---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-004690"
form_type: "8-K"
ticker: "MGPI"
cik: "0000835011"
company_name: "MGP INGREDIENTS INC"
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T03:42:38.657886+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# MGP Ingredients reports record FY2022 sales up 25% to $782.4M; net income up 20%

## Summary
- Q4 sales $191.0M (+15% YoY); adjusted diluted EPS $1.01 vs $0.88.
- Full-year sales $782.4M (+25%); net income $108.9M (+20%); adjusted EBITDA $169.3M (+20%).
- Distilling Solutions Q4 sales +23% to $101.2M; Branded Spirits FY sales +30% to $237.9M.
- FY2023 guidance: sales $815-835M, adjusted EBITDA $178-183M, adjusted EPS $5.05-5.20.
- Premium plus brand sales grew 23% in Q4 and 56% for the full year.

## SEC filing metadata
- accession: 0001628280-23-004690
- form_type: 8-K
- ticker: MGPI
- cik: 0000835011
- company_name: MGP INGREDIENTS INC
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/835011/000162828023004690/0001628280-23-004690-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/835011/000162828023004690/mgpi-20230223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-004690
- JSON: https://secwatch.observer/filing/0001628280-23-004690.json
- Plain text: https://secwatch.observer/filing/0001628280-23-004690.txt

## Key facts
- Earnings Releases
  MGP INGREDIENTS INC reported full year 2022 results: revenue $782.4 million, net income $108.9 million, EPS Diluted EPS increased to $4.92 from $4.37 per share.
  - Period: full year 2022
  - Revenue: $782.4 million
  - Net income: $108.9 million
  - EPS: Diluted EPS increased to $4.92 from $4.37 per share
  - Result: reported results
  source text: fourth quarter. Adjusted diluted EPS increased to $1.01 per share from $0.88 per share. 2022 full year consolidated results compared to 2021 full year • Sales increased 25% to $782.4 million. • Gross profit and adjusted gross profit increased 27% and 26%, respectively, to $253.3 million, representing 32.4% of sales. • Operating income and adjusted operating income
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023004690/0001628280-23-004690-index.htm
- Earnings Releases
  MGP INGREDIENTS INC reported fiscal 2023 results: revenue $815 million to $835 million, EPS Adjusted basic earnings per common share are forecasted to be in the $5.05 to $5.20 range. Guidance initiated.
  - Period: fiscal 2023
  - Revenue: $815 million to $835 million
  - EPS: Adjusted basic earnings per common share are forecasted to be in the $5.05 to $5.20 range
  - Guidance: initiated
  - Result: guidance update
  source text: year 2022 was 22.3% compared with 25.0% in 2021. 2023 Outlook MGP is offering the following consolidated guidance for fiscal 2023: • Sales are projected to be in the range of $815 million to $835 million. • Adjusted EBITDA is expected to be in the range of $178 million to $183 million. • Adjusted basic earnings per common share are forecasted to be in the $5.05 to
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023004690/0001628280-23-004690-index.htm
- Earnings Releases
  MGP INGREDIENTS INC reported fourth quarter 2022 results: revenue $191.0 million, net income $22.5 million, EPS Diluted EPS decreased to $1.01 per share from $1.44 per share.
  - Period: fourth quarter 2022
  - Revenue: $191.0 million
  - Net income: $22.5 million
  - EPS: Diluted EPS decreased to $1.01 per share from $1.44 per share
  - Result: reported results
  source text: reported results for the fourth quarter and full year ended December 31, 2022. 2022 fourth quarter consolidated results compared to 2021 fourth quarter • Sales increased 15% to $191.0 million. • Gross profit increased 20% to $63.2 million, representing 33.1% of sales. • Operating income decreased 34% to $29.7 million due to the $16.3 million favorable insurance
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023004690/0001628280-23-004690-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.