secwatch.observer — SEC 8-K summary
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Issuer:     MGP INGREDIENTS INC (MGPI)
CIK:        0000835011
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001628280-23-015449
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/835011/000162828023015449/0001628280-23-015449-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/835011/000162828023015449/mgpi-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-015449

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