McCormick sees FY26 adjusted EPS $3.05-$3.13, consensus $3.20

Sees FY26 revenue up 13%-17%. Sees FY26 adjusted operating income 16%-20%. The company said, “The Company expects foreign currency rates to favorably impact net sales by 1%, adjusted operating income by 1%, and adjusted earnings per share by 1%. For fiscal 2026, the Company expects strong cash flow driven by profit and working capital initiatives and anticipates returning a significant portion of cash flow to shareholders through dividends. The Company’s outlook for 2026 adjusted operating income and adjusted earnings per share are non-GAAP financial measures that exclude or otherwise adjust for items impacting comparability of financial results. The Company is unable to reconcile its projected adjusted operating income to its projected reported operating income for 2026 because it cannot reasonably predict the amount of special charges, including transaction and integration expenses during this time period. The Company expects 2026 transaction and integration expenses to include a step-up in inventory to fair value related to the recent acquisition of an additional 25% ownership interest in McCormick (MKC) de Mexico. This step-up will be recognized in cost of goods sold as the related inventory is sold.”