McCormick & Co. (MKC) Investor Day Financial Highlights

McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, yesterday held an Investor Day at the company's Global Headquarters in Hunt Valley, Maryland. Brendan M. Foley, President and CEO, along with members of McCormick's leadership team shared plans to drive sustainable growth by leveraging its competitive advantages and successfully executing on its proven strategies.

Investor Day Financial Highlights

• McCormick reaffirmed all components of its 2024 Outlook which was previously announced on October 1, 2024 during its earnings call. The Company anticipates achieving the mid to high-end of its projected Net Sales growth range and the high-end of its adjusted earnings per share range for 2024.
  
• McCormick expects 2025 to be a year of continued momentum supported by the effectiveness of its 2024 prioritized investments. The Company anticipates volume growth in-line with its organic long-term growth objective. The Company also expects to drive margin improvement and profitability growth rates closer to its long-term objectives.
  
• McCormick reaffirmed its long-term growth objectives for Net Sales of 4% to 6%, Operating Income of 7% to 9%, and Earnings Per Share of 9% to 11%. The Company expects to achieve these objectives, at the low end, on a compounded annual growth rate basis over the five-year period ending 2028, without the benefit of acquisitions. The Company expects to reach at least $8 billion in annual Net Sales by 2028.

Brendan M. Foley, President and CEO, stated "McCormick is flavor. It is our history, and it is our future. Our business is differentiated from others in the industry as we do not compete for calories, we flavor them. We have robust plans that leverage the demand for flavor and the strength of our brands. We are increasing our investments in the core categories that drive the greatest value for McCormick.

Our strategies have proven to be effective by driving growth and compounding that growth over the years. It takes a great organization, a strong culture of growth, and a great leadership team to deliver performance. I am confident we have the right leadership team in place and engaged employees globally to deliver on our long-term objectives with industry leading performance."

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