MGP Ingredients

MGP Ingredients, Inc. engages in the manufacture and trade of food, beverage, specialty wheat protein and starch food ingredients. It operates through the following segments: Distillery Products, Branded Spirits and Ingredient Solutions. The Distillery Products segment consists of food grade alcohol and distillery co-products, such as distillers feed and fuel grade alcohol. It also includes warehouse services, including barrel put away, barrel storage and barrel retrieval services. The Branded Spirits segment focuses on producing, importing, bottling and rectifying of distilled spirits through distilleries and bottling facilities. The Ingredient Solutions segment consists of specialty starches and proteins and commodity starches and proteins. The company was founded by Cloud L. Cray in 1941 and is headquartered in Atchison, KS.

Earnings data Q1 2021

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Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

MGP Ingredients reports record 2022 results amidst challenges and growth opportunities

MGP Ingredients (MGPI) delivered strong financial performance in 2022, driven by growth in key segments and record sales.
The company faces challenges from elevated input costs and balancing production with inventory management.
Opportunities lie in expanding premium brands, leveraging M&A in high-demand categories, and strategic advertising investments.

MGP Ingredients reports robust Q1 performance amidst cost challenges

MGP Ingredients delivered strong financial performance with record sales in key segments.
Challenges include rising input costs and declines in certain brand segments.
Opportunities lie in ESG commitment, normalized inventory levels, and potential margin expansion.

MGP Ingredients reports record Q2 performance and strategic growth plans

MGP Ingredients (MGPI) showcased robust financial performance in Q2, driven by segmental growth and strategic acquisitions.
While facing challenges in certain segments and input cost pressures, the company remains focused on margin improvement and growth opportunities.
With a positive outlook for fiscal 2023 and a strategic approach to growth, MGPI is poised for continued success and value creation.

MGP Ingredients reports Q3 growth, plans distillery closure for profitability

MGP Ingredients delivered a solid performance in Q3 2023 with sales and gross profit growth, despite a decline in net income due to one-time expenses.
The company's strategic focus on segment growth and profitability improvements positions it well for future success.
While challenges exist in managing the distillery closure, MGP Ingredients is poised to capitalize on market opportunities and leadership transitions.
Overall, MGP Ingredients' revised guidance and operational decisions reflect a positive outlook for the company's performance and strategic direction.

MGP Ingredients (MGPI) reports strong Q4 earnings, eyes margin growth

MGP Ingredients (MGPI) delivered robust financial results in Q4 2023, with strong sales and profit growth across all segments. Despite facing challenges in international markets and incremental costs, the company remains focused on margin improvement and sustainable growth strategies.

MGP Ingredients reports mixed Q1 performance, focuses on growth strategies

MGP Ingredients reported mixed Q1 performance with sales growth in key segments but a decline in consolidated sales due to the distillery closure. The company's financial metrics showed decreases in gross profit, operating income, and adjusted net income.
Despite challenges such as gross margin dilution and managing distributor inventory levels, MGP Ingredients remains optimistic about its growth strategies and premiumization focus in branded spirits. The company's guidance for 2024 reflects a strategic approach to financial management and growth.
Opportunities for MGP Ingredients include leveraging strengths in Ingredient Solutions and branded spirits, addressing concerns about overbranding, and optimizing pricing mix strategies. The company's resilience in cash flow and capital allocation strategies demonstrate confidence in long-term prospects.

MGP Ingredients reports strong Q2 results, eyes growth opportunities

MGP Ingredients (MGPI) delivered a robust performance in Q2 2024, showcasing strength in Branded Spirits and Distilling Solutions segments despite challenges in Ingredient Solutions.
Reaffirmation of full-year guidance and strong financial metrics underscore confidence in future prospects and strategic direction.
Addressing challenges through strategic initiatives and seizing growth opportunities can position MGPI for sustained success and market leadership in the spirits industry.

MGP Ingredients faces Q3 sales dip but eyes growth strategies

Despite Q3 challenges, MGPI's strategic actions and focus on premium brands position them well for future growth opportunities.
Management's confidence in reiterated guidance and proactive measures to address challenges reflect a resilient approach to navigating market dynamics.
Balancing challenges with opportunities in segment growth and brand management will be key for MGPI's performance in the coming quarters.

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MGP Ingredients, Inc. engages in the manufacture and trade of food, beverage, specialty wheat protein, and starch food ingredients. It operates through the following segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. The Distilling Solutions segment consists of food grade alcohol and distillery co-products, such as distillers feed, fuel grade alcohol, and corn oil. It also includes warehouse services, including barrel put away, barrel storage, barrel retrieval services, and blending services. The Branded Spirits segment focuses on producing, importing, and bottling distilled spirits through distilleries and bottling facilities. The Ingredient Solutions segment is involved in specialty wheat starches, specialty wheat proteins, commodity wheat starches, and commodity wheat proteins products. The company was founded by Cloud L. Cray, Sr. in 1941 and is headquartered in Atchison, KS.

ATCHISON, Kan., July 21, 2021 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, today announced that it will hold a conference call/webcast to discuss results for the second quarter ended June 30, 2021, on Wednesday, August 4, at 10 a.m. ET. The company expects to release its financial results before the market opens that morning.

MGP Ingredients Schedules Second Quarter 2021 Conference Call/Webcast for Wednesday, August 4

ATCHISON, Kan., July 15, 2021 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, is pleased to announce that Amel Pasagic, has been appointed to the newly-created position of Chief Information Officer. Mr. Pasagic recently joined MGP as Vice President, IT in connection with MGP's acquisition of Luxco, Inc. and its affiliated companies, a leading branded beverage alcohol company.

MGP Announces Appointment of Amel Pasagic as Chief Information Officer

ATCHISON, Kan., July 13, 2021 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, is pleased to announce that David Bratcher has been appointed as Chief Operating Officer. Mr. Bratcher recently joined MGP as President, Brands in connection with MGP's acquisition of Luxco, Inc. and its affiliated companies, a leading branded beverage alcohol company.

MGP Announces Appointment of David Bratcher as Chief Operating Officer

ATCHISON, Kan., June 28, 2021 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc., (Nasdaq: MGPI) has named Erika Lapish Vice President of Human Resources. Lapish brings more than 20 years in global HR management at manufacturing and healthcare organizations to MGP, a leading provider of distilled spirits, branded spirits and food ingredient solutions.

Erika Lapish Joins MGP as Vice President of Human Resources

MGP Ingredient, Inc. (MGPI) CEO Dave Colo on Q1 2021 Results - Earnings Call Transcript

MGP (MGPI) delivered earnings and revenue surprises of 90.57% and 9.97%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

MGP (MGPI) Beats Q1 Earnings and Revenue Estimates

Shares of MGP Ingredients (NASDAQ:MGPI) decreased 0.6% in pre-market trading after the company reported Q1 results. Quarterly Results Earnings per share were up 65.57% year over year to $1.01, which beat the estimate of $0.58.

Recap: MGP Ingredients Q1 Earnings

Consolidated sales increased 9.3% from prior year period; Operating income increased 49.6%; Adjusted operating income up 56.7% Consolidated sales increased 9.3% from prior year period; Operating income increased 49.6%; Adjusted operating income up 56.7%

MGP Ingredients Reports Record First Quarter 2021 Results

M GP Ingredients, Inc. (NASDAQ:MGPI) is a producer and supplier of distilled spirits and specialty wheat, proteins, and starches.

Is This Small Cap Stock Still a Buy?

ATCHISON, Kan., April 15, 2021 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading supplier of premium distilled spirits and specialty wheat proteins and starches, today announced that it will hold a conference call/webcast to discuss results for the first quarter ended March 31, 2021, on Wednesday, May 5, at 10 a.m. ET. The company expects to release its financial results before the market opens that morning.

MGP Ingredients Schedules First Quarter 2021 Conference Call/Webcast for Wednesday, May 5

ST. LOUIS, April 12, 2021 /PRNewswire/ -- As the weather warms up, Vita Frute Vodka Soda is providing cool adult refreshment with its new original mix 12-pack featuring the latest Vita Frute flavor, Blood Orange. Blood Orange, with its citrusy, refreshing tang, also will be available in a 4-pack.

Vita Frute introduces original mix 12-pack and new Blood Orange flavor for the spring

Combined company materially increases MGP's scale in the branded-spirits sector and establishes an additional platform for future growth Combined company materially increases MGP's scale in the branded-spirits sector and establishes an additional platform for future growth

MGP Ingredients Completes Acquisition of Luxco

Largest US supplier of premium rye whiskey and distilled gin.Premium spirits market is expected to grow by 10% annually through 2027.

MGP Ingredients: A Hidden Gem

MGP Ingredients, Inc. (MGPI) CEO Dave Colo on Q4 2020 Results - Earnings Call Transcript

Full year consolidated sales increased 9.0% from prior year period Full year operating income increased 14.8%; Adjusted operating income up 20.9%

MGP Ingredients Reports Strong Fourth Quarter and Full Year 2020 Results

Kavanagh brings three decades of experience in European markets Kavanagh brings three decades of experience in European markets

MGP Bolsters International Spirits Sales Team with Tony Kavanagh Hiring

ATCHISON, Kan., Feb. 11, 2021 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading supplier of premium distilled spirits and specialty wheat proteins and starches, today announced that it will hold a conference call/webcast to discuss results for the fourth quarter and full year ended December 31, 2020, on Thursday, February 25, at 10 a.m. ET. The company expects to release its financial results before the market opens that morning.

MGP Ingredients Schedules Fourth Quarter and Full Year 2020 Conference Call/Webcast for Thursday, February 25

ATCHISON, Kan., Feb. 4, 2021 /PRNewswire/ -- MGP (Nasdaq: MGPI), has partnered with RNDC in Colorado to support the continued growth of their proprietary spirits brands: TILL American Wheat Vodka, George Remus Straight Bourbon Whiskey, Remus Repeal Reserve Straight Bourbon Whiskey,...

MGP Partners with RNDC as Exclusive Distributor in Colorado

ATCHISON, Kan., Feb. 2, 2021 /PRNewswire/ -- MGP (Nasdaq: MGPI), has partnered with Standard Beverage in Kansas to support the continued growth of their proprietary spirits brands. Based in Atchison, Kansas, MGP is proud to produce TILL American Wheat Vodka at their Kansas distillery, in...

MGP Partners with Standard Beverage in Kansas

Deal represents an enterprise value of $475 million comprised of equal parts cash and stock Deal represents an enterprise value of $475 million comprised of equal parts cash and stock

MGP Ingredients, Inc. Announces Definitive Merger Agreement with Luxco

Matt Greeno to lead Masters team, support product development Matt Greeno to lead Masters team, support product development

MGP Names First Lead Master Distiller

LAWRENCEBURG, Ind., Jan. 13, 2021 /PRNewswire/ -- MGP (Nasdaq: MGPI) has launched the New Year with the release of their 2021 Rossville Union Single Barrel Program. Known as the "Masters of Rye," MGP is the largest distiller of Rye Whiskey in the United States and has expanded this year's...

MGP Launches 2021 Rossville Union® Rye Single Barrel Program

ATCHISON, Kan., Dec. 17, 2020 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI) has hired Tanya Jeradechachai as a vice president of Ingredient Solutions R&D. Her experience in grain science and managing product development from concept to commercialization supports MGP's role helping customers succeed with fast-paced new product development.

Tanya Jeradechachai Joins MGP as a Vice President of Ingredient Solutions R&D

Rigorous audit applied to all MGP facilities Rigorous audit applied to all MGP facilities

MGP Again Earns Highest BRCGS Audit Score for Food and Beverage Safety

MGP Ingredients, Inc. (MGPI) CEO Dave Colo on Q3 2020 Results - Earnings Call Transcript

News for MGP Ingredients Stock (MGPI)