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McCormick & Co Inc Registered Shs Non Vtg MKC Stock Quote

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Morningstar‘s Stock Analysis MKC

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McCormick Falls Victim to Mounting Cost and Macro Pressures, but Competitive Edge Unwavering

Erin Lash, CFA Sector Director

Business Strategy and Outlook

| Erin Lash, CFA |

As the leading player in the $11 billion global spices and seasoning market--with 20% share, 4 times the next-largest operator--McCormick is a valuable partner for retailers. However, competitive and macro headwinds abound. For one, McCormick is facing a pronounced acceleration in costs (related to commodities, packaging, freight, and labor, which management has alluded to as being the highest in the past decade or two) that has ensnarled firms of all stripes. Although it is still toeing the industry line that volumes are holding up, we think consumers (particularly those with lower incomes) will start to tighten spending, given the onslaught of unrelenting angst (including stepped up prices at the pump and rising interest rates).

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Key Statistics MKC

Company Profile MKC

Business Description

In its 130-year history, McCormick has grown to become the leading global manufacturer, marketer, and distributor of spices, herbs, extracts, seasonings, and other flavorings. Beyond end consumers, McCormick's customer base also includes top quick-service restaurants, retail grocery chains, and other packaged food manufacturers, with about 30% of sales generated beyond its home turf to include 150 other countries and territories. In addition to its namesake brand, the firm's portfolio includes Old Bay, Zatarain's, Thai Kitchen, Frank's RedHot, French's, and the recently acquired Cholula brand.

24 Schilling Road, Suite 1
Hunt Valley, MD, 21031
T +1 410 771-7301
Industry Packaged Foods
Most Recent Earnings May 31, 2022
Fiscal Year End Nov 30, 2022
Stock Type Classic Growth
Employees 14,000

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