Mccormick & Co Inc

Company facts

Industry

Miscellaneous Food Preparations & Kindred Products

Headquarters

Hunt Valley, Maryland

Most recent report

10-Q, filed Oct 1, 2026

Incorporated

Maryland

Filings on record

1,000+ filings

On EDGAR

CIK 63754

Fiscal year ends

November

Filer status

Large accelerated filer

What to read: Aug 2026 10-Q

SECSift found 4 of 12 sections worth reading, with 0 positive, 11 notable, and 6 negative flags.

• Financial Statements (Item 1)

  Pending transformative merger, huge special charges, Mexico acquisition, tariff refund.
  Notable

  • Tariff refund of $30.8M recognized; $27.6M reduced COGS in Q2 2026; $29.2M already received.
  • McCormick de Mexico acquisition closed Jan 2026: paid $750M for 25% stake, now controls 75%, adding $655.4M net sales in nine months.
  • Non-cash gain of $866.8M on remeasurement of previously held 50% equity interest in McCormick de Mexico upon consolidation.
  Negative

  • Pending Unilever merger dilutes current shareholders to 35% ownership and adds $15.7B debt; closing conditions include antitrust approvals.

• Management's Discussion (Item 2)

  Pending $15.7B Unilever merger dilutes owners to 35%; organic sales slow, core US declines.
  Notable

  • Adjusted effective tax rate expected to rise to 24.0% from 21.5%, compressing adjusted EPS growth (FY2026 outlook).
  • Adjusted EPS guidance $3.05-$3.13 vs $3.00 prior year, implying just 2-5% growth despite acquisition boost (FY2026 outlook).
  Negative

  • Pending Unilever deal: current McCormick shareholders get ~35% of combined entity, Unilever shareholders get ~55% (Q3 2026).
  • Special charges hit $141.5M in Q3 ($226.6M YTD), including $43.1M asset impairment and $95.3M transaction costs (Q3 2026).
  • Organic net sales grew only 1.9% in Q3; Americas Consumer organic sales fell 0.3% as volumes dropped 2.5% (Q3 2026).

• Legal Proceedings (Item 1)

  Entire section details pending Unilever Foods deal with specific dilution and debt risks.
  Notable

  • The conflict in the Middle East is highlighted as a risk due to potential energy price and supply chain disruptions.
  • If the deal fails to close, McCormick could owe Unilever a termination fee under certain circumstances.
  Negative

  • McCormick expects a 'substantial amount of debt' from the deal, which could limit future flexibility and ability to return capital.
  • Existing shareholders would own just 35% after the deal, with Unilever holding ~65% (55.1% + up to 9.9% retained).

• Exhibits (Item 6)

  Lists a pending merger and new financing; essential context for the quarter.
  Notable

  • Merger agreement with Unilever PLC, dated March 31, 2026, marks a transformative acquisition for McCormick.
  • Term loan agreement dated April 28, 2026, with Citibank as agent, likely financing for the Unilever acquisition.
  • New 4.15% Notes due 2029 were issued in February 2026, adding long-term debt.
  • New Form of Retention Award Agreement filed herewith, indicating potential executive compensation changes.

What changed: Aug 2026 vs. May 2026

About 4% of MKC's Aug 2026 10-Q is new information. 17 paragraphs were added, 191 changed, and 36 removed. Below are the most important lines SECSift identified.

• Item 1 85
• Item 2 70
• Item 6 7
• Item 4 2