Mccormick & Co Stock Price, News & Analysis

McCormick & Company (NYSE: MKC) has appointed Sarah Piper as Chief Human Relations Officer, effective December 1, 2022. Ms. Piper, who has been with the company since 2008, will lead the global people strategy, focusing on talent management, diversity, and employee engagement. Her extensive experience includes roles at H&R Block and Honeywell. McCormick, headquartered in Hunt Valley, Maryland, generates over $6 billion in annual sales across 170 countries, offering a wide range of spices and flavor products.

McCormick & Company (NYSE:MKC) announced a quarterly dividend increase from $0.37 to $0.39 per share, effective January 9, 2023, for shareholders on record as of December 30, 2022. This marks the 37th consecutive year the company has raised its dividend. Chairman & CEO, Lawrence E. Kurzius, highlighted the company's commitment to shareholder value and its status as a Dividend Aristocrat. McCormick has distributed dividends annually since 1925, showcasing a strong track record in returning cash to shareholders.

McCormick & Company (NYSE: MKC) announced the retirement of Lisa Manzone, Senior Vice President of Human Relations, effective December 31, 2022. With 15 years at the company, she played a pivotal role in enhancing HR strategies and promoting diversity and employee wellbeing. Lawrence E. Kurzius, Chairman and CEO, praised her contributions to McCormick's culture and leadership. McCormick, a leader in flavor with over $6 billion in sales, remains committed to its purpose of promoting healthy, sustainable flavor worldwide.

McCormick & Company (NYSE: MKC) was recognized on Fortune's 2022 Change the World list for its significant social and environmental impact through core business strategies. CEO Lawrence E. Kurzius emphasized the importance of the Purpose-led Performance agenda, which includes aims to enhance farmer livelihoods and sustainable agriculture. The company has reached nearly 23,000 smallholder farmers and supports renewable energy projects. This recognition underscores McCormick’s commitment to social impact and innovation while achieving measurable business results.

McCormick & Company (NYSE: MKC) reported a 3% sales increase in Q3 2022, with a 6% rise in constant currency, primarily driven by growth in the Consumer and Flavor Solutions segments. Operating income was $235 million, down from $265 million, while earnings per share increased to $0.82 from $0.79. The company reaffirmed its 2022 outlook, expecting sales growth of 3% to 5% in constant currency, despite challenges from supply chain issues and inflation. Costs from divestitures and special charges may impact overall performance, though long-term growth remains a focus.

The Board of Directors of McCormick & Company declared a quarterly dividend of $0.37 per share, payable on October 25, 2022, to shareholders of record on October 11, 2022. This dividend reflects a 9% increase over the previous year, with an annualized rate of $1.48 per share. This marks the company's 98th consecutive year of paying dividends. McCormick, a leader in flavor solutions with over $6 billion in annual sales, remains committed to sustainability and delivering quality products worldwide.

On September 7, 2022, McCormick & Company (NYSE: MKC) announced preliminary financial results for Q3 2022, with sales up approximately 3% year-over-year. In constant currency, sales are expected to rise by 6%, driven by their Consumer and Flavor Solutions segments. However, Q3 operating income is projected at $223 million, down from $265 million in 2021, with adjusted earnings per share anticipated to be $0.65, compared to $0.80 last year. McCormick also updated their 2022 outlook, forecasting sales growth of 0-2%, impacted by currency fluctuations and rising costs.

McCormick & Company (NYSE: MKC) will host a conference call on October 6, 2022, at 8:00 a.m. ET to discuss its third quarter 2022 financial results. Key executives including Lawrence Kurzius (Chairman & CEO), Brendan Foley (President & COO), Mike Smith (CFO), and Kasey Jenkins (Chief Strategy Officer) will lead the discussion. A live audio webcast and presentation materials will be accessible on McCormick's investor relations website. The replay will be available until October 27, 2022.

McCormick & Company (NYSE: MKC) will participate in the Barclays Global Consumer Staples Conference on September 8, 2022, at 11:15 a.m. EDT. Key representatives include Lawrence Kurzius (Chairman & CEO), Brendan Foley (President & COO), and Mike Smith (EVP & CFO). A live audio webcast will be accessible on the company’s website, with an archived version available later. McCormick is a global leader in flavor with over $6 billion in annual sales across 170 countries.