McCormick & Company Incorporated


SKU: MKC Category:


McCormick had a disappointing quarterly result as it failed to meet Wall Street expectations despite the fact that its revenues showed both volume and pricing growth. The growth of the company in flavor solutions was decent but supply chain and high-cost inflation are continuing challenges for the company. The pricing actions of the company in APZ and EMEA are on track. The total branded portfolio consumption in the U.S grew. Demand remained high, and McCormick realized the advantages of the manufacturing capacity it added and its increased resilience. The condition of the Shelf continues to improve, as viewed in the recipe mix share performance. Shortage of certain organic spices and packaging materials, the share of seasoning and spices was pressured. In EMEA, McCormick continues to have a robust share performance in most markets and categories. In both EMEA regions and America, the growth of branded food service was quite strong, driven by institutional and restaurant food service customers. We provide the stock of McCormick a ‘Hold’ rating with a revision in the target price.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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