---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-027005"
form_type: "8-K"
ticker: "MGPI"
cik: "0000835011"
company_name: "MGP INGREDIENTS INC"
filed_at: "2023-08-03T23:59:59+00:00"
generated_at: "2026-06-12T10:25:25.782850+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MGP Ingredients reports record Q2 sales $209M, net income up 26%; raises FY2023 guidance

## Summary
- 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.

## SEC filing metadata
- accession: 0001628280-23-027005
- form_type: 8-K
- ticker: MGPI
- cik: 0000835011
- company_name: MGP INGREDIENTS INC
- filed_at: 2023-08-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/835011/000162828023027005/0001628280-23-027005-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/835011/000162828023027005/mgpi-20230803.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-027005
- JSON: https://secwatch.observer/filing/0001628280-23-027005.json
- Plain text: https://secwatch.observer/filing/0001628280-23-027005.txt

## Key facts
- Earnings Releases
  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
  source text: Consolidated sales increased 7% to a quarterly record of $209.0 million; Net income and adjusted EBITDA increased 26% and 28%, respectively
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023027005/0001628280-23-027005-index.htm
- Earnings Releases
  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
  source text: Basic and diluted earnings per common share (“EPS”) increased to $1.44 per share from $1.15 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023027005/0001628280-23-027005-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023027005/0001628280-23-027005-index.htm

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