MGP Ingredients Q3 sales up 14% to $201.2M; raises FY2022 guidance

MGP INGREDIENTS INC

2022-Q3 EPS reported $3.91 revenue$591,363,000

Q3 sales $201.2M (+14% YoY); net income $23.6M vs $23.7M; diluted EPS $1.06 vs $1.08.
Distilling Solutions sales record $108.6M (+19%); brown goods sales +34% YoY.
Branded Spirits sales record $62.8M (+2%); gross margin expanded to 39.9%.
Ingredient Solutions sales record $29.7M (+24%) driven by plant-based food demand.
FY2022 guidance raised: sales $765-780M, adj. EBITDA $162-167M, adj. EPS $4.62-4.80.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.98

MGP INGREDIENTS INC reported third quarter ended September 30, 2022 results: revenue $201.2 million, net income $23.6 million, EPS $1.06 per share. Guidance raised.

Period: third quarter ended September 30, 2022
Revenue: $201.2 million
Net income: $23.6 million
EPS: $1.06 per share
Guidance: raised
Result: reported results

Exact text from the filing

solutions, today reported results for the third quarter ended September 30, 2022. 2022 third quarter consolidated results compared to 2021 third quarter • Sales increased 14% to $201.2 million, as a result of record third quarter sales across all three business segments. • Gross profit increased 3% to $59.1 million, representing 29.4% of sales. • Operating income

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Source: SEC EDGAR

accession 0001628280-22-027971

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