McCormick's stock surged 5.04% during intraday trading on Thursday, following the release of its second-quarter financial results that exceeded analyst expectations.
The company reported adjusted earnings per share of $0.80, beating the consensus estimate of $0.69. Revenue for the quarter rose to $1.94 billion, also surpassing the expected $1.91 billion. The strong performance was driven by higher pricing for its spices and condiments, which helped offset rising commodity costs, and sustained demand as consumers continue to cook more at home amid economic uncertainty.
Additional positive factors included a contribution from its Mexican acquisition, which supported sales growth, and a one-time tariff refund that reduced the cost of goods sold by $28 million. McCormick also reaffirmed its full-year 2026 outlook, projecting sales growth of 13% to 17% and adjusted EPS in the range of $3.05 to $3.13, while reporting strong progress on its planned integration with Unilever's food business.