McCormick & Company (NYSE: MKC) will release third-quarter fiscal year 2026 earnings before the opening bell on Thursday, October 1. Analysts project quarterly earnings of 76 cents per share, a decline from 85 cents per share in the year-ago period.

The consensus estimate for MKC’s quarterly revenue stands at $1.98 billion. This compares to $1.72 billion reported in the corresponding quarter last year, according to Benzinga Pro data. The company is scheduled to host its earnings call following the pre-market release.

Analyst revisions and ratings

Several analysts have adjusted their outlooks on McCormick shares in recent weeks. TD Cowen analyst Robert Moskow downgraded the stock from Buy to Hold and reduced the price target from $60 to $55 on September 14, 2026. This analyst maintains an accuracy rate of 64%.

JP Morgan analyst Thomas Palmer maintained an Overweight rating but cut the price target from $63 to $62 on September 18, 2026. Palmer’s accuracy rate is recorded at 50%. UBS analyst Peter Grom kept a Neutral rating while raising the price target from $51 to $52 on June 26, 2026, with an accuracy rate of 61%. BTIG analyst Rob Dickerson initiated coverage with a Neutral rating on April 14, 2026, holding a 66% accuracy rate.

Recent performance context

On June 25, McCormick reported second-quarter results that exceeded Wall Street expectations. Shares of the Hunt Valley, Maryland-based company gained 1.1% to close at $49.42 on Tuesday.

What the numbers show

The divergence between the projected revenue growth and the declining EPS forecast suggests potential margin compression or increased operational costs in the upcoming quarter. While consensus revenue estimates imply a significant increase over the prior year's $1.72 billion, the expected drop in earnings per share from 85 cents to 76 cents indicates that profitability may not scale linearly with top-line growth.

The UK Competition and Markets Authority (CMA) has opened a Phase 1 invitation to comment on the proposed merger between McCormick and Unilever Foods. This step allows stakeholders to provide their perspectives on the potential competition implications of the deal. A formal investigation into the merger has not yet commenced at this stage.

The CMA's case page serves as the primary channel for interested parties to submit evidence and views. The authority will review the feedback received during this comment period to determine whether a deeper Phase 2 investigation is necessary. The outcome of this assessment will influence the regulatory path for the transaction.

Key Details of the Review

The invitation to comment is a standard preliminary procedure in UK merger assessments. It enables the CMA to identify potential competition concerns early in the process. No decision on the merger's approval or requirement for divestments has been made pending this review.