---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-015449"
form_type: "8-K"
ticker: "MGPI"
cik: "0000835011"
company_name: "MGP INGREDIENTS INC"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:45:57.214015+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# MGP Ingredients Q1 sales up 3% to $201M; net income down 17% to $31M; reaffirms FY guidance

## Summary
- Diluted EPS fell to $1.39 from $1.69 YoY; adjusted EBITDA down 15% to $47.1M.
- Distilling Solutions segment sales up 2% but gross margin fell to 29.2% from 34.9%.
- Ingredient Solutions sales up 10% to $30.9M; gross profit rose to 39.5% margin.
- Brown goods sales grew 10% to record levels; distribution realigned with RNDC.
- FY2023 guidance reaffirmed: sales $815-835M, adjusted EBITDA $178-183M, adj. EPS $5.05-5.20.

## SEC filing metadata
- accession: 0001628280-23-015449
- form_type: 8-K
- ticker: MGPI
- cik: 0000835011
- company_name: MGP INGREDIENTS INC
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/835011/000162828023015449/0001628280-23-015449-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/835011/000162828023015449/mgpi-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-015449
- JSON: https://secwatch.observer/filing/0001628280-23-015449.json
- Plain text: https://secwatch.observer/filing/0001628280-23-015449.txt

## Key facts
- Earnings Releases
  MGP INGREDIENTS INC reported first quarter ended March 31, 2023 results: revenue $201.0 million, net income $31.0 million, EPS $1.39 per share. Guidance reaffirmed.
  - Period: first quarter ended March 31, 2023
  - Revenue: $201.0 million
  - Net income: $31.0 million
  - EPS: $1.39 per share
  - Guidance: reaffirmed
  - Result: reported results
  source text: solutions, today reported results for the first quarter ended March 31, 2023. 2023 first quarter consolidated results compared to 2022 first quarter • Sales increased 3% to $201.0 million. • Gross profit decreased 3% to $69.8 million, representing 34.7% of sales. • Operating income decreased 17% to $41.6 million. • Net income decreased 17% to $31.0 million. •
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023015449/0001628280-23-015449-index.htm

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