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McCormick (MKC) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Oct 7, 2025
McCormick (MKC) reported revenue of $1.7B for the third quarter fiscal 2025 (Q3 FY25), +3% from a year earlier and +4% from the quarter before. Operating margin was 16.7%, net earnings $226M (13.1% of revenue).
McCormick, Q3 FY25: revenue $1.7B (+3% year over year), operating margin 16.7%, net earnings $226M, operating cash flow $259M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | +4% | +3% |
| Gross profit | $645M | +4% | -0.7% |
| Operating profit | $289M | +17% | +0.8% |
| Net earnings | $226M | +29% | +1% |
| Operating cash flow | $259M | +464% | +60% |
| Free cash flow | $206M | — | +101% |
What changed
Revenue was $1.7B in Q3 FY25, up 3% year over year and up 4% from the previous quarter. Consumer was the largest line at 56% of revenue. Consumer added $0.04B year over year (up 4%), 79% of the total change.
Gross margin was 37.4%, down 1.3 points from a year earlier. Operating profit was $0.29B, a 16.7% margin (down 0.3 points year over year). Of the extra revenue versus a year earlier, 5% reached operating profit, below the 17% margin then. Operating expenses fell 2% while revenue rose 3%. The fastest-growing cost line was Other operating costs (+105%). Net earnings were $0.23B, up 1% year over year. The effective tax rate was 14.7%.
Operating cash flow was $0.26B (up 60% year over year), 114% 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 $0.04B. Capital expenditures of $0.05B left free cash flow of $0.21B.
Questions
What was McCormick's revenue in the third quarter fiscal 2025?
McCormick (MKC) reported revenue of $1.7B for the third quarter fiscal 2025 (Q3 FY25), +3% from a year earlier and +4% from the quarter before.
Was McCormick profitable in the third quarter fiscal 2025?
Operating profit was $289M (16.7% of revenue) and net earnings $226M.
Source: McCormick 10-Q on SEC EDGAR.