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McCormick (MKC) Q2 FY25 earnings results (second quarter fiscal 2025)
10-Q filed Jun 26, 2025
McCormick (MKC) reported revenue of $1.7B for the second quarter fiscal 2025 (Q2 FY25), +1% from a year earlier and +3% from the quarter before. Operating margin was 14.8%, net earnings $175M (10.5% of revenue).
McCormick, Q2 FY25: revenue $1.7B (+1% year over year), operating margin 14.8%, net earnings $175M, operating cash flow $45.9M. The chart follows the revenue to costs, profit and cash.
| Q2 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +3% | +1% |
| Gross profit | $623M | +3% | +0.5% |
| Operating profit | $246M | +9% | +5% |
| Net earnings | $175M | +8% | -5% |
| Operating cash flow | $45.9M | -60% | -72% |
What changed
Revenue was $1.7B in Q2 FY25, up 1% year over year and up 3% from the previous quarter. Consumer was the largest line at 56% of revenue. Consumer added $0.03B year over year (up 3%), 160% of the total change. Flavor Solutions declined 1%.
Gross margin was 37.5%, down 0.2 points from a year earlier. Operating profit was $0.25B, a 14.8% margin (up 0.6 points year over year). Of the extra revenue versus a year earlier, 72% reached operating profit, above the 14% margin then. Operating expenses fell 2% while revenue rose 1%. The fastest-growing cost line was Other operating costs (+611%). Net earnings were $0.17B, down 5% year over year. The effective tax rate was 21.9%.
Operating cash flow was $0.05B (down 72% year over year), 26% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.20B. Capital expenditures of $0.05B exceeded it, leaving free cash flow of −$2.4M.
Questions
What was McCormick's revenue in the second quarter fiscal 2025?
McCormick (MKC) reported revenue of $1.7B for the second quarter fiscal 2025 (Q2 FY25), +1% from a year earlier and +3% from the quarter before.
Was McCormick profitable in the second quarter fiscal 2025?
Operating profit was $246M (14.8% of revenue) and net earnings $175M.
Source: McCormick 10-Q on SEC EDGAR.