President, CEO & Chairman, Mccormick
Search every verified Brendan Foley interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Brendan Foley, chairman, president, and CEO of McCormick & Company, stated on the company’s second quarter 2026 earnings call that the company delivered “robust sales growth, expanded underlying margins, and increased earnings,” which he attributed to the “underlying strength and resilience” of the business. He noted that total results were supported by the McCormick de México transaction. Foley described the current operating environment as one of “macro whack-a-mole,” referencing ongoing geopolitical volatility, elevated fuel costs, and persistent inflation that he said continue to weigh on consumer confidence. He observed a “more pronounced move towards value” among consumers as rising gas prices impacted budgets. Foley said the company expects “mid to high single-digit adjusted EPS accretion within the first 12 months post close, and mid to high teens accretion in year three” from the acquisition. He also stated that the company plans to use the majority of a tax refund to offset higher costs related to tariffs. Foley highlighted that the company generated $431 million in cash flow in the first half of the year and closed the quarter with a leverage ratio of 2.9 times, even after incurring additional debt for the acquisition, which he described as following the company’s “playbook about acquiring and paying down debt quickly.”
“Geopolitical volatility, elevated fuel costs, and persistent inflation continue to weigh on consumer confidence. While affordability has been a consistent theme, the key shift this quarter, particularly given rising gas prices impacting budgets, was a more pronounced move towards value. As consumers became increasingly...”
“We expect mid to high single-digit adjusted EPS accretion within the first 12 months post close, and mid to high teens accretion in year three.”
“We expect mid-to-high single-digit adjusted EPS accretion within the first 12 months post-close, and mid-to-high teens accretion in year three.”
“We are going to use the majority of the tax refund to offset the this higher cost. I mean, this you know, tariffs they they hurt us last year. We're going to use it now to offset the majority in our this this cost.”
“Our fundamentals remain strong, supported by resilient long-term category trends, healthy and flavorful cooking, flavor exploration, and trusted brands, as well as the strength of our diversified flavor focused portfolio. In the second quarter, accelerated momentum in flavor solutions more than offset consumer trends....”
“We expect mid to high single-digit adjusted EPS accretion within the first 12 months post close and mid to high teen accretion in year three.”
“Due to the dynamic global trade environment, our gross margin was further pressured by rising costs. However, our effective execution on efficiency initiatives drove continued operating profit growth. We are executing with discipline on the actions within our control while adapting quickly to the dynamics in the extern...”
“We are absorbing some incremental costs this year which has a near-term impact on our profitability. This approach enables us to maintain our volume momentum and sustain investment in our growth initiatives while still delivering operating profit growth for the year. As a result, we reaffirmed our volume sales growth a...”
“Our current gross tariff costs for 2025 are now expected to be approximately $70 million compared to the $50 million we provided on our last call. Our total gross annualized tariff exposure is now approximately $140 million compared to $90 million we provided previously. For 2025, we continue to expect to offset most o...”
“We view tariffs as a discrete headwind to work through. However, we remain committed to our strategic priorities: sustaining a healthy topline, investing in the business, and maximizing profitability. Ultimately, we believe the execution of our growth plans will be a win for consumers, customers, our categories, and Mc...”
“We are taking a very surgical approach to pricing and leveraging robust analytics and planning tools to ensure we maintain volume growth and continue to meet consumers and customers needs for both value and flavor. We stay agile with mitigation plans across all lines of the P&L to protect our profitability.”
“There is increasing consumer uncertainty and concern over returning to more inflation and this has impacted consumer sentiment particularly in the last month. This prolongs the consumer context of 2024 where consumers, especially lower income consumers, are more cautious, exhibiting more value-seeking behavior, and tig...”
“As you know, the situation remains fluid. At this time, we plan to offset costs related to US import tariffs on China with our CCI savings and some very targeted price adjustments. Our focus remains on safeguarding the health and competitiveness of our brands, sustaining the growth momentum in our business and maintain...”
“We are seeing a tick up in reformulation activity. And that would align with what you're seeing in the news media regarding what we're hearing from the new administration. But it isn't just colors. It's also sodium. We've always been working on sodium. It's also about just working on trends that are certainly positive...”
“We delivered differentiated volume led organic growth and share gains, powered by sustained momentum from investing in our brands, expanding distribution, and driving innovation across our business. We achieved solid profitability gains in the first half of the year. However, rising costs in the second half related to...”
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MKC - Earnings call Q3 2025.
MKC - Earnings call Q1 2025.
MKC - Earnings call Q2 2025.
McCormick & Co. CEO Brendan Foley discusses a deal to acquire Unilever's food unit at $44.8 billion. Foley talks about the state of food mergers and how he plans to integrate Unilever's food unit. He speaks with Bloomberg's Matt Miller and Dani Burger. See omnystudio.com/listener (https://omnystudio.com/listener) for privacy information. Bloomberg Talks curates top interviews from around Bloomberg News. Hear conversations with the biggest names in finance, politics and entertainment. On Bloomberg Talks, we round up interviews with Fortune 500 CEOs, government officials, well-known investors…
CNBC's "Mad Money" host Jim Cramer is joined by McCormick CEO Brendan Foley to discuss the company's tariff strategy, ...
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