味好美 2026年季度报告

Form 10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended May31, 2026OR☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number 001-14920 McCORMICK& COMPANY, INCORPORATED (I.R.S. EmployerIdentification No.) (State or other jurisdiction ofincorporation or organization) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (Section 232.405 of this chapter) during the preceding 12 months (or for such shorter periodthat the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reportingcompany” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large Accelerated Filer☒Non-Accelerated Filer☐ AcceleratedFiler☐SmallerReportingCompany☐EmergingGrowthCompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. TABLE OF CONTENTS PART I – FINANCIAL INFORMATION4ITEM 1FINANCIAL STATEMENTS4ITEM 2MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS28ITEM 3QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK45ITEM 4CONTROLS AND PROCEDURES45PART II - OTHER INFORMATION47ITEM 1LEGAL PROCEEDINGS47ITEM 1aRISK FACTORS47ITEM 2UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS50ITEM 3DEFAULTS UPON SENIOR SECURITIES51ITEM 4MINE SAFETY DISCLOSURES51ITEM 5OTHER INFORMATION51ITEM 6EXHIBITS52 McCORMICK& COMPANY, INCORPORATEDCONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED)(in millions except per share amounts) McCORMICK& COMPANY, INCORPORATEDCONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED)(in millions) McCORMICK& COMPANY, INCORPORATEDCONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED)(in millions) McCORMICK& COMPANY, INCORPORATEDNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(unaudited)ACCOUNTING POLICIES 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions toForm 10-Q and do not include all the information and notes required by United States Generally Accepted Accounting Principles(GAAP) for complete financial statements. In our opinion, the accompanying condensed consolidated financial statements contain alladjustments, which are of a normal and recurring nature, necessary to present fairly the financial position and the results of operationsfor the interim periods presented. Certain prior period amounts have been reclassified to conform with the current period presentation. Net income attributable tononcontrolling interests is presented separately on the condensed consolidated income statement. Amounts from prior periodspreviously included in Income from unconsolidated operations are reflected in Net income attributable to noncontrolling interests. The results of consolidated operations for the six-month period ended May31, 2026 are not necessarily indicative of the results to beexpected for the full year. Historically, our net sales, net income, and cash flow from operations have been lower in the first half of thefiscal year and higher in the second half of the fiscal year. This historical increase in the second half of the year has largely been due tothe consumer business cycle in the United States (U.S.), where customers typically purchase more of our products in the fourth quarterdue to the Thanksgiving and Christmas holiday seasons. For further information, refer to the consolidated financial statements and notes included in our Annual Report on Form 10-K for theyear ended November30, 2025. On January 2, 2026, we completed the acquisition of an additional 25% ownership interest in McCormick de Mexico from GrupoHerdez, which increased our ownership to a