The earnings call highlighted strong volume growth in the consumer segment, gross margin expansion, and positive performance in Flavor Solutions. However, challenges in the China market, softness in CPG and QSR volumes, and geopolitical factors in EMEA present concerns. While the company achieved strong earnings growth, there are significant challenges ahead, particularly in specific regions and segments.

Company Guidance

During the McCormick Q4 2024 earnings call, the company provided guidance reflecting a focus on organic growth driven largely by volume, with organic sales projected to grow between 1% and 3% in 2025. This growth is anticipated to be primarily volume-led, with minimal contribution from pricing. The company expects gross margin expansion of 50 to 100 basis points, supported by favorable product mix and cost savings from their continuous improvement program, despite a low single-digit increase in cost inflation. McCormick's brand marketing spend is projected to increase in the high single digits, aligning with their strategic investments to drive long-term profitable growth. The adjusted operating income is expected to grow 4% to 6% in constant currency, while adjusted earnings per share is projected to grow between 5% and 7% on a constant currency basis, considering a currency headwind and an increased tax rate. The company also noted potential challenges, including the macroeconomic environment in China and softness in certain customer volumes, which could influence the lower end of their guidance range.

Strong Volume Growth in Consumer Segment

Global consumer segment demonstrated strong volume growth, with a 4% increase in the fourth quarter and 5% volume growth in the Americas consumer segment year-over-year.

Expansion in EMEA Markets

EMEA markets showed positive volume growth with a 5% volume increase in the consumer segment and sustained growth momentum in 2024.

Gross Margin Expansion

Gross profit margin expanded by 20 basis points in Q4 and by 90 basis points for the year, driven by cost-saving initiatives from the CCI program.

Strong Performance in Flavor Solutions

Flavor Solutions segment saw a 5% increase in adjusted operating income, with a 14% growth in operating income for the fiscal year.

Adjusted Earnings Per Share Growth

For the year, adjusted earnings per share increased by 9% to $2.95, exceeding the high end of the guidance range.

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McCormick & Company (MKC) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MKC Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 27, 2018	2018 (Q3)	- / 0.64	0.56	14.29% (+0.08)	―	―
Jan 24, 2019	2018 (Q4)	- / 0.83	0.77	8.44% (+0.06)	―	―
Mar 26, 2019	2019 (Q1)	- / 0.56	0.5	12.00% (+0.06)	―	―
Jun 27, 2019	2019 (Q2)	- / 0.58	0.51	13.73% (+0.07)	―	―
Oct 01, 2019	2019 (Q3)	- / 0.73	0.64	14.06% (+0.09)	―	―
Jan 28, 2020	2019 (Q4)	- / 0.81	0.835	-3.59% (-0.03)	―	―
Mar 31, 2020	2020 (Q1)	- / 0.54	0.56	-3.57% (-0.02)	―	―
Jun 25, 2020	2020 (Q2)	- / 0.73	0.58	26.72% (+0.16)	―	―
Sep 29, 2020	2020 (Q3)	- / 0.77	0.73	4.79% (+0.04)	―	―
Jan 28, 2021	2020 (Q4)	- / 0.79	0.805	-1.86% (-0.02)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MKC Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 23, 2025	$73.24	$74.76	+2.08%
Oct 01, 2024	$81.39	$83.16	+2.17%
Jun 27, 2024	$66.53	$69.41	+4.33%
Mar 26, 2024	$68.38	$75.58	+10.53%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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