Subtext

McCormick & Company, Incorporated MKC

SectorConsumer Staples
Transcripts64
Date range2009-06-25 – 2025-03-25
Calls charted64

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-20-10+0+10+202009 Q22011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22009 Q2 · Overall: +0.52009 Q3 · Overall: +8.62009 Q4 · Overall: +10.22010 Q1 · Overall: +11.82010 Q2 · Overall: +10.12010 Q3 · Overall: +11.02010 Q4 · Overall: +3.62011 Q1 · Overall: +4.32011 Q2 · Overall: +7.42011 Q3 · Overall: +5.82011 Q4 · Overall: +4.92012 Q1 · Overall: +7.62012 Q2 · Overall: +6.12012 Q3 · Overall: +5.92012 Q4 · Overall: +2.32013 Q1 · Overall: +8.12013 Q2 · Overall: +11.12013 Q3 · Overall: +10.02013 Q4 · Overall: +8.72014 Q1 · Overall: +15.12014 Q2 · Overall: +10.12014 Q3 · Overall: +6.82014 Q4 · Overall: +5.52015 Q1 · Overall: +12.72015 Q2 · Overall: +13.82015 Q3 · Overall: +10.42015 Q4 · Overall: +16.62016 Q1 · Overall: +12.62016 Q2 · Overall: +13.62016 Q3 · Overall: +10.22016 Q4 · Overall: +7.72017 Q1 · Overall: +1.92017 Q2 · Overall: +8.12017 Q3 · Overall: +10.82017 Q4 · Overall: +15.72018 Q1 · Overall: +13.72018 Q2 · Overall: +10.32018 Q3 · Overall: +14.72018 Q4 · Overall: +7.22019 Q1 · Overall: +13.22019 Q2 · Overall: +8.32019 Q3 · Overall: +8.22019 Q4 · Overall: +12.12020 Q1 · Overall: +1.82020 Q2 · Overall: +3.22020 Q3 · Overall: +4.72020 Q4 · Overall: +13.62021 Q1 · Overall: +8.92021 Q2 · Overall: +5.62021 Q3 · Overall: +5.12021 Q4 · Overall: +10.62022 Q1 · Overall: +6.62022 Q2 · Overall: -0.42022 Q3 · Overall: +4.72022 Q4 · Overall: +9.52023 Q1 · Overall: +11.22023 Q2 · Overall: +16.52023 Q3 · Overall: +16.32023 Q4 · Overall: +13.52024 Q1 · Overall: +14.02024 Q2 · Overall: +14.82024 Q3 · Overall: +13.32024 Q4 · Overall: +17.02025 Q1 · Overall: +11.7
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-38-19+0+19+382009 Q22011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22009 Q2 · CEO: +3.82009 Q3 · CEO: +16.02009 Q4 · CEO: +24.72010 Q1 · CEO: +18.12010 Q2 · CEO: +14.62010 Q3 · CEO: +17.02010 Q4 · CEO: +12.02011 Q1 · CEO: +9.72011 Q2 · CEO: +15.62011 Q3 · CEO: +9.62011 Q4 · CEO: +14.72012 Q1 · CEO: +13.42012 Q2 · CEO: +12.72012 Q3 · CEO: +14.22012 Q4 · CEO: +7.02013 Q1 · CEO: +17.52013 Q2 · CEO: +19.72013 Q3 · CEO: +16.92013 Q4 · CEO: +22.42014 Q1 · CEO: +22.82014 Q2 · CEO: +20.72014 Q3 · CEO: +15.02014 Q4 · CEO: +16.42015 Q1 · CEO: +24.92015 Q2 · CEO: +21.92015 Q3 · CEO: +15.22015 Q4 · CEO: +32.82016 Q1 · CEO: +26.42016 Q2 · CEO: +22.22016 Q3 · CEO: +14.12016 Q4 · CEO: +16.62017 Q1 · CEO: +7.42017 Q2 · CEO: +17.52017 Q3 · CEO: +22.72017 Q4 · CEO: +23.72018 Q1 · CEO: +18.62018 Q2 · CEO: +19.92018 Q3 · CEO: +21.62018 Q4 · CEO: +18.42019 Q1 · CEO: +23.32019 Q2 · CEO: +15.52019 Q3 · CEO: +18.82019 Q4 · CEO: +23.22020 Q1 · CEO: +6.52020 Q2 · CEO: +6.12020 Q3 · CEO: +11.82020 Q4 · CEO: +21.82021 Q1 · CEO: +14.92021 Q2 · CEO: +17.72021 Q3 · CEO: +12.02021 Q4 · CEO: +22.02022 Q1 · CEO: +18.62022 Q2 · CEO: +3.52022 Q3 · CEO: +10.92022 Q4 · CEO: +18.82023 Q1 · CEO: +22.82023 Q2 · CEO: +28.12023 Q3 · CEO: +23.72023 Q4 · CEO: +21.72024 Q1 · CEO: +22.22024 Q2 · CEO: +22.12024 Q3 · CEO: +22.32024 Q4 · CEO: +25.32025 Q1 · CEO: +18.52009 Q2 · CFO: +0.72009 Q3 · CFO: +16.32009 Q4 · CFO: +8.52010 Q1 · CFO: +15.92010 Q2 · CFO: +13.62010 Q3 · CFO: +15.12010 Q4 · CFO: +0.52011 Q1 · CFO: +7.12011 Q2 · CFO: +7.32011 Q3 · CFO: +10.52011 Q4 · CFO: +3.72012 Q1 · CFO: +9.02012 Q3 · CFO: +5.12012 Q4 · CFO: +4.62013 Q1 · CFO: +8.92013 Q2 · CFO: +10.62013 Q3 · CFO: +9.82013 Q4 · CFO: +6.72014 Q1 · CFO: +16.22014 Q2 · CFO: +9.52014 Q3 · CFO: +9.42014 Q4 · CFO: +2.02015 Q1 · CFO: +5.42015 Q2 · CFO: +10.02015 Q3 · CFO: +7.32015 Q4 · CFO: +7.32016 Q1 · CFO: +9.62016 Q2 · CFO: +11.42016 Q3 · CFO: +10.52016 Q4 · CFO: +3.82017 Q1 · CFO: -2.02017 Q2 · CFO: +1.02017 Q3 · CFO: +2.72017 Q4 · CFO: +11.42018 Q1 · CFO: +14.52018 Q2 · CFO: +5.02018 Q3 · CFO: +12.72018 Q4 · CFO: +3.02019 Q1 · CFO: +9.12019 Q2 · CFO: +6.32019 Q3 · CFO: +6.32019 Q4 · CFO: +8.62020 Q1 · CFO: -0.42020 Q2 · CFO: +0.02020 Q3 · CFO: -1.72020 Q4 · CFO: +5.92021 Q1 · CFO: +9.92021 Q2 · CFO: +0.82021 Q3 · CFO: +1.62021 Q4 · CFO: +2.72022 Q1 · CFO: -1.22022 Q2 · CFO: -9.62022 Q3 · CFO: +0.82022 Q4 · CFO: +1.42023 Q1 · CFO: +5.42023 Q2 · CFO: +12.12023 Q3 · CFO: +12.12023 Q4 · CFO: +9.42024 Q1 · CFO: +8.82024 Q2 · CFO: +13.12024 Q3 · CFO: +11.62024 Q4 · CFO: +12.92025 Q1 · CFO: +9.3
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-29-15+0+15+292009 Q22011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22009 Q2 · Prepared remarks: +4.62009 Q3 · Prepared remarks: +17.52009 Q4 · Prepared remarks: +17.52010 Q1 · Prepared remarks: +20.82010 Q2 · Prepared remarks: +20.92010 Q3 · Prepared remarks: +21.92010 Q4 · Prepared remarks: +12.72011 Q1 · Prepared remarks: +8.22011 Q2 · Prepared remarks: +13.82011 Q3 · Prepared remarks: +11.12011 Q4 · Prepared remarks: +10.02012 Q1 · Prepared remarks: +13.12012 Q2 · Prepared remarks: +10.52012 Q3 · Prepared remarks: +13.92012 Q4 · Prepared remarks: +7.02013 Q1 · Prepared remarks: +16.92013 Q2 · Prepared remarks: +16.72013 Q3 · Prepared remarks: +16.02013 Q4 · Prepared remarks: +19.12014 Q1 · Prepared remarks: +23.92014 Q2 · Prepared remarks: +20.12014 Q3 · Prepared remarks: +21.02014 Q4 · Prepared remarks: +15.12015 Q1 · Prepared remarks: +18.62015 Q2 · Prepared remarks: +20.32015 Q3 · Prepared remarks: +16.32015 Q4 · Prepared remarks: +20.62016 Q1 · Prepared remarks: +21.22016 Q2 · Prepared remarks: +19.92016 Q3 · Prepared remarks: +15.52016 Q4 · Prepared remarks: +13.52017 Q1 · Prepared remarks: +4.22017 Q2 · Prepared remarks: +15.42017 Q3 · Prepared remarks: +19.52017 Q4 · Prepared remarks: +25.22018 Q1 · Prepared remarks: +21.92018 Q2 · Prepared remarks: +19.02018 Q3 · Prepared remarks: +18.52018 Q4 · Prepared remarks: +18.62019 Q1 · Prepared remarks: +21.32019 Q2 · Prepared remarks: +15.52019 Q3 · Prepared remarks: +13.22019 Q4 · Prepared remarks: +23.92020 Q1 · Prepared remarks: +5.12020 Q2 · Prepared remarks: +4.82020 Q3 · Prepared remarks: +9.92020 Q4 · Prepared remarks: +20.02021 Q1 · Prepared remarks: +13.32021 Q2 · Prepared remarks: +7.22021 Q3 · Prepared remarks: +11.22021 Q4 · Prepared remarks: +17.82022 Q1 · Prepared remarks: +12.62022 Q2 · Prepared remarks: -3.72022 Q3 · Prepared remarks: +7.52022 Q4 · Prepared remarks: +11.42023 Q1 · Prepared remarks: +17.62023 Q2 · Prepared remarks: +21.22023 Q3 · Prepared remarks: +20.32023 Q4 · Prepared remarks: +22.32024 Q1 · Prepared remarks: +21.22024 Q2 · Prepared remarks: +25.22024 Q3 · Prepared remarks: +20.32024 Q4 · Prepared remarks: +25.22025 Q1 · Prepared remarks: +23.32009 Q2 · Q&A responses: -1.02009 Q3 · Q&A responses: +5.42009 Q4 · Q&A responses: +11.32010 Q1 · Q&A responses: +10.12010 Q2 · Q&A responses: +6.82010 Q3 · Q&A responses: +7.82010 Q4 · Q&A responses: +2.12011 Q1 · Q&A responses: +8.12011 Q2 · Q&A responses: +4.72011 Q3 · Q&A responses: +5.22011 Q4 · Q&A responses: +3.72012 Q1 · Q&A responses: +7.52012 Q2 · Q&A responses: +7.32012 Q3 · Q&A responses: +4.32012 Q4 · Q&A responses: +1.12013 Q1 · Q&A responses: +6.42013 Q2 · Q&A responses: +9.42013 Q3 · Q&A responses: +10.52013 Q4 · Q&A responses: +9.42014 Q1 · Q&A responses: +15.82014 Q2 · Q&A responses: +11.12014 Q3 · Q&A responses: +0.42014 Q4 · Q&A responses: +4.62015 Q1 · Q&A responses: +15.42015 Q2 · Q&A responses: +15.12015 Q3 · Q&A responses: +11.52015 Q4 · Q&A responses: +14.12016 Q1 · Q&A responses: +16.82016 Q2 · Q&A responses: +15.22016 Q3 · Q&A responses: +9.62016 Q4 · Q&A responses: +8.42017 Q1 · Q&A responses: +4.12017 Q2 · Q&A responses: +5.02017 Q3 · Q&A responses: +7.32017 Q4 · Q&A responses: +9.12018 Q1 · Q&A responses: +10.72018 Q2 · Q&A responses: +9.42018 Q3 · Q&A responses: +13.22018 Q4 · Q&A responses: +3.12019 Q1 · Q&A responses: +13.62019 Q2 · Q&A responses: +6.32019 Q3 · Q&A responses: +13.32019 Q4 · Q&A responses: +7.12020 Q1 · Q&A responses: +4.52020 Q2 · Q&A responses: +4.82020 Q3 · Q&A responses: +3.72020 Q4 · Q&A responses: +9.62021 Q1 · Q&A responses: +10.52021 Q2 · Q&A responses: +11.22021 Q3 · Q&A responses: +4.22021 Q4 · Q&A responses: +7.72022 Q1 · Q&A responses: +6.92022 Q2 · Q&A responses: +4.22022 Q3 · Q&A responses: +7.32022 Q4 · Q&A responses: +14.22023 Q1 · Q&A responses: +12.62023 Q2 · Q&A responses: +17.22023 Q3 · Q&A responses: +17.72023 Q4 · Q&A responses: +11.52024 Q1 · Q&A responses: +12.32024 Q2 · Q&A responses: +11.62024 Q3 · Q&A responses: +14.22024 Q4 · Q&A responses: +14.92025 Q1 · Q&A responses: +7.4
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$1.55$2.50$3.442009 Q22011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22014 Q1: $1.682014 Q2: $1.722014 Q3: $1.762014 Q4: $1.812015 Q1: $1.822015 Q2: $1.822015 Q3: $1.872015 Q4: $1.892016 Q1: $1.902016 Q2: $1.982016 Q3: $2.032016 Q4: $2.072017 Q1: $2.102017 Q2: $2.152017 Q3: $2.252017 Q4: $2.342018 Q1: $2.512018 Q2: $2.592018 Q3: $2.642018 Q4: $2.722019 Q1: $2.682019 Q2: $2.752019 Q3: $2.802019 Q4: $2.802020 Q1: $2.682020 Q2: $2.692020 Q3: $2.822020 Q4: $2.942021 Q1: $3.012021 Q2: $3.092021 Q3: $3.162021 Q4: $3.122022 Q1: $3.272022 Q2: $3.312022 Q3: $3.062022 Q4: $2.972023 Q1: $2.662023 Q2: $2.782023 Q3: $2.882023 Q4: $2.912024 Q1: $2.902024 Q2: $2.982024 Q3: $3.042024 Q4: $3.14

Forward P/E

18.0827.2836.482009 Q22011 Q22013 Q22015 Q22017 Q22019 Q22021 Q22023 Q22014 Q1: 20.132014 Q2: 21.092014 Q3: 19.352014 Q4: 20.132015 Q1: 19.952015 Q2: 21.552015 Q3: 22.272015 Q4: 22.912016 Q1: 24.892016 Q2: 25.172016 Q3: 23.872016 Q4: 22.202017 Q1: 24.222017 Q2: 24.512017 Q3: 21.842017 Q4: 21.582018 Q1: 22.052018 Q2: 20.232018 Q3: 24.612018 Q4: 26.102019 Q1: 26.002019 Q2: 28.352019 Q3: 28.452019 Q4: 29.872020 Q1: 26.282020 Q2: 32.372020 Q3: 35.212020 Q4: 31.532021 Q1: 28.822021 Q2: 28.312021 Q3: 26.982021 Q4: 29.522022 Q1: 29.642022 Q2: 25.262022 Q3: 25.972022 Q4: 29.082023 Q1: 27.452023 Q2: 32.712023 Q3: 27.772023 Q4: 23.972024 Q1: 23.652024 Q2: 23.012024 Q3: 27.582024 Q4: 25.21

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q2 tone ↓ -5.0 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2014 Q3 tone ↓ -3.3 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -3.4 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q3 tone ↓ -3.5 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q4 tone ↓ -2.5 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.
  • 2017 Q1 tone ↓ -5.8 fwd EPS ↑ +0.03 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q1 tone ↓ -2.0 fwd EPS ↑ +0.17 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q2 tone ↓ -3.3 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↓ -7.4 fwd EPS ↑ +0.08 Tone cooled even as the forward EPS estimate rose.
  • 2019 Q1 tone ↑ +6.0 fwd EPS ↓ -0.04 Tone rose while the forward EPS estimate was cut.
  • 2019 Q2 tone ↓ -4.9 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q1 tone ↓ -4.6 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q2 tone ↓ -3.4 fwd EPS ↑ +0.09 Tone cooled even as the forward EPS estimate rose.
  • 2021 Q4 tone ↑ +5.5 fwd EPS ↓ -0.04 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -3.9 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q2 tone ↓ -7.1 fwd EPS ↑ +0.05 Tone cooled even as the forward EPS estimate rose.
  • 2022 Q3 tone ↑ +5.1 fwd EPS ↓ -0.26 Tone rose while the forward EPS estimate was cut.
  • 2022 Q4 tone ↑ +4.8 fwd EPS ↓ -0.09 Tone rose while the forward EPS estimate was cut.
  • 2023 Q4 tone ↓ -2.7 fwd EPS ↑ +0.04 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q12025-03-25+11.7——View →
2024 Q42025-01-23+17.0$3.1425.2View →
2024 Q32024-10-01+13.3$3.0427.6View →
2024 Q22024-06-27+14.8$2.9823.0View →
2024 Q12024-03-26+14.0$2.9023.6View →
2023 Q42024-01-25+13.5$2.9124.0View →
2023 Q32023-10-03+16.3$2.8827.8View →
2023 Q22023-06-29+16.5$2.7832.7View →