McCormick & Company, Inc. (NYSE:MKC) has been awarded the inaugural 2021 Terra Carta Seal, recognizing its commitment to sustainable markets. This seal was launched by His Royal Highness, the Prince of Wales, as part of the Sustainable Markets Initiative. McCormick is one of only 44 global firms to receive this honor. The company is acknowledged for its leadership in promoting sustainability and aims for net zero emissions by 2050. Additionally, McCormick ranked sixth in the Global 100 Sustainability Index and was named a United Nations Global Compact Lead Company.
McCormick reported an 8% sales increase for Q3 2021, totaling $921.9 million, supported by acquisitions like Cholula and FONA. Earnings per share rose to $0.79, up from $0.76 the previous year, while adjusted earnings increased by 5% to $0.80. Despite growth, operating income declined to $265 million due to inflation and other cost pressures. For the fiscal year, McCormick revised its sales forecast to 12%-13% growth, reflecting ongoing shifts in consumer behavior and continued pricing strategies to manage inflationary impacts.
McCormick & Company (NYSE: MKC) announced a quarterly dividend of $0.34 per share, payable on October 26, 2021, to shareholders of record on October 12, 2021. This reflects a 10% increase from the previous annual dividend of $1.24 paid in fiscal year 2020, resulting in a current annualized dividend rate of $1.36. This marks McCormick's 97th consecutive year of dividend payments, underpinning its commitment to returning value to shareholders.
On September 20, 2021, McCormick & Company (NYSE: MKC) was recognized as a Global Compact LEAD company by the United Nations for its strong commitment to sustainability and responsible business practices. As the only U.S. food producer acknowledged in this elite group, McCormick aims to reduce its environmental impact through clean revenue initiatives, renewable energy adoption, and 100% circular packaging. The company actively participates in UN Global Compact Action Platforms focused on climate ambition and decent work, reinforcing its leadership in sustainable practices.
McCormick & Company, Incorporated (NYSE: MKC) will hold a conference call to present its third quarter 2021 financial results on September 30, 2021, at 8:00 a.m. Eastern time. The call will be hosted by Chairman & CEO Lawrence Kurzius, CFO Mike Smith, and VP of Investor Relations Kasey Jenkins. Listeners can access the call live at ir.mccormick.com. An audio replay will be available until October 21, 2021, by calling 877-660-6853 (US) or 201-612-7415 (international). McCormick is a leader in flavors with over $5 billion in annual sales.
McCormick & Company (NYSE: MKC) will engage in a fireside chat at the Barclays Global Consumer Staples Conference on September 8, 2021, at 2:00 p.m. ET. The discussion will feature Lawrence Kurzius, Chairman, President & CEO, and Mike Smith, Executive Vice President & CFO. The session can be accessed live via McCormick's investor relations website and will be archived for future listening. McCormick, a global leader in flavor with over $5 billion in annual sales, produces a wide array of spices and condiments.
Summary not available.
McCormick & Company has announced a voluntary recall of several seasoning products due to potential Salmonella contamination. The affected items include McCormick Perfect Pinch Italian Seasoning (1.31 oz and 2.25 oz), McCormick Culinary Italian Seasoning (1.75 lbs), and Frank's RedHot Buffalo Ranch Seasoning (153g). These products were shipped from June 20 to July 21, 2021, to various states and internationally. No illnesses have been reported. Customers are urged to dispose of the products and can contact McCormick for a replacement or refund.
McCormick (NYSE:MKC) reported Q2 2021 sales growth of 11% year-over-year, with an 8% increase in constant currency. Operating income was $237 million, down from $257 million last year, while adjusted operating income fell 1% to $258 million. Earnings per share declined to $0.68 from $0.73. The company raised its 2021 sales outlook to 11%-13%, citing strong consumer trends and acquisitions boosting growth. Despite challenges, McCormick anticipates continued momentum in its diverse portfolio for long-term growth.
On June 29, 2021, McCormick & Company (NYSE:MKC) announced a quarterly dividend of $0.34 per share, payable on July 26, 2021, to shareholders of record by July 12, 2021. This dividend marks a 10% increase from the previous annual dividend of $1.24 per share. Notably, this announcement celebrates the company's 97th consecutive year of dividend payments. McCormick, a global leader in flavor, reported over $5 billion in annual sales across 160 countries.