McCormick (MKC) Q2 FY2026 earnings: revenue $1.9 billion, up 16.7% on the year

McCormick & Co. Inc. (MKC) reported revenue of $1.9 billion for Q2 FY2026, the quarter ended 31 May 2026, up 16.7% on the same quarter a year earlier. Net income was $150 million, down 14.2% on the year, and diluted earnings per share $0.56. The figures are the company's own, from the 10-Q it filed with the SEC on 25 June 2026.

Revenue

$1.9 billion

+16.7% on the year · +3.3% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

14.3%

14.8% a year earlier

Q3 FY2024Q2 FY2026

Net income

$150 million

-14.2% on the year · -85.2% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$0.56

-13.8% on the year · -85.1% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 new, 7 kept.

Net sales rose 16.7% on acquisition: Reported net sales were $1,936.6 million, up 16.7%. The acquisition added 12.3%, currency 2.7% and organic growth 1.7%. Constant currency growth was 14.0%.
Adjusted operating income up 30%: Adjusted operating income was $336.4 million, up 30.1% from $258.6 million. Adjusted operating margin was 17.4%, up 180 basis points. Reported operating income was $276.4 million.
Flavor Solutions organic sales up 3%: Flavor Solutions net sales were $794 million, up 9%, with organic growth of 3%, driven nearly equally by price and volume/mix.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	1,937	1,874	1,660	+3.3%	+16.7%
Cost of revenue	1,158	1,165	1,037	-0.6%	+11.7%
Gross profit	778	709	623	+9.8%	+25.0%
Gross margin	40.2%	37.8%	37.5%
Selling, general and administrative	442	456	364	-3.2%	+21.3%
Operating income	276	228	246	+21.5%	+12.4%
Operating margin	14.3%	12.1%	14.8%
Interest expense	62.7	47.3	51.0	+32.6%	+22.9%
Pre-tax income	220	185	205	+19.0%	+7.6%
Income tax	63.5	48.7	49.3	+30.4%	+28.8%
Effective tax rate	28.8%	26.3%	24.1%
Net income	150	1,016	175	-85.2%	-14.2%
Net margin	7.8%	54.2%	10.5%
Diluted EPS	$0.56	$3.77	$0.65	-85.1%	-13.8%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	380	50.9	45.9	+646.2%	+727.5%
Capital expenditure	42.7	32.5	48.3	+31.4%	-11.6%
Free cash flow	337	18.4	-2.4	+1,732.1%
Free cash flow margin	17.4%	1.0%	-0.1%
Cash from investing	-42.7	-762	-68.1
Cash from financing	-179	782	12.3
Depreciation and amortisation	73.5	63.0	57.1	+16.7%	+28.7%
Share-based compensation	8.6	20.7	9.6	-58.5%	-10.4%
Buybacks	0.0	10.9	9.3
Dividends paid	129	129	121	+0.1%	+6.8%
Dividend per share	$0.48	$0.48	$0.45	0.0%	+6.7%
Diluted shares, weighted	269m	269m	269m	-0.1%	-0.1%
Shares outstanding at period end	269m	269m	268m	+0.0%	+0.2%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	6,996	6,980	5,601	+0.2%	+24.9%
Non-controlling interest	578	576	29.0	+0.3%	+1,892.1%
Debt	4,934	4,923	4,455	+0.2%	+10.7%
Other liabilities	3,970	3,867	3,105	+2.7%	+27.9%
Total liabilities and equity	16,477	16,346	13,190	+0.8%	+24.9%
Fixed assets	1,504	1,510	1,417	-0.4%	+6.1%
Goodwill	6,292	6,316	5,292	-0.4%	+18.9%
Intangible assets	4,938	4,962	3,309	-0.5%	+49.2%
Cash and equivalents	331	178	124	+86.4%	+166.9%
Receivables	709	829	584	-14.4%	+21.4%
Other assets	2,703	2,551	2,464	+6.0%	+9.7%
Total assets	16,477	16,346	13,190	+0.8%	+24.9%

Questions

What was McCormick's revenue in Q2 FY2026?

McCormick (MKC) reported revenue of $1.9 billion for Q2 FY2026, the quarter ended 31 May 2026, up 16.7% on the same quarter a year earlier.

How much did McCormick earn in Q2 FY2026?

Net income for Q2 FY2026 was $150 million, down 14.2% on the year, and diluted earnings per share $0.56.

When did McCormick report Q2 FY2026 results?

McCormick filed its 10-Q for the quarter ended 31 May 2026 with the SEC on 25 June 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,730	1,522	1,537	1,596	1,696	1,566	1,659	1,685	1,753	1,603	1,643	1,680	1,798	1,606	1,660	1,725	1,850	1,874	1,937	2,025
Cost of revenue	1,027	962	1,014	1,029	1,071	1,003	1,044	1,062	1,052	1,003	1,024	1,030	1,076	1,002	1,037	1,080	1,130	1,165	1,158	1,230
Gross profit	703	560	523	567	624	563	616	623	701	599	620	650	722	604	623	645	720	709	778	795
Gross margin	41%	37%	34%	36%	37%	36%	37%	37%	40%	37%	38%	39%	40%	38%	38%	37%	39%	38%	40%	39%
SG&A	399	333	349	328	346	336	380	372	390	362	384	362	414	379	364	352	405	456	442	436
Operating income	276	207	157	235	264	199	222	245	297	234	234	286	306	225	246	289	311	228	276	217
Operating margin	16%	14%	10%	15%	16%	13%	13%	15%	17%	15%	14%	17%	17%	14%	15%	17%	17%	12%	14%	11%
Interest expense	33.3	33.1	33.7	37.9	44.4	50.6	52.2	52.7	52.7	50.3	52.9	53.5	52.7	48.5	51.0	50.2	46.5	47.3	62.7	68.4
Pre-tax income	248	180	130	275	228	160	182	199	258	194	194	246	264	186	205	248	274	185	220	154
Tax rate	23%	19%	17%	22%	23%	22%	22%	21%	22%	26%	14%	17%	25%	22%	24%	16%	24%	26%	29%	32%
Net income	197	155	118	223	186	139	152	170	219	166	184	223	215	162	175	226	227	1,016	150	97.6
Net margin	11%	10%	8%	14%	11%	9%	9%	10%	13%	10%	11%	13%	12%	10%	11%	13%	12%	54%	8%	5%
Diluted EPS	$0.73	$0.57	$0.44	$0.82	$0.69	$0.52	$0.56	$0.63	$0.81	$0.62	$0.68	$0.83	$0.80	$0.60	$0.65	$0.84	$0.84	$3.77	$0.56	$0.36
Operating cash flow	455	17.9	136	95.7	401	103	291	266	577	138	163	162	459	116	45.9	259	542	50.9	380	168
Capital expenditure	88.1	43.7	57.9	65.2	95.2	61.5	57.1	68.6	76.7	62.0	68.3	59.0	85.6	37.1	48.3	52.7	83.7	32.5	42.7	56.0
Free cash flow	367	-25.8	78.6	30.5	306	41.9	234	197	500	76.4	94.8	103	373	78.4	-2.4	206	458	18.4	337	112
Buybacks	5.4	8.7	4.2	13.2	12.7	3.5	15.1	8.1	9.0	0.3	4.2	24.5	24.1	17.2	9.3	2.7	5.6	10.9	0.0	0.0
Dividends paid	90.9	99.0	99.2	99.3	99.2	105	105	105	105	113	113	113	113	121	121	121	121	129	129	129
Shares outstanding	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	268m	268m	268m	268m	268m	269m	269m	269m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 May 2026, filed 25 June 2026: the filing.