Mccormick & Co Stock Price, News & Analysis

McCormick (NYSE: MKC) reported a 1% sales decline for Q2 2022, with operating income down to $157 million from $237 million YoY. Earnings per share fell to $0.44, compared to $0.68 in the previous year. Adjusted earnings were $0.48 versus $0.69. The company faced challenges from inflation, COVID-related lockdowns in China, and the conflict in Ukraine, which impacted results. McCormick updated its 2022 outlook, projecting 3-5% sales growth, and adjusted EPS between $2.89 and $2.94. The business remains confident in its long-term growth despite current pressures.

The Board of Directors of McCormick & Company has declared a quarterly dividend of $0.37 per share, payable on July 25, 2022, to shareholders of record as of July 11, 2022. This marks a 9% increase from the previous annual dividend of $1.36 per share. Notably, this is the 98th consecutive year of dividend payments by the company. McCormick, a leader in flavor, generates over $6 billion in annual sales across 170 countries, highlighting its strong presence and commitment to providing quality products.

McCormick & Company (NYSE: MKC) will host a conference call on June 29, 2022, at 8:00 a.m. Eastern Time, to discuss its second quarter fiscal 2022 results. Key executives, including Chairman & CEO Lawrence Kurzius and CFO Mike Smith, will be present. Investors can listen live via the company's investor relations website ir.mccormick.com. An audio replay will be available until July 20, 2022, using the conference ID 13730100.

McCormick & Company (NYSE: MKC) will participate in the 2022 Deutsche Bank dbAccess Global Consumer Conference on June 14, 2022, at 10:30 a.m. CEST / 4:30 a.m. EDT, in Paris, France. Presenting will be Lawrence Kurzius (Chairman, President & CEO), Mike Smith (Executive VP & CFO), and Brendan Foley (President, Global Consumer, Americas & Asia). The event will be available via live webcast on McCormick's website and archived for later access. As a leading flavor company with over $6 billion in annual sales, McCormick is committed to providing flavorful products worldwide.

McCormick & Company awarded two $40,000 scholarships to Maria Uben and Wesley Beckett, recognized as Unsung Heroes, during a virtual event on May 10, 2022. This year, a total of $105,000 in scholarships was given to deserving student-athletes. McCormick's Unsung Heroes program, founded in 1940, honors those who contribute significantly to their teams without recognition. The company has awarded over $2 million in scholarships to date. McCormick, a global leader in flavor with $6 billion in annual sales, remains committed to supporting educational initiatives.

McCormick & Company (NYSE: MKC) will hold its 82nd annual Unsung Heroes Awards Ceremony virtually on May 9, 2022. The company has awarded over $2 million in scholarships to deserving student-athletes. This year, 98 high school seniors from 62 schools in the Baltimore area have been nominated. Two scholarships worth $40,000 each over four years will be awarded, along with additional $7,500 and $5,000 scholarships, totaling $105,000. Former volleyball player Victoria Garrick will keynote the event, emphasizing the importance of recognizing unheralded student-athletes.

McCormick & Company, a global leader in flavor, announced the appointment of Brendan Foley as Chief Operating Officer and President, effective June 1, 2022. In his new role, he will oversee all business units and the worldwide supply chain. Foley joined McCormick in 2014 and has significantly contributed to the company's growth, previously holding key positions, including President Global Consumer, Americas, and Asia. McCormick, established in 1889, generates over $6 billion in annual sales in 170 countries.

McCormick & Company (NYSE: MKC) has declared a quarterly dividend of $0.37 per share, payable on April 25, 2022, for shareholders of record as of April 11, 2022. This represents a 9% increase from the $1.36 annual dividend in 2021, bringing the annualized rate to $1.48. The company celebrates its 98th consecutive year of dividend payments, underscoring its commitment to returning income to shareholders.

McCormick reported a 3% sales increase for Q1 2022, with constant currency growth of 4%. Operating income fell to $207 million from $236 million YoY. The company also saw a decrease in adjusted EPS to $0.63 from $0.72. The decline in profit was largely due to higher inflation and supply chain challenges. However, McCormick maintains its fiscal outlook, projecting 3% to 5% sales growth and earnings per share of $3.07 to $3.12 for 2022, driven by brand marketing and pricing strategies.