Q1 sales up 80.2% to $195.2M; EPS $1.69 vs $0.90

MGP INGREDIENTS INC

2022-Q1 EPS reported $1.69 revenue$195,235,000

Sales $195.2M (+80.2% YoY); operating income $50.1M (+144.3%).
Net income $37.4M (+142.2%); diluted EPS $1.69 vs $0.90.
Distilling Solutions sales $111.5M (+25.8%); Branded Spirits $55.8M (Luxco acquisition).
Ingredient Solutions sales $28.0M (+46.2%); gross margin improved to 29.0% from 20.7%.
FY2022 guidance confirmed: sales $690-715M, adj. EBITDA $150-157M, adj. EPS $4.15-4.35.

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