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McCormick & Company, Incorporated (NYSE: MKC) is a global leader in flavor and has been a trusted name in the industry for over 130 years. Headquartered in Hunt Valley, Maryland, the company manufactures, markets, and distributes a wide array of spices, seasoning mixes, condiments, and other flavorful products to the entire food industry including e-commerce channels, grocery stores, food manufacturers, and food service businesses.
McCormick's broad product portfolio includes popular brands such as McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's, Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club House, Aeroplane, and Gourmet Garden. These products reach consumers in more than 150 countries and territories around the world.
McCormick's commitment to quality and innovation is evident through its extensive partnerships with farmers and suppliers across 40 different countries, guaranteeing year-over-year consistency and great-tasting quality spices. The company’s relentless focus on sustainability and purpose-led performance has embedded itself into its culture, driving significant achievements and growth.
Recent notable developments include the promotion of Brendan Foley to President and CEO effective September 1, 2023, succeeding Lawrence E. Kurzius who will continue as Executive Chairman. Under Kurzius's leadership, the company saw remarkable growth, including top-tier organic sales growth and the acquisitions of iconic brands like Frank's RedHot, French's, and Cholula.
McCormick reported strong financial performance for the fiscal year 2023, with a significant increase in gross profit margin and operating income. The company has raised its profit outlook for fiscal 2024 due to robust demand across its portfolio and successful cost optimization strategies.
In its continuous efforts to stay ahead in a fast-changing world, McCormick recently entered a transformative agreement with Cognizant to manage its global technology infrastructure. This partnership aims to deliver best-in-class user experiences for McCormick's global workforce and accelerate the company's digital transformation journey.
McCormick is guided by its purpose – To Stand Together for the Future of Flavor – envisioning a world united by healthy, sustainable, and delicious food. For more information, visit McCormick Corporation or follow McCormick & Company on Instagram and LinkedIn.
McCormick & Company, Incorporated (NYSE: MKC) will hold a conference call to present its third quarter 2021 financial results on September 30, 2021, at 8:00 a.m. Eastern time. The call will be hosted by Chairman & CEO Lawrence Kurzius, CFO Mike Smith, and VP of Investor Relations Kasey Jenkins. Listeners can access the call live at ir.mccormick.com. An audio replay will be available until October 21, 2021, by calling 877-660-6853 (US) or 201-612-7415 (international). McCormick is a leader in flavors with over $5 billion in annual sales.
McCormick & Company (NYSE: MKC) will engage in a fireside chat at the Barclays Global Consumer Staples Conference on September 8, 2021, at 2:00 p.m. ET. The discussion will feature Lawrence Kurzius, Chairman, President & CEO, and Mike Smith, Executive Vice President & CFO. The session can be accessed live via McCormick's investor relations website and will be archived for future listening. McCormick, a global leader in flavor with over $5 billion in annual sales, produces a wide array of spices and condiments.
McCormick & Company has announced a voluntary recall of several seasoning products due to potential Salmonella contamination. The affected items include McCormick Perfect Pinch Italian Seasoning (1.31 oz and 2.25 oz), McCormick Culinary Italian Seasoning (1.75 lbs), and Frank's RedHot Buffalo Ranch Seasoning (153g). These products were shipped from June 20 to July 21, 2021, to various states and internationally. No illnesses have been reported. Customers are urged to dispose of the products and can contact McCormick for a replacement or refund.
McCormick (NYSE:MKC) reported Q2 2021 sales growth of 11% year-over-year, with an 8% increase in constant currency. Operating income was $237 million, down from $257 million last year, while adjusted operating income fell 1% to $258 million. Earnings per share declined to $0.68 from $0.73. The company raised its 2021 sales outlook to 11%-13%, citing strong consumer trends and acquisitions boosting growth. Despite challenges, McCormick anticipates continued momentum in its diverse portfolio for long-term growth.
On June 29, 2021, McCormick & Company (NYSE:MKC) announced a quarterly dividend of $0.34 per share, payable on July 26, 2021, to shareholders of record by July 12, 2021. This dividend marks a 10% increase from the previous annual dividend of $1.24 per share. Notably, this announcement celebrates the company's 97th consecutive year of dividend payments. McCormick, a global leader in flavor, reported over $5 billion in annual sales across 160 countries.
McCormick & Company (NYSE: MKC) will participate in the Deutsche Bank dbAccess Global Consumer Conference on June 9, 2021, at 1:00 p.m. ET. The event features Lawrence Kurzius, Chairman, President & CEO, and Mike Smith, Executive VP & CFO. Interested parties can listen to the live webcast on the company's investor relations website. Should you miss the live event, an archive will be available online. McCormick is a global leader in flavor, boasting over $5 billion in annual sales and a wide array of popular brands.
McCormick & Company (NYSE: MKC) has been named to the Fortune 500 list, ranking 482. The recognition highlights McCormick's strong performance in revenue growth and strategic execution. Chairman, President, and CEO Lawrence E. Kurzius emphasized the company's focus on supply chain, innovation, and marketing investments to ensure future success. McCormick also received accolades for sustainability and diversity, being featured on multiple prestigious lists. With over $5 billion in annual sales, McCormick continues to be a leader in the flavor industry, serving customers in 160 countries.
McCormick & Company (NYSE: MKC) will host a conference call to discuss its second quarter 2021 financial results on July 1, 2021, at 8:00 a.m. Eastern time. The call will feature insights from Chairman and CEO Lawrence Kurzius, CFO Mike Smith, and VP of Investor Relations Kasey Jenkins. This presentation will be accessible live online, with an archived version available thereafter. McCormick generates over $5 billion in annual sales globally and is a leader in flavors and seasonings.
On May 4, 2021, McCormick & Company (NYSE: MKC) awarded the Charles Perry McCormick Scholarship to Paige Holley and Gregory Toliver, totaling $40,000 over four years. This brings the company's total scholarship contributions to over $1.9 million. The event featured Hall of Fame safety Ed Reed as a keynote speaker and recognized other student-athletes with scholarships ranging from $5,000 to $7,500. The Unsung Heroes program, established in 1940, aims to honor student-athletes for their selfless contributions to their teams.
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