MGP Ingredients Q2 sales down 15% to $124.4M; adjusted EPS $0.72 vs $0.97; reaffirms FY guidance

MGP INGREDIENTS INC

Consolidated sales $124.4M (-15% YoY); gross margin 37.4% vs 40.1%; net income $12.0M vs $14.4M.
Adjusted basic EPS $0.72 vs $0.97; adjusted EBITDA $27.6M (-23%).
Distilling Solutions sales fell 42% to $29.2M on 59% decline in brown goods; Ingredient Solutions sales up 2% but gross margin halved to 10.1%.
Branded Spirits sales down 1% to $59.6M; premium plus up 5% led by Penelope Bourbon (+13%) and Yellowstone.
Reaffirmed FY2026 guidance: sales $480-500M, adj. EBITDA $90-98M, adj. EPS $1.50-1.80; declared $0.12 quarterly dividend.

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