McCormick & Co reported a 14% increase in total sales in constant currency for its fiscal second quarter, with 12 percentage points coming from the McCormick de Mexico acquisition and 2 percentage points from organic growth. Gross profit margin expanded by 270 basis points, helped by the acquisition, a tariff refund, and savings from the company's Comprehensive Continuous Improvement program. Adjusted operating income rose 30%, or 27% in constant currency, and adjusted earnings per share reached $0.80, a 16% increase from the prior year. The Consumer segment grew 20% in constant currency, including 1% organic growth, while Flavor Solutions grew 6% in constant currency, with 3% organic growth. Cash flow from operations for the first half was $431 million, up from $161 million a year earlier, and the leverage ratio stood at approximately 2.9 times at quarter-end.
McCormick & Company IncorporatedMcCormick reported strong Q2 results with sales up 14%, margin expansion, and EPS growth of 16%.