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.

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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.

Enhanced barrel programs for Remus Bourbon and Rossville Rye showcase the depth and breadth of the distillery's collection of high-rye bourbon and rye whiskey ST. LOUIS , May 29, 2024 /PRNewswire/ -- The historic Lawrenceburg, Indiana-based Ross & Squibb Distillery announced enhancements to its Remus Straight Bourbon Whiskey and Rossville Union Straight Rye Whiskey Single Barrel programs for 2024.

Ross & Squibb Distillery enhances barrel program for 2024 with custom selection kits and guided in-person and virtual tasting options

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ATCHISON, Kan. , May 20, 2024 /PRNewswire/ -- MGP Ingredients, Inc., (Nasdaq: MGPI), a leading provider of branded and distilled spirits as well as food ingredient solutions, is pleased to announce the hiring of Amit Sharma as its Vice President of Investor Relations.

MGP Hires Vice President of Investor Relations

Industry veteran Paul Lux joins company to continue execution of strategy for the segment Industry veteran Paul Lux joins company to continue execution of strategy for the segment

MGP Names New Distilling Solutions Vice President

MGP Ingredients, Inc. (NASDAQ:MGPI ) Q1 2024 Results Conference Call May 2, 2024 10:00 AM ET Company Participants Mike Houston - Lambert Global, IR David Bratcher - President & CEO Brandon Gall - VP, Finance & CFO Conference Call Participants Gerald Pascarelli - Belport Securities Marc Torrente - Wells Fargo Sean McGowan - ROTH MKM Bill Chappel - Truist Securities Ben Klieve - Lake Street Capital Markets Mitchell Pinheiro - Sturdivant & Co Robert Moskow - Cowen Operator Good day, and welcome to the MGP Ingredients First Quarter 2024 Financial Results Conference Call. [Operator's Instructions] I would now like to turn the conference over to Mike Houston.

MGP Ingredients, Inc. (MGPI) Q1 2024 Earnings Call Transcript

MGP (MGPI) came out with quarterly earnings of $1.07 per share, beating the Zacks Consensus Estimate of $1 per share. This compares to earnings of $1.39 per share a year ago.

MGP (MGPI) Surpasses Q1 Earnings and Revenue Estimates

ATCHISON, Kan., May 02, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of branded and distilled spirits as well as food ingredient solutions, today reported results for the first quarter ended March 31, 2024.

MGP Ingredients Reports First Quarter 2024 Results

In honor of the double-digit age milestone, the latest offering is double finished in Cabernet Franc and Merlot casks ST. LOUIS , April 23, 2024 /PRNewswire/ -- Lux Row Master Distiller and Master Blender John Rempe marks a decade of distinction – and secrecy – as he renews his annual pact with bourbon drinkers by releasing Blood Oath Pact 10 Kentucky Straight Bourbon Whiskey double finished in Cabernet Franc and Merlot casks.

Lux Row Distillers' Blood Oath Pact 10 Kentucky Straight Bourbon Whiskey arrives at retail in April

ATCHISON, Kan., April 18, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading provider of branded and distilled spirits, as well as food ingredient solutions, today announced that it will hold a conference call/webcast to discuss results for the first quarter ended March 31, 2024, on Thursday, May 2, at 10 a.m. ET. The company expects to release its financial results before the market opens that morning.

MGP Ingredients Schedules First Quarter 2024 Conference Call/Webcast for Thursday, May 2

Award-winning brand extends its portfolio with unique new variant ST. LOUIS , April 9, 2024 /PRNewswire/ -- Lux Row Distillers announced the latest addition to the Ezra Brooks brand family: Ezra Brooks 99 Port Wine Cask Finish.

Lux Row Distillers Introduces Ezra Brooks 99 Port Wine Cask Finish

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ATCHISON, Kan., Feb. 29, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, today announced that its board of directors has approved the repurchase of up to $100.0 million of the Company's outstanding shares of common stock.

MGP Ingredients Announces $100 Million Share Repurchase Program

MGP Ingredients, Inc. (MGPI) Q4 2023 Earnings Call Transcript

ATCHISON, Kan., Feb. 22, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq:MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, today reported results for the fourth quarter and full year ended December 31, 2023.

MGP Ingredients Reports Strong Fourth Quarter and Full Year 2023 Results

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Investors interested in Food - Miscellaneous stocks are likely familiar with MGP (MGPI) and Mondelez (MDLZ). But which of these two stocks presents investors with the better value opportunity right now?

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MGP (MGPI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

MGP (MGPI) Reports Next Week: Wall Street Expects Earnings Growth

ATCHISON, Kan., Feb. 08, 2024 (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 fourth quarter and full year ended December 31, 2023, on Thursday, February 22, 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 2023 Conference Call/Webcast for Thursday, February 22

MGP Ingredients has shown strong revenue growth and expanding margins over the last four years. In 3Q23, all of its business segments have shown year-over-year improvement, contributing to consolidated revenue growth. Management plans to shift away from white goods, coupled with the benefit of the extension of the EU tax tariff, are anticipated to bolster profitability and the growth outlook.

MGP Ingredients: Tax Tariff Extension And Move Away From White Goods

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ST. LOUIS , Jan. 16, 2024 /PRNewswire/ -- Lawrenceburg, Indiana-based Ross & Squibb Distillery, in partnership with NFL legend Chris Long and his Foundation's Waterboys initiative, announced the completion of their combined efforts to bring a lasting source of clean, safe water to a community of 1,600 people in arid southern Kenya. In summer 2023, a deep borehole well was dug in the Oloile community in Kajiado County, Kenya, by The Chris Long Foundation's Kenya implementing partner, Well Aware, to a depth of 80 meters, yielding 100,000 liters of water per day.

ROSS & SQUIBB DISTILLERY COMPLETES FIRST PROJECT WITH THE CHRIS LONG FOUNDATION'S WATERBOYS INITIATIVE TO COMBAT WATER SCARCITY IN KENYA

Rebel Bourbon to Sponsor Richard Childress Racing and Driver Kyle Busch in the NASCAR Cup Series WELCOME, N.C. , Jan. 9, 2024 /PRNewswire/ -- Bardstown, Kentucky-based Rebel® Bourbon has signed a sponsorship agreement with Richard Childress Racing to become an official sponsor, positioning the award-winning bourbon as the official bourbon of Richard Childress Racing, the No.

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ATCHISON, Kan., Jan. 08, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading supplier of distilled spirits, branded spirits and food ingredient solutions, is pleased to announce the promotion of Amel Pasagic to the newly created position of Chief Commercial Officer, effective today. As Chief Commercial Officer, Pasagic will be responsible for all commercial activities across MGP's three business segments.

MGP Promotes Amel Pasagic to Chief Commercial Officer

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ATCHISON, Kan., Dec. 11, 2023 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, announced today that David Bratcher was elected as a Group B member of the Board of Directors of MGP Ingredients, effective January 1, 2024, by the Company's preferred stockholders at a special meeting of stockholders.

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