MGP Ingredients Q4 2023 sales up 13%; adj. diluted EPS $1.64 vs $1.01; FY2024 guide

MGP INGREDIENTS INC

2023-FY EPS reported $4.80 revenue$836,523,000

Q4 sales $214.9M (+13%), gross profit $85.1M (+35%), adjusted diluted EPS $1.64 vs $1.01 YoY.
Full year sales $836.5M (+7%), adjusted EBITDA $202.5M (+20%), adjusted diluted EPS $5.88 vs $4.92.
Branded Spirits premium plus sales grew 50% in Q4, 24% FY; Distilling Solutions brown goods sales +39% Q4, +26% FY.
FY2024 guidance: sales $742M-$756M; adj. EBITDA $218M-$222M; adj. EPS $6.12-$6.23.
Atchison distillery closure in Dec 2023 resulted in $19.4M FY impairment; Q4 one-time items $4.0M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MGP INGREDIENTS INC updated its the fourth quarter and full year ended December 31, 2023 guidance (initiated).

Period: the fourth quarter and full year ended December 31, 2023
Guidance: initiated
Result: reported results

Exact text from the filing

On February 22, 2024, MGP Ingredients, Inc. (the “Company”) issued a Press Release relating to financial results for the fourth quarter and full year 2023, which ended December 31, 2023. A copy of the press release is being furnished as Exhibit 99.1 and is incorporated herein by reference.

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Source: SEC EDGAR

accession 0001628280-24-006147

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