8-K
filed August 3, 2023, 7:59 PM ET
ticker MGPI
CIK 0000835011
earnings
confidence high
sentiment positive
materiality 0.75
MGP Ingredients reports record Q2 sales $209M, net income up 26%; raises FY2023 guidance
MGP INGREDIENTS INC
2023-Q2 EPS reported
$2.83
revenue$410,011,000
- Q2 sales $209.0M (+7% YoY); net income $32.0M (+26%); diluted EPS $1.44 vs $1.15.
- Distilling Solutions sales $116.9M (+9%); brown goods sales up 30% driving growth.
- Branded Spirits sales $57.6M (-2%) but premium plus brands grew 29% to $23.8M.
- Ingredient Solutions segment record sales $34.5M (+18%); gross margin expanded.
- FY2023 guidance raised: sales $815-835M, adj. EBITDA $187-192M, adj. EPS $5.35-5.50.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
MGP INGREDIENTS INC reported second quarter ended June 30, 2023 results: EPS $1.44 per share.
- Period
- second quarter ended June 30, 2023
- EPS
- $1.44 per share
- Result
- reported results
Exact text from the filing
Consolidated sales increased 7% to a quarterly record of $209.0 million; Net income and adjusted EBITDA increased 26% and 28%, respectively
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.95
MGP INGREDIENTS INC reported second quarter ended June 30, 2023 results: EPS $1.44 per share.
- Period
- second quarter ended June 30, 2023
- EPS
- $1.44 per share
- Result
- reported results
Exact text from the filing
Basic and diluted earnings per common share (“EPS”) increased to $1.44 per share from $1.15 per share.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
MGP INGREDIENTS INC reported fiscal 2023 results: revenue $815 million to $835 million, EPS $5.35 to $5.50. Guidance raised.
- Period
- fiscal 2023
- Revenue
- $815 million to $835 million
- EPS
- $5.35 to $5.50
- Guidance
- raised
- Result
- guidance update
Exact text from the filing
MGP is offering the following revised 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 $187 million to $192 million. • Adjusted basic EPS is forecasted to be in the $5.35 to $5.50 range, with basic weighted average shares outstanding expected to be approximately 22.1 million at year end.
View on SEC.gov
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