New Delhi, June 26 -- HUNT VALLEY, MARYLAND - McCormick & Company reported quarterly revenue that jumped 16.7 percent from the same period a year ago. The figure that matters more is 1.7 percent.

The spice and flavorings maker posted net sales of $1.94 billion for its fiscal second quarter ended May 31, 2026, but the arithmetic behind that surge tells a different story than the headline. A full 12.3 percentage points of the gain came from the acquisition of McCormick de Mexico, which closed in the second quarter of fiscal 2025. Currency movements added another 2.7 points. Strip those out and the underlying business grew just 1.7 percent organically - a creditable number by the standards of mature packaged-food companies, but not a number...