---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-036200"
form_type: "8-K"
ticker: "MGPI"
cik: "0000835011"
company_name: "MGP INGREDIENTS INC"
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T01:23:28.987235+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# MGP Ingredients Q3 sales up 5% to $211.6M; CEO Colo to retire, Bratcher named successor

## Summary
- Q3 sales $211.6M (+5% YoY); gross profit $73.4M (+24%); adjusted diluted EPS $1.34 vs $1.06 YoY.
- Full-year guidance raised: sales $815-835M, adjusted EBITDA $192-197M, adjusted basic EPS $5.50-5.65.
- CEO David Colo to retire Dec 31, 2023; David Bratcher (COO) becomes CEO and President Jan 1, 2024.
- Bratcher's base salary $625k, target STI 100%, LTI 170% of base; Colo to advise through April 2024.
- Impairment/one-time costs of $18.3M from planned Atchison closure; contingent consideration $4.2M.

## SEC filing metadata
- accession: 0001628280-23-036200
- form_type: 8-K
- ticker: MGPI
- cik: 0000835011
- company_name: MGP INGREDIENTS INC
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/835011/000162828023036200/0001628280-23-036200-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/835011/000162828023036200/mgpi-20231029.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-036200
- JSON: https://secwatch.observer/filing/0001628280-23-036200.json
- Plain text: https://secwatch.observer/filing/0001628280-23-036200.txt

## Key facts
- Earnings Releases
  MGP INGREDIENTS INC reported the third quarter ended September 30, 2023 results: revenue $211.6 million, net income $13.1 million, EPS $0.59 per share. Guidance raised.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $211.6 million
  - Net income: $13.1 million
  - EPS: $0.59 per share
  - Guidance: raised
  - Result: reported results
  source text: solutions, today reported results for the third quarter ended September 30, 2023. 2023 third quarter consolidated results compared to 2022 third quarter: • Sales increased 5% to $211.6 million. • Gross profit increased 24% to $73.4 million, representing 34.7% of sales. • Operating income decreased 41% to $19.8 million and net income decreased 45% to $13.1 million,
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023036200/0001628280-23-036200-index.htm
- Executive change
  David S. Bratcher was elected as Director at MGP INGREDIENTS INC.
  - Action: elected
  - Role: Director
  source text: The Company will seek to have Mr. Bratcher elected as a Class B director of the Company effective January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/835011/000162828023036200/0001628280-23-036200-index.htm

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