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McCormick (MKC) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Mar 31, 2026
McCormick (MKC) reported revenue of $1.9B for the first quarter fiscal 2026 (Q1 FY26), +17% from a year earlier and +1% from the quarter before. Operating margin was 12.1%, net earnings $1.0B (54.2% of revenue).
McCormick, Q1 FY26: revenue $1.9B (+17% year over year), operating margin 12.1%, net earnings $1.0B, operating cash flow $50.9M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.9B | +1% | +17% |
| Gross profit | $709M | -2% | +17% |
| Operating profit | $228M | -27% | +1% |
| Net earnings | $1.0B | +348% | +526% |
| Operating cash flow | $50.9M | -91% | -56% |
| Free cash flow | $18.4M | -96% | -77% |
What changed
Revenue was $1.9B in Q1 FY26, up 17% year over year and up 1% from the previous quarter.
Gross margin was 37.8%, up 0.2 points from a year earlier. Operating profit was $0.23B, a 12.1% margin (down 1.9 points year over year). Of the extra revenue versus a year earlier, 1% reached operating profit, below the 14% margin then. Operating expenses grew 27% against revenue growth of 17%. Net earnings were $1.0B, up 526% year over year. The effective tax rate was 4.5%. Non-operating items added $0.84B, 79% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $0.05B (down 56% year over year), 5% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $1.1B. Capital expenditures of $0.03B left free cash flow of $0.02B.
Questions
What was McCormick's revenue in the first quarter fiscal 2026?
McCormick (MKC) reported revenue of $1.9B for the first quarter fiscal 2026 (Q1 FY26), +17% from a year earlier and +1% from the quarter before.
Was McCormick profitable in the first quarter fiscal 2026?
Operating profit was $228M (12.1% of revenue) and net earnings $1.0B.
Source: McCormick 10-Q on SEC EDGAR.