Welcome to our dedicated page for Mccormick & Co news (Ticker: MKC), a resource for investors and traders seeking the latest updates and insights on Mccormick & Co stock.
McCormick & Company, Incorporated (NYSE: MKC) is a global flavor company that regularly issues news on its business performance, strategic actions, and capital allocation. As a manufacturer, marketer, and distributor of herbs, spices, seasonings, condiments, and flavors, McCormick communicates with investors and the broader market through earnings releases, transaction announcements, and corporate updates.
On this page, readers can follow MKC news related to quarterly and annual financial results, including net sales trends, organic sales growth, operating income, adjusted earnings, and segment performance for the Consumer and Flavor Solutions businesses. McCormick frequently provides outlook commentary, discussing factors such as commodity costs, tariffs, foreign currency, and its Comprehensive Continuous Improvement (CCI) program.
News items also cover corporate actions such as dividend declarations and changes, reflecting McCormick's long history of dividend payments and its inclusion in the S&P 500 Dividend Aristocrats Index. In addition, McCormick publishes updates on strategic initiatives, such as its agreement and subsequent completion of the acquisition of an additional ownership interest in McCormick de Mexico, a joint venture formed with Grupo Herdez. These releases describe how the transaction increases McCormick's ownership stake and expands its platform in Mexico and Latin America.
Investors can also see announcements about McCormick's participation in investor conferences, scheduled earnings calls and webcasts, and other communications with the financial community. By reviewing this news feed, users can track how McCormick describes its performance, strategic priorities, and role as a global flavor company. Bookmarking this page provides a centralized view of recent MKC press releases and related updates.
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.
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.
McCormick & Company (NYSE: MKC) will participate in the Deutsche Bank dbAccess Global Consumer Conference on June 9, 2021, at 1:00 p.m. ET. The event features Lawrence Kurzius, Chairman, President & CEO, and Mike Smith, Executive VP & CFO. Interested parties can listen to the live webcast on the company's investor relations website. Should you miss the live event, an archive will be available online. McCormick is a global leader in flavor, boasting over $5 billion in annual sales and a wide array of popular brands.
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