---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-044421"
form_type: "8-K"
ticker: "MGPI"
cik: "0000835011"
company_name: "MGP INGREDIENTS INC"
filed_at: "2024-10-31T23:59:59+00:00"
generated_at: "2026-05-30T07:51:17.453382+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MGP Ingredients Q3 sales down 24%; adjusted EPS $1.29 vs $1.36; plans to cut whiskey production, reaffirms guidance

## Summary
- Consolidated sales $161.5M, down 24% YoY; excluding Atchison distillery, down 14%.
- Net income $23.9M (+82%); adjusted net income $28.8M (-5%); adjusted EPS $1.29 vs $1.36.
- Distilling Solutions sales down 36% to $71.9M; Branded Spirits sales down 6% but gross profit up 12%.
- Ingredient Solutions sales down 18% to $26.9M; gross profit margin fell to 17.6% from 33.8%.
- Plans to lower net aging whiskey put away and scale down production in 2025; reaffirms FY2024 sales guidance $695-705M and adjusted EBITDA $196-200M.

## SEC filing metadata
- accession: 0001628280-24-044421
- form_type: 8-K
- ticker: MGPI
- cik: 0000835011
- company_name: MGP INGREDIENTS INC
- filed_at: 2024-10-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/835011/000162828024044421/0001628280-24-044421-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/835011/000162828024044421/mgpi-20241031.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-044421
- JSON: https://secwatch.observer/filing/0001628280-24-044421.json
- Plain text: https://secwatch.observer/filing/0001628280-24-044421.txt

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