McCormick Is Buying Growth It Cannot Organically Generate

But the headline numbers are impressive

Photo by Paolo Bendandi on Unsplash

The headline numbers look impressive. McCormick’s reported net sales grew 16.7 per cent in both Q1 and Q2 of fiscal year 2026. Guidance holds. Analysts are satisfied.

Look at the organic numbers and the story changes entirely.

Organic sales grew 1.2 per cent in Q1 and 1.7 per cent in Q2. Pricing contributed roughly 2 per…