Mccormick & Co Stock Price, News & Analysis

McCormick (NYSE:MKC) has announced its quarterly dividend payment, maintaining its long-standing tradition of shareholder returns. The company's Board of Directors has declared a quarterly dividend of $0.45 per share on its common stocks. The dividend will be payable on April 21, 2025, to shareholders of record as of April 7, 2025. This declaration marks McCormick's 101st consecutive year of dividend payments, highlighting the company's consistent commitment to delivering value to its shareholders.

McCormick (NYSE:MKC) reported first quarter 2025 financial results with flat sales compared to the previous year, showing a 2% volume growth offset by a 2% unfavorable currency impact. Operating income decreased to $225 million from $234 million year-over-year.

Key highlights include:

• Consumer segment sales remained at $919 million with 1% organic growth
• Flavor Solutions segment sales increased 1% to $686 million
• Earnings per share decreased to $0.60 from $0.62 year-over-year
• Gross profit margin expanded by 20 basis points

The company reaffirmed its fiscal 2025 outlook, expecting foreign currency rates to unfavorably impact sales by 1%, adjusted operating income by 1%, and adjusted earnings per share by 2%. McCormick continues to focus on cost savings initiatives through its Comprehensive Continuous Improvement (CCI) program to fuel investments and drive operating margin expansion.

McCormick & Company (NYSE: MKC) has announced it will release its first quarter 2025 financial results on March 25, 2025 at 8:00 a.m. Eastern Time. The company will host a conference call and webcast featuring Chairman, President & CEO Brendan Foley, Executive Vice President & CFO Marcos Gabriel, and VP of Investor Relations Faten Freiha.

The presentation will be available through a live audio webcast on ir.mccormick.com. For those unable to attend, an audio replay will be accessible until April 15, 2025, by calling 877-660-6853 (US) or 201-612-7415 (international) with conference ID 13752085.

Holladay Distillery has broken ground on Rickhouse D, its fourth ironclad rickhouse in Missouri, responding to increased consumer demand. The new facility will be constructed over 8-9 months with an 11,000-barrel capacity, maintaining consistency with existing rickhouses that span approximately 9,000 square feet and hold 10,000-12,000 barrels.

After a bourbon distilling hiatus from 1985 to 2015, Holladay resumed production using its original 1856 mash bill, leading to the release of Ben Holladay Bourbon in 2022. In 2016, they introduced a new soft red wheat mash bill, resulting in Holladay Soft Red Wheat Bourbon in 2023. The company's portfolio includes Rickhouse Proof, One Barrel Bourbons, and the Ancient Cave Collection, all of which will benefit from the expanded capacity.

McCormick & Company (NYSE: MKC) has announced its upcoming presentation at the Consumer Analyst Group of New York (CAGNY) Conference scheduled for February 18, 2025, at 4:00 p.m. ET. The global flavor leader will be represented by Brendan Foley, Chairman, President & CEO, and Marcos Gabriel, Executive Vice President & CFO.

The presentation will be accessible through a live webcast on McCormick's investor relations website at ir.mccormick.com. For those unable to attend the live event, a replay will be made available on the same platform following the presentation.

McCormick (NYSE:MKC) reported strong financial results for Q4 and fiscal year 2024. Fourth quarter sales increased 3% with a 1% currency benefit, while fiscal year sales grew 1%. Q4 earnings per share was $0.80 compared to $0.81 in 2023, while adjusted EPS was $0.80 versus $0.85 in 2023.

For fiscal year 2024, earnings per share reached $2.92 compared to $2.52 in 2023, with adjusted EPS of $2.95 versus $2.70. Cash flow from operations was $922 million, down from $1.2 billion in 2023. The company increased its quarterly dividend by 7%, marking the 39th consecutive year of dividend increases.

Looking ahead to 2025, McCormick expects net sales growth of 0-2% (1-3% in constant currency), operating income growth of 3-5%, and adjusted earnings per share of $3.03-$3.08. The company anticipates a tax rate of 22% and plans to continue returning significant cash flow to shareholders through dividends.

McCormick & Company (NYSE: MKC) has announced it will report its fourth quarter 2024 financial results on January 23, 2025, at 8:00 a.m. Eastern Time. The company will conduct a conference call and webcast hosted by Chairman, President & CEO Brendan Foley, Executive Vice President & CFO Marcos Gabriel, and Vice President of Investor Relations Faten Freiha.

A live audio webcast and presentation materials will be available on McCormick's investor relations website. For those unable to attend, an audio replay will be accessible until February 13, 2025, by calling 877-660-6853 (US) or 201-612-7415 (international) with conference ID 13750613.

McCormick & Company (NYSE: MKC) announced that Lawrence E. Kurzius will step down as Executive Chairman on December 31, 2024, after eight years of service. He will remain on the Board but won't seek re-election in March 2025. Brendan Foley, current President and CEO, will succeed Kurzius as Chairman effective January 1, 2025, while maintaining his existing responsibilities.

Foley, who joined McCormick 10 years ago, has held various leadership positions including President U.S. Consumer, President North America, and President Global Consumer. He previously worked at H.J. Heinz and General Mills.

McCormick (NYSE: MKC) announced a quarterly dividend increase from $0.42 to $0.45 per share, payable January 13, 2025 to shareholders of record December 30, 2024. This marks the company's 101st year of continuous dividend payments and 39th consecutive year of dividend increases. The company, recognized as a Dividend Aristocrat, has maintained dividend payments since 1925, demonstrating its commitment to returning value to shareholders.