secwatch.observer — SEC 8-K summary
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Issuer:     MGP INGREDIENTS INC (MGPI)
CIK:        0000835011
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001628280-24-019788
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGP Ingredients Q1 net income down 34% to $20.6M; reaffirms FY2024 guidance
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- Sales decreased 15% to $170.6M; gross profit down 10% to $62.8M.
- Diluted EPS of $0.92 (adjusted $1.07) vs $1.39 prior year.
- Branded Spirits premium plus portfolio grew 12% YoY; Ingredient Solutions record sales up 15%.
- Distilling Solutions sales -25% to $84.9M; ex-Atchison distillery closure up 2%.
- FY2024 guidance reaffirmed: sales $742-756M, adj. EBITDA $218-222M, adj. EPS $6.12-6.23.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/835011/000162828024019788/0001628280-24-019788-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/835011/000162828024019788/mgpi-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-019788

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer