0839 ET - Tariffs have increased the cost of agricultural ingredients that McCormick & Co. sources from outside of the U.S., CEO Brendan Foley says on a call with analysts. However, he notes the spice maker has "numerous levers to manage this impact, which is enabling us to maintain our volume led top-line growth and operating profit outlook for 2025, inclusive of tariffs." The company's global manufacturing footprint allows many products to be manufactured within the region in which they're sold, limiting the impact of tariffs, Foley says. McCormick is also looking at alternative sourcing locations for certain raw materials, as well as implementing "surgical and strategic pricing" actions, he adds. McCormick is up 5% premarket. (connor.hart@wsj.com)
(END) Dow Jones Newswires
June 26, 2025 08:39 ET (12:39 GMT)
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