The 11th annual secret offering from Lux Row Distillers is finished in Añejo tequila barrelsST. LOUIS, March 25, 2025 /PRNewswire/ -- Lux Row Distillers Master Distiller and Master Blender John Rempe renews his annual pact with bourbon drinkers by releasing Blood Oath Pact 11 Kentucky Straight Bourbon Whiskey Finished in Añejo Tequila Barrels. This year's secret blend features a union of two well-bred bourbons – a 14-year ryed and a 10-year wheated – blended with an impressive 7-year ryed which was finished ...

Six-year-aged bourbon features bold proof to deliver intense yet balanced flavorST. LOUIS, March 13, 2025 /PRNewswire/ -- Lebanon, Kentucky-based Yellowstone Bourbon announced the release of Small Batch 107, a new permanent addition to the Yellowstone family. The elevated expression pays homage to the brand's history while featuring several firsts for the family lineup. Small Batch is aged six years and the only variety in the Yellowstone portfolio to feature an age statement on packaging. Lebanon, Kent ...

Core Insights - Remus Bourbon has launched the Master Distiller Experimental Series, marking a new annual limited-edition series that emphasizes innovation in bourbon craftsmanship [1][2] - The first release, Master Distiller Experimental Series No. 1, was inspired by a barrel experiment from 2015 and showcases unique flavor profiles [1][3] Product Details - Master Distiller Experimental Series No. 1 has been aged for nine years in specially treated barrels, featuring a 107-proof bourbon with tasting notes of cedar, port wine, fig, oak, toasted marshmallow, chocolate, candied pecans, black walnut, and leather [4] - The suggested retail price for this limited edition bourbon is $79.99, and it will be available in select states including AZ, CA, CT, KS, MA, MD, MO, NY, OH, TX, UT, WA, and WI [5] Company Background - Remus Bourbon is produced by Ross & Squibb Distillery, located in Lawrenceburg, Indiana, known for its high-rye bourbons and rich distilling heritage [6] - The brand is named after the "King of the Bootleggers" and aims to appeal to both seasoned whiskey connoisseurs and newcomers [7] - Luxco, the parent company of Ross & Squibb, is a significant player in the beverage alcohol industry, having merged with MGP Ingredients, Inc. in 2021 [8]

Financial Data and Key Metrics Changes - Consolidated sales for Q4 2024 decreased by 16% to $180.8 million compared to the prior year period, and excluding the impact of the Atchison Distillery, sales decreased by 7% [10][38] - Adjusted EBITDA decreased by 9% to $53.1 million, with lower SG&A expenses partially offsetting reduced gross profits [11][43] - Basic earnings per common share declined to a loss of $1.91 due to a one-time noncash adjustment to goodwill, while adjusted basic earnings per share decreased 4% to $1.57 [11][45] - Full year 2024 capital expenditures were approximately $73 million, expected to decline to about $36 million in 2025 [35][46] Business Line Data and Key Metrics Changes - Distilling Solutions segment reported sales declined by 25%, with a 10% decline in Brown Goods sales partially offset by a 15% increase in warehouse service sales [38] - Branded Spirits segment sales decreased by 12% due to continued declines in value price brands and a 12% decline in premium plus sales [39] - Ingredient Solutions sales increased by 4%, with specialty protein sales posting its first quarterly growth [39][40] Market Data and Key Metrics Changes - Annual whiskey production in the US increased by nearly 1 million barrels since 2020, reaching nearly 4.6 million barrels, but consumption has normalized from post-COVID levels, leading to excess inventory [21][22] - Industry data shows total US whiskey production through October 2024 is down 1%, with a 4% decline in the last six months [25][26] Company Strategy and Development Direction - The company aims to maintain its position as a leading supplier of high-quality differentiated premium American whiskey while navigating challenges in the Brown Goods business [8][9] - The focus is on enhancing branded spirits and ingredient solutions businesses, which are expected to drive consolidated financial performance in 2025 and beyond [10][30] - The company is committed to optimizing its distillery cost structure and strengthening key customer relationships to mitigate the impact of lower production volumes [27][28] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenging operating environment due to elevated industry-wide barrel whiskey inventories and soft whiskey consumption [9][21] - The company expects ongoing challenges in the distilling solutions business to overshadow growth in branded spirits and ingredient solutions in 2025 [30] - Management remains confident in the long-term value of aged whiskey inventory and the potential for recovery in the distilling solutions segment [60][80] Other Important Information - The company recorded a $73.8 million non-cash adjustment to the carrying value of goodwill in the branded spirits segment due to unfavorable macroeconomic factors [44] - The net whiskey put away declined from $51.1 million in 2023 to $32.9 million in 2024, contributing to a 22% increase in full-year cash flow from operations [46] Q&A Session Summary Question: Strategy for aged whiskey going forward - Management confirmed that while aged sales are expected to decline, they remain committed to the aged business and are proactively engaging with customers to understand their needs [56][60] Question: Confidence in distilling solutions returning to growth - Management expressed cautious optimism, noting that industry players are expected to behave more rationally over time, and they are taking steps to control costs and improve efficiency [78][80] Question: Impact of tariffs on international sales - Management indicated that current exposure to European tariffs is minimal, but they are monitoring the situation closely as tariffs are set to resume at higher rates [108] Question: Guidance visibility and contracted sales - Management stated that a large percentage of projections for the year are contracted, and they are proactively renegotiating contracts to align with market needs [89][91] Question: Cash flow projections and capital expenditures - Despite pressure on earnings, management expects strong free cash flow due to reduced capital expenditures and lower net whiskey put away [97][100]

FOURTH QUARTER AND FULL YEAR 2024 RESULTS This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements regarding the impact of whiskey consumption and whiskey inventories on brand goods performance for MGP Ingredients, Inc. (the "Company" or "MGP"); the Company's ability to access capital and drive shelf presence; and the Company's 2025 guidance, including its expectations for sales, adjusted EBIT ...

Group 1 - MGP reported revenue of $180.8 million for the quarter ended December 2024, a year-over-year decline of 15.9% and an EPS of $1.57 compared to $1.64 a year ago [1] - The reported revenue exceeded the Zacks Consensus Estimate of $178.04 million by 1.55%, and the EPS surprised by 5.37% against the consensus estimate of $1.49 [1] - MGP's stock has returned -9.7% over the past month, while the Zacks S&P 500 composite changed by -2.3%, indicating underperformance relative to the broader market [3] Group 2 - Sales to Customers in Branded Spirits were $64.01 million, below the estimated $68.11 million, reflecting an 11.9% decline year-over-year [4] - Sales to Customers in Ingredient Solutions were $34.75 million, slightly above the estimated $34.19 million, showing a year-over-year increase of 4.2% [4] - Sales to Customers in Distilling Solutions were $82.05 million, exceeding the estimated $75.68 million, but represented a significant year-over-year decline of 24.7% [4]

One-of-a-kind bourbon release takes the Rebel sponsorship of Richard Childress Racing to a new levelST. LOUIS, Feb. 26, 2025 /PRNewswire/ -- Bardstown, Kentucky-based Rebel Bourbon – the Official Bourbon of Richard Childress Racing – announced the limited-edition release of Kyle Busch 108 Single Barrel Bourbon. Every barrel was selected by two-time NASCAR Cup Series Champion Kyle "Rowdy" Busch and bottled at 108 proof (54% ABV) in honor of Rebel's sponsorship of RCR. Bardstown, Kentucky-based Rebel Bourb ...

Core Insights - MGP reported quarterly earnings of $1.57 per share, exceeding the Zacks Consensus Estimate of $1.49 per share, but down from $1.64 per share a year ago [1] - The company achieved a revenue of $180.8 million for the quarter, surpassing the Zacks Consensus Estimate by 1.55%, but down from $214.89 million year-over-year [3] Earnings Performance - The earnings surprise for the quarter was 5.37%, with the company having surpassed consensus EPS estimates in all four of the last quarters [2] - MGP's shares have declined approximately 17.2% since the beginning of the year, contrasting with a 1.3% gain in the S&P 500 [4] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.50 on revenues of $134.09 million, and for the current fiscal year, it is $3.41 on revenues of $587.27 million [8] - The estimate revisions trend for MGP is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [7] Industry Context - The Beverages - Alcohol industry, to which MGP belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, suggesting potential challenges ahead [9] - Another company in the same industry, Brown-Forman B, is expected to report a quarterly earnings decline of 21.7% year-over-year, with revenues projected at $1.07 billion, a slight increase of 0.4% from the previous year [10]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to _______ Commission file number 0-17196 MGP Ingredients, Inc. Atchison ...

Financial Performance - Consolidated sales for Q4 2024 decreased 16% to $180.8 million, with a 7% decrease excluding the Atchison distillery impact[4]. - Net income for Q4 2024 resulted in a loss of $42.0 million due to a one-time, non-cash goodwill adjustment of $73.8 million, while adjusted net income decreased 6% to $34.4 million[4][7]. - For the full year 2024, consolidated sales decreased 16% to $703.6 million, with adjusted net income down 4% to $125.3 million[9]. - The net loss for the year ended December 31, 2024, was $41,998 million, compared to a net income of $107,130 million in 2023, indicating a significant decrease in profitability[27]. - MGP Ingredients reported a net loss of $41,998,000 compared to a net income of $31,046,000 for the same quarter in 2023[37]. - For the year ended December 31, 2024, total sales were $703,625 thousand, a decrease of $1,292 thousand compared to the previous year[53]. Segment Performance - Distilling Solutions segment sales decreased 25% to $82.0 million in Q4 2024, with gross profit down 8% to $36.7 million[8]. - Branded Spirits segment sales decreased 12% to $64.0 million in Q4 2024, with gross profit down 11% to $29.6 million[11]. - Ingredient Solutions segment sales increased 4% to $34.7 million in Q4 2024, achieving a gross margin of 23.5%[13]. - Total Distilling Solutions sales decreased by 25% to $82,045,000 in Q4 2024 from $108,913,000 in Q4 2023[30]. - Year-over-year sales for Total Distilling Solutions fell by 26% to $332,204,000 in 2024 from $450,854,000 in 2023[32]. - Year-over-year Branded Spirits sales decreased by 5% to $240,816,000 in 2024 compared to $253,933,000 in 2023[32]. - Total Ingredient Solutions sales slightly decreased by 1% to $130,605,000 in 2024 from $131,736,000 in 2023[32]. Goodwill and Impairment - The company incurred a goodwill impairment of $73.755 million in 2024, which was not present in 2023, indicating a significant impact on financial results[27]. - Goodwill impairment for Q4 2024 was $73,755,000, impacting overall operating income significantly[34]. - The company experienced a goodwill impairment of $73,755,000 for the year ended December 31, 2024, which is nondeductible for income tax purposes[40]. Cash and Assets - Total current assets increased to $546.136 million in 2024 from $514.297 million in 2023, reflecting a growth of approximately 6.2%[28]. - Cash and cash equivalents rose to $25.273 million in 2024, up from $18.388 million in 2023, marking an increase of about 37.5%[28]. - MGP Ingredients' total debt as of December 31, 2024, was $323,541,000, with a net debt of $298,268,000, resulting in a net debt leverage ratio of 1.5[41]. Shareholder Actions - The company repurchased 758,576 shares for $36.6 million in Q4 2024 and 886,936 shares for $46.6 million during the full year[4][9]. Guidance and Projections - 2025 financial guidance projects sales between $520 million and $540 million, with adjusted EBITDA expected in the range of $105 million to $115 million[17]. - Adjusted EBITDA guidance for the full year 2024 is provided on a non-GAAP basis, but specific figures are not disclosed due to uncertainty in predicting certain GAAP items[25]. Tax and Expenses - The effective tax rate for Q4 2024 was (31.5)%, primarily due to the goodwill adjustment, with an adjusted rate of 24.0%[16]. - The effective tax rate, excluding the impacts of the nondeductible goodwill impairment, was 24.0% for the quarter ended December 31, 2024[40]. - The company’s advertising and promotion expenses for the year increased to $40.508 million in 2024 from $38.213 million in 2023, reflecting a rise of approximately 6.0%[27]. Operational Losses - The company reported an operating loss of $30.442 million for the fourth quarter of 2024, compared to an operating income of $43.072 million in the same quarter of 2023[27]. - Operating income for Q4 2024 was a loss of $30,442,000, a decrease of 171% compared to an operating income of $43,072,000 in Q4 2023[34].