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- McCormick adjusted EPS of $0.80 beat the $0.69 consensus by 16%; net sales rose 16.7% to $1.94 billion, boosted by the McCormick de Mexico acquisition.
- Darden DRI Q4 adjusted EPS of $3.66 edged past estimates; full-year FY2026 sales reached $13.21 billion; FY2027 guidance calls for $11.10–$11.35 EPS.
- Winnebago Q3 revenue fell 9.9% to $698.7 million, missing the $758.2 million consensus; full-year adjusted EPS guidance cut to $1.65–$2.00 from $2.10–$2.80.
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McCormick and Darden Restaurants (DRI) topped Q2 and Q4 earnings estimates before Thursday's open; Commercial Metals EBITDA surged 79%; Winnebago slashed FY2026 guidance as RV demand softened.
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Four consumer and industrial companies reported quarterly earnings before the New York Stock Exchange opened on Thursday, June 25, 2026. McCormick & Company (MKC) and Darden Restaurants (DRI) cleared Wall Street estimates, Commercial Metals Company (CMC) posted a 78.6% surge in core EBITDA with revenues of $2.48 billion, and Winnebago Industries (WGO) missed on both revenue and earnings while cutting its full-year outlook against a backdrop of weak recreational-vehicle demand and cautious household spending.
McCormick: Mexico Deal and Margins Drive Significant Earnings Beat
McCormick reported second-quarter net sales of $1.94 billion, up 16.7% from the year-ago period. The McCormick de Mexico acquisition contributed 12.3 percentage points of that gain; a favorable currency effect added another 2.7 points. Organic growth was 1.7%.The Consumer segment reached $1.14 billion, a 22.8% advance, while the Flavor Solutions segment rose 8.9% to $794 million.
Adjusted earnings per share came in at $0.80, up 15.9% from $0.69 a year earlier and well ahead of the $0.69 consensus estimate. Adjusted operating income expanded 30.1% to $336.4 million. GAAP EPS of $0.56 lagged the year-ago $0.65 due to acquisition-related transaction costs that did not affect the adjusted measure.
Management reaffirmed the full-year 2026 outlook, targeting net sales growth of 13–17%, adjusted operating income growth of 16–20%, and adjusted EPS of $3.05–$3.13.
Darden: LongHorn Leads, 53rd Week Adds Ballast to DRI Q4
Darden Restaurants reported fiscal fourth-quarter total sales of $3.72 billion, up 13.7%. A 53rd week of operations contributed 7.6 percentage points of that growth; blended same-restaurant sales rose 4.6% on a comparable 52-week basis. LongHorn Steakhouse led the brand portfolio with same-restaurant sales growth of 9.5%. Olive Garden grew 2.4% and Fine Dining brands added 1.9%.Adjusted diluted EPS from continuing operations reached $3.66, up 22.8% from $2.98 a year earlier and a narrow beat against the $3.64 consensus. The extra week contributed $0.25 to the adjusted figure. GAAP diluted EPS was $3.54. Full fiscal year 2026 total sales rose 9.4% to $13.21 billion, with blended same-restaurant sales of 4.5% across the portfolio—Olive Garden +4.0%, LongHorn +7.2%, Fine Dining +1.2%, Other +3.9%.
Looking to fiscal 2027, Darden guided to total sales of $13.60 billion–$13.75 billion, EBITDA of $2.26 billion–$2.29 billion, diluted EPS of $11.10–$11.35, and same-restaurant sales growth of 2.5%–3.5%. The company plans 75–80 net new restaurant openings, compared with 43 in fiscal 2026. Darden also increased its quarterly dividend and authorized a new $1.5 billion share repurchase program.
Commercial Metals: Steel Margins and Precast Acquisitions Power EBITDA
Commercial Metals reported fiscal third-quarter net revenues of $2.48 billion, up 22.9% year-over-year. Core EBITDA surged 78.6% to $353.6 million, with core EBITDA margins widening 440 basis points to 14.2%. Adjusted diluted EPS was $1.73, up 147.1% from the prior-year period; GAAP diluted EPS was $1.55.The North America Steel Group generated adjusted EBITDA of $253.5 million, a 41% increase, as steel selling prices rose $130 per ton while scrap input costs climbed only $19 per ton, expanding metal margins by $111 per ton.
The Construction Solutions Group more than doubled adjusted EBITDA to $97.4 million, with net sales reaching $394.6 million; recently completed precast concrete acquisitions contributed $175.7 million in revenue and $52.9 million in EBITDA at a 24.7% margin.
The Europe Steel Group recovered sharply to $34.7 million in adjusted EBITDA from $3.6 million a year earlier, aided by a $20.4 million COâ‚‚ credit and $37-per-ton metal margin expansion.
CMC ended the quarter with $563.2 million in cash and net leverage of 2.1x. The company repurchased 283,335 shares for $18.9 million and declared its 247th consecutive quarterly dividend of $0.20 per share. Management expects sequential core EBITDA growth in the fiscal fourth quarter, citing healthy domestic demand, robust construction backlogs, and the absence of a mill outage that pressured the prior quarter.
Winnebago: Towable Slump and Guidance Cut Weigh on WGO
Winnebago Industries reported fiscal third-quarter net revenues of $698.7 million, a 9.9% decline from $775.1 million in the year-ago period, and below the $758.2 million consensus estimate. Adjusted EPS fell 18.5% to $0.66, missing the $0.78 consensus. Adjusted EBITDA was $37.8 million on a 5.4% margin.The Towable RV segment absorbed the sharpest contraction, with revenues falling 26.1% to $274.7 million and operating margin compressing to 5.8% from 8.0% a year earlier. Motorhome RV provided a partial offset, with revenues rising 10.1% to $320.7 million and operating income swinging to a $9.6 million gain from a $3.2 million loss, pushing operating margin to 3.0%. The Marine segment posted revenues of $92.4 million, down 8.3%, though the Barletta brand maintained a 9.3% market share on a trailing twelve-month basis.
Winnebago lowered its full-year fiscal 2026 adjusted EPS guidance to $1.65–$2.00 from a prior range of $2.10–$2.80, and cut its revenue forecast to $2.65 billion–$2.75 billion from $2.80 billion–$3.00 billion. Management pointed to a challenging retail environment, elevated fuel costs, and weak consumer confidence as the primary drags, particularly on the towable category. North American RV wholesale shipments are now expected in the range of 290,000–310,000 units for calendar year 2026. A quarterly cash dividend of $0.35 per share was also declared.
