McCormick & Company reported strong first‑quarter 2026 results and announced a transformative deal with Unilever’s Foods business. Net sales rose 16.7% to $1,873.9 million, driven mainly by consolidating McCormick de Mexico, favorable pricing, and currency tailwinds.
Operating income was $227.5 million, up 1.0%, while adjusted operating income excluding special charges grew 18.8% to $267.6 million. Reported diluted EPS jumped to $3.77, largely from an $866.8 million gain remeasuring McCormick de Mexico; adjusted diluted EPS increased to $0.66.
On January 2, 2026, McCormick paid $750 million for an additional 25% of McCormick de Mexico, reaching 75% ownership and recording $1,600 million of new intangibles and $942 million of goodwill. On March 31, 2026, it agreed to merge with Unilever Foods, with Unilever shareholders expected to own about 55.1% of the combined company and Unilever to receive a $15.7 billion cash payment backed by a committed 364‑day bridge facility of the same size.
McCormick & Company reported a strong start to fiscal 2026, with first quarter net sales rising 16.7% to $1.87 billion, including a 3.1% currency benefit and a 13% contribution from the McCormick de Mexico acquisition. Organic sales grew 1.2%, mainly from pricing.
Gross profit increased to $708.9 million and adjusted gross margin expanded by 100 basis points. Operating income was $227.5 million, while adjusted operating income grew 18.8% to $267.6 million, helped by acquisition accretion, pricing and CCI cost savings.
Diluted earnings per share jumped to $3.77, driven by a large non-cash gain on remeasurement of the prior McCormick de Mexico stake. Adjusted diluted EPS rose to $0.66 from $0.60. The company reaffirmed its 2026 outlook, including net sales growth of 13% to 17% and adjusted EPS of $3.05 to $3.13.
McCormick & Company (MKC): The Vanguard Group filed an amendment to Schedule 13G reporting 0 shares beneficially owned and 0% of McCormick common stock following an internal realignment effective January 12, 2026. The filing states certain Vanguard subsidiaries will report beneficial ownership separately and that The Vanguard Group, Inc. no longer is deemed to beneficially own those subsidiary-held securities.
McCormick & Company, Incorporated filed an update related to its Investor Services Plan. The company provided a legal opinion from Wilmer Cutler Pickering Hale and Dorr LLP on the validity of its common stock and non-voting common stock offered under the plan, which are registered on an existing Form S-3 shelf. A related prospectus supplement for the plan offering was filed on March 26, 2026, and the filing includes the law firm’s opinion and consent as exhibits.
McCormick & Company, Incorporated offers participation in its Investor Services Plan and registers 223,898 shares of Common Stock and 580,870 shares of Common Stock Non-Voting available for issuance under the Plan as of March 26, 2026. The Plan permits dividend reinvestment, optional cash investments, purchases of newly issued shares or open-market shares, and automated account services. New investors may enroll with a minimum initial purchase of $500; ongoing optional cash investments start at $50 with annual limits of $50,000 for Non-Voting Stock and $12,000 for Voting Stock. Plan purchases generally occur within five business days of an investment date; dividend reinvestments occur on the dividend payment date (or within 30 trading days). Fees include a one-time enrollment fee of $15, trading commissions of $0.06 per share for purchases and $0.12 per share for sales, and specified sale order service fees. The Plan is administered by Equiniti Trust Company, LLC, and stock issued under the Plan is registered under the Securities Act.
McCormick & Co. vice president and general counsel Jeffery D. Schwartz reported routine equity compensation activity involving McCormick & Co. common stock. On February 15, 2026, he exercised awards to acquire 4,126 shares of voting common stock, with no purchase price required as they were restricted stock units.
On the same date, 6,340 shares and 1,276 shares were withheld to cover tax obligations at a value of $71.61 per share, for a total of 7,616 shares disposed through tax-withholding transactions rather than open-market sales. Following these transactions, Schwartz directly held 87,818 shares of McCormick & Co. voting common stock. The Form 4 amendment states it was filed solely to correct an earlier administrative error in the reported beneficial ownership amount.
McCormick & Co Inc Chief Human Relations Officer Sarah Piper reported compensation-related share activity and a correction to prior ownership figures. On 2026-02-15, she exercised derivative awards to acquire 2,230 shares of voting common stock, with no purchase price required as they were restricted stock units.
On the same date, a total of 2,844 shares were withheld at a price of $71.61 per share to satisfy tax obligations tied to awards previously reported on 01/21/2026 under McCormick’s Long-Term Incentive Plan. One line in the filing shows that, after these transactions, she directly owned 9,017.040 shares of common stock. The amendment states it was filed solely to correct an administrative error that had misreported the amount of securities beneficially owned.
MCCORMICK & CO INC Chief Human Relations Officer Sarah Piper received a grant of phantom stock as part of her compensation. On March 16, 2026, she acquired 369.584 phantom stock units under a Non Qualified Retirement Savings Plan, each tied to one share of Common Stock - Voting.
After this grant, her indirect holdings in phantom stock total 4,390.204 units. The filing also reports 8,063.040 shares of Common Stock - Voting held directly. This is a routine compensation-related award rather than an open-market purchase or sale.
Foley Brendan M reported acquisition or exercise transactions in this Form 4 filing.
McCormick & Co. Chairman, President & CEO Brendan M. Foley received a grant of 684.220 phantom stock units on Common Stock - Voting. The award was recorded at a price of $0.0000 per unit and is held indirectly through a Non Qualified Retirement Savings Plan.
Each phantom stock unit represents the right to receive one share of Common Stock - Voting, payable in accordance with the plan’s terms. After this grant, Foley holds 13,634.183 phantom stock units. As of the same date, he also holds 130,056.016 shares of Common Stock - Voting and 1,383.460 shares of Common Stock - Non Voting directly.
McCormick & Company, Incorporated announced a planned transition in its principal accounting leadership. Gregory P. Repas, Vice President & Controller and the company’s Principal Accounting Officer, plans to retire effective July 1, 2026 and will step down from his roles on April 1, 2026, assisting with the transition until retirement.
Effective April 1, 2026, Julie Giese, age 46, will become Vice President & Controller and Principal Accounting Officer. She joined McCormick in August 2024 after serving as Director of Accounting for Pepco Holdings LLC. In her new role she will receive an annual base salary of $400,000 and continue to participate in the company’s incentive, retirement, and benefits programs.