McCormick & Company Inc. (NYSE:MKC) on Thursday reported second-quarter results that exceeded Wall Street expectations.
The company reported second-quarter net sales of $1.937 billion, up 16.7% from a year earlier and above the consensus estimate of $1.912 billion. Adjusted earnings came in at 80 cents per share, topping analysts’ expectations of 69 cents.
McCormick affirmed its fiscal 2026 adjusted earnings guidance of $3.05 to $3.13 per share, compared with analysts’ estimate of $3.09. The company also maintained its sales outlook of $7.73 billion to $8.00 billion, versus the consensus estimate of $7.88 billion.
CEO Brendan M. Foley said, "Looking ahead to the rest of the year, we expect to sustain the momentum in Flavor Solutions and increase reinvestment to improve Consumer volume trends and organic sales."
McCormick shares rose 5.4% to trade at $50.96 on Friday.
These analysts made changes to their price targets on McCormick following earnings announcement.
- Deutsche Bank analyst Stephen Powers maintained McCormick with a Buy and raised the price target from $59 to $60.
- Bernstein analyst Alexia Howard maintained the stock with an Outperform rating and lowered the price target from $77 to $68.
Considering buying MKC stock? Here’s what analysts think:
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