MGP Ingredients Provides Certain Preliminary Third Quarter 2024 Results and Updates Full Year 2024 Guidance
MGP Ingredients, Inc. (MGPI)
Last mgp ingredients, inc. earnings: 4/30 07:30 am
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Source: GlobeNewswire
ATCHISON, Kan., Oct. 17, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of branded and distilled spirits and food ingredient solutions, today announced certain preliminary financial results for the third quarter ended September 30, 2024. Based on preliminary results, for the third quarter ended September 30, 2024 compared to the 2023 third quarter: Sales are expected to decline 24% from the year-ago quarter to $161.5 million. Excluding the impact of the Atchison distillery, sales are expected to decline 14%.Distilling Solutions segment sales are expected to decline 36%, including a 22% decline in brown goods sales. Branded Spirits segment sales are expected to decline 6% with premium plus sales up 1%, while Ingredient Solutions segment sales are expected to decline 18%.Net income is expected to increase 82% to $23.9 million. Adjusted net income is expected to decline 5%. Basic earnings per common share (“EPS”) is expected to increase to $1.07 per
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MGPI
Earnings
- 8/1/24 - Beat
MGPI
Sec Filings
- 10/17/24 - Form 8-K
- 10/4/24 - Form 4
- 10/4/24 - Form 4
- MGPI's page on the SEC website