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me McCormick Reports Strong Third Quarter Sales Growth And Updates 2021 Financial Outlook September 30 , 2021 HUNT VALLEY , Md . , Sept. 30 , 2021 / P R Newswire / -- McCormick & Company , Incorporated ( NYSE : MKC ) , a global leader in flavor , today reported financial results for the third quarter ended August 31 , 2021 . • Sales rose 8 % in the third quarter from the year - ago period . In constant currency , the Company grew sales 5 % . ● Operating income was $ 265 million in the third quarter compared to $ 273 million in the year - ago period . Adjusted operating income was $ 272 million compared to $ 273 million in the third quarter of 2020 . • Earnings per share was $ 0.79 in the third quarter as compared to $ 0.76 in the year - ago period . Adjusted earnings per share rose 5 % to $ 0.80 from $ 0.76 in the year - ago period . • For fiscal year 2021 , McCormick updated its sales outlook to expected growth of 12 % to 13 % , or 9 % to 10 % in constant currency . Chairman , President & CEO's Remarks Lawrence E. Kurzius , Chairman , President and CEO , stated , " Our third quarter results continue to demonstrate the strength and breadth of McCormick's offering . We grew sales 8 % in the third quarter and , notably , on a two - year basis , grew sales 17 % , which reflects our robust growth momentum in both segments and strong contributions from our Cholula and FONA acquisitions . Our Consumer segment results reflect the sustained shift to consumer at - home consumption , higher than pre - pandemic levels , as well as lapping the year - ago elevated demand in the lockdown days of the pandemic . In our Flavor Solutions segment , growth was driven equally from packaged food and beverage companies as well as our restaurant and other foodservice customers , many of which were lapping the curtailment in away - from - home dining in the year - ago period . We are currently operating in a dynamic cost environment and like the rest of the industry , experiencing cost pressures . While the profit driven by our strong third quarter sales growth was tempered by higher inflation and industry - wide logistics challenges , we expect to manage through this inflationary environment as we have successfully done in the past , including through pricing , and fully offset cost pressures over time . Importantly , our strong growth trajectory supports our confidence in our long - term financial algorithm to drive continuous value creation through top line growth and margin expansion . Remarkably , year - to - date versus 2019 , we have driven sales , adjusted operating income and adjusted earnings per share growth of nearly 20 % across all three metrics . The combination of our broad and advantaged portfolio , the execution of our strategies to capitalize on accelerating consumer trends and the engagement of our employees have positioned us well to continue to drive differentiated growth . " We are capitalizing on the sustained shift to cooking more at home , increased digital engagement , clean and flavorful eating , and trusted brands , which we are confident will persist beyond the pandemic . The strategic investments we have made , including in our supply chain resiliency and brand marketing , provide a foundation for long - term , sustainable growth while enhancing our agility and our relevance with our consumers and customers . As we enter the fourth quarter , we are narrowing our full year sales outlook to the high - end of our previous range and , recognizing there remains a degree of uncertainty in the cost environment , we are lowering our adjusted operating income outlook . We are confident in our robust sales growth momentum and our ability to successfully navigate through the transitory broad - based supply chain challenges the world is currently experiencing . We have a strong foundation and remain focused on the long - term goals , strategies and values that have made us so successful . " I want to recognize McCormick employees around the world as the collective power of our people drives our momentum and our success . With our vision to stand together for flavor and our relentless focus on growth , performance , and people , we are confident our strategies will enable us to become even better positioned to drive future growth and build long - term value for our shareholders . " Third Quarter 2021 Results McCormick reported an 8 % sales increase in the third quarter from the year - ago period , including a 3 % favorable impact from currency . Sales from Cholula and FONA , acquired in November 2020 and December 2020 , respectively , added 4 % to the sales increase . Flavor Solutions segment sales increased 21 % , or 17 % in constant currency , driven by incremental sales from acquisitions , growth with packaged food and beverage companies as well as higher sales of away - from - home products . Consumer segment sales grew 1 % , including a 2 % favorable impact from currency , on top of 15 % growth in the third quarter of 2020. Despite the difficult year - over - year comparison , Consumer segment sales reflect the sustained shift to consumers cooking more at home , fueled by the Company's brand marketing , strong digital engagement , new products , and acquisition growth . Gross profit margin declined 260 basis points versus the year - ago period driven by higher cost inflation and unfavorable product mix , partially offset by cost savings led by the Company's Comprehensive Continuous Improvement ( CCI ) program . Operating income was $ 265 million in the third quarter of 2021 compared to $ 273 million in the year - ago period . This decline included $ 1 million of transaction and integration expenses related to the acquisitions of Cholula and FONA as well as $ 6 million of special charges . Excluding transaction and integration expenses as well as special charges , adjusted operating income of $ 272 million in the third quarter was comparable to $ 273 million in the year - ago period . In constant currency , adjusted operating income declined 3 % . The favorable impact of higher sales and CCI - led cost savings was more than offset by gross margin compression and higher brand marketing investments . Earnings per share was $ 0.79 in the third quarter of 2021 compared to $ 0.76 in the third quarter of 2020. Transaction and integration expenses and