The company is a global manufacturer and marketer of spices, seasonings, and flavorings.