UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 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. (Exact name of registrant as specified in ...

Q1 results in line with expectations; Reiterates annual guidance MGP INGREDIENTS REPORTS FIRST QUARTER 2024 RESULTS ATCHISON, Kan., May 2, 2024 - MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of branded and distilled spirits as well as food ingredient solutions, today reported results for the first quarter ended March 31, 2024. 2024 first quarter consolidated results compared to 2023 first quarter: "Given our previously communicated outlook for the first quarter of the year, we are pleased with t ...

In honor of the double-digit age milestone, the latest offering is double finished in Cabernet Franc and Merlot casksST. LOUIS, April 23, 2024 /PRNewswire/ -- Lux Row Master Distiller and Master Blender John Rempe marks a decade of distinction – and secrecy – as he renews his annual pact with bourbon drinkers by releasing Blood Oath Pact 10 Kentucky Straight Bourbon Whiskey double finished in Cabernet Franc and Merlot casks. A limited supply of 17,000 (3-in) cases will arrive at retail this month at a sugge ...

ATCHISON, Kan., April 18, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (NASDAQ:MGPI), a leading provider of branded and distilled spirits, as well as food ingredient solutions, today announced that it will hold a conference call/webcast to discuss results for the first quarter ended March 31, 2024, on Thursday, May 2, at 10 a.m. ET. The company expects to release its financial results before the market opens that morning. Management on the call will include David Bratcher, CEO and President, and Brandon G ...

MGP Ingredients, Inc. (NASDAQ:MGPI) Q4 2023 Earnings Conference Call February 22, 2024 10:00 AM ET Company Participants Mike Houston - Lambert Global, IR David Bratcher - President & CEO Brandon Gall - VP, Finance & CFO Conference Call Participants Bill Chappell - Truist Securities Marc Torrente - Wells Fargo Gerald Pascarelli - Wedbush Ben Klieve - Lake Street Capital Markets Seamus Cassidy - TD Cowen Mitchell Pinheiro - Sturdivant Sean McGowan - ROTH MKM Operator Good morning, and welcome to the MGP Ingre ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 (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, 2023 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. (Exact N ...

MGP INGREDIENTS REPORTS STRONG FOURTH QUARTER AND FULL YEAR 2023 RESULTS Record full year gross profit increased 20% from prior year period ATCHISON, Kan., February 22, 2024 - MGP Ingredients, Inc. (Nasdaq:MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, today reported results for the fourth quarter and full year ended December 31, 2023. 2023 fourth quarter consolidated results compared to 2022 fourth quarter 2023 full year consolidated results compared to 2022 ...

MGP Ingredients, Inc. (NASDAQ:MGPI) Q3 2023 Earnings Conference Call November 2, 2023 10:00 AM ET Company Participants Mike Houston - Lambert Global, Investor Relations Dave Colo - President and CEO Brandon Gall - Vice President, Finance and CFO Conference Call Participants Marc Torrente - Wells Fargo Gerald Pascarelli - Wedbush Bill Chappell - Truist Securities Vivien Azer - TD Cowen Operator Good morning. And welcome to the MGP Ingredients Third Quarter 2023 Financial Results Conference Call. All particip ...

Financial Performance - Sales for the quarter ended September 30, 2023, were $211,624, an increase of 5% compared to the same quarter in 2022[103]. - Gross profit for the quarter ended September 30, 2023, was $73,448, a 24% increase year-over-year[105]. - Operating income for the quarter ended September 30, 2023, decreased to $19,839, a decline of 41% compared to the prior year[108]. - Net income for the quarter ended September 30, 2023, was $13,088, representing a 45% decrease from $23,628 in the same quarter of 2022[103]. - For the year to date ended September 30, 2023, sales were $621,635, a 5% increase compared to the same period in 2022[114]. - Gross profit for the year to date ended September 30, 2023, was $219,567, a 16% increase year-over-year[116]. - Operating income for the year to date ended September 30, 2023 decreased to $105,541 from $119,250 for the same period in 2022, a decline of 11 percent[119]. - Basic EPS for the year to date ended September 30, 2023 was $3.43, down 12 percent from $3.91 for the same period in 2022[122]. Expenses - Advertising and promotion expenses for the quarter ended September 30, 2023, were $9,505, an increase of 31% year-over-year[106]. - SG&A expenses for the quarter ended September 30, 2023, were $21,570, a 20% increase compared to the same quarter in 2022[107]. - Advertising and promotion expenses for the year to date ended September 30, 2023 were $25,877, an increase of 37 percent compared to the year-ago period[117]. - SG&A expenses for the year to date ended September 30, 2023 were $65,615, an increase of 26 percent compared to the year-ago period, primarily due to higher personnel and acquisition expenses related to Penelope[118]. Segment Performance - Total sales of the Distilling Solutions segment for the quarter ended September 30, 2023 increased by $3,209, or 3 percent, compared to the prior year quarter[128]. - Gross profit for the Distilling Solutions segment increased by $7,363, or 28 percent, for the quarter ended September 30, 2023[129]. - Total sales of the Distilling Solutions segment for the year to date ended September 30, 2023 increased by $14,650, or 4 percent compared to the year-ago period[134]. - Gross profit for the year to date ended September 30, 2023 increased by $10,356, or 11 percent compared to the year-ago period[135]. - Total sales of the Branded Spirits segment for the quarter ended September 30, 2023 increased by $4,058, or 6 percent compared to the prior year quarter[139]. - Gross profit for the quarter ended September 30, 2023 increased by $3,973, or 16 percent, with gross margin rising to 43.5 percent from 39.9 percent[140]. - Year-to-date sales of Branded Spirits for the period ended September 30, 2023 increased by $4,240, or 2 percent compared to the year-ago period[147]. - Year-to-date gross profit for Branded Spirits increased by $8,827, or 12 percent, with gross margin rising to 43.9 percent from 40.0 percent[148]. - Year-to-date sales of the Ingredient Solutions segment increased by $11,382, or 13 percent, reflecting an increase across all product categories[161]. - Year-to-date gross profit for Ingredient Solutions increased by $10,291, or 42 percent, with gross margin rising to 35.5 percent from 28.3 percent[162]. - Total sales of the Ingredient Solutions segment for the quarter ended September 30, 2023 increased by $3,211, or 11 percent, driven by higher sales across all product categories[153]. - Gross profit for the Ingredient Solutions segment increased by $3,064, or 38 percent, with gross margin rising to 33.8 percent from 27.1 percent[154]. - Sales in the ultra premium price tier for Branded Spirits increased by $6,303, or 46 percent, while sales in the mid price tier decreased by $3,184, or 15 percent[139]. - The increase in sales of brands within the ultra premium price tier was primarily due to an increase in sales of American whiskey brands, including those acquired from Penelope[139]. Asset and Cash Flow - The company recorded a $17,112 impairment of assets related to the planned closure of the Atchison Distillery[100]. - Operating cash flow for the year to date ended September 30, 2023 was $48,605, a decrease of $23,648 compared to $72,253 for the same period in 2022[166]. - Cash used in investing activities increased significantly to $146,690 for the year to date ended September 30, 2023, primarily due to the acquisition of Penelope for $103,712[169]. - Cash provided by financing activities for the year to date ended September 30, 2023 was $78,193, driven by net proceeds on debt of $87,000[171]. - Total debt as of September 30, 2023 was $316,677, an increase from $230,335 at December 31, 2022[177]. - Cash and cash equivalents decreased by $19,859 for the year to date ended September 30, 2023, compared to an increase of $29,106 for the same period in 2022, resulting in a net decrease of $48,965[166]. - The company anticipates being able to support short-term liquidity and operating needs largely through cash generated from operations[180]. Tax and Interest - Income tax expense for the year to date ended September 30, 2023 was $24,832, with an effective tax rate of 24.6 percent[121]. - The change in fair value of contingent consideration related to the Penelope acquisition was $4,200, impacting operating income negatively[119]. - A 100 basis point increase in market interest rates would increase annual interest expense on variable-rate debt by $980[184]. Dividends and Capital Expenditures - The company declared a dividend of $0.12 per share, payable on December 1, 2023, totaling $8,006 for the year to date ended September 30, 2023[175][176]. - The company expects approximately $63,000 in capital expenditures for 2023, including facility improvements and the planned closure of the Atchison Distillery[170]. Current Assets and Liabilities - Current assets exceeded current liabilities by $413,808 as of September 30, 2023, largely due to inventories valued at $342,401[180].

MGP Ingredients, Inc. (NASDAQ:MGPI) Q2 2023 Results Conference Call August 3, 2023 10:00 AM ET Company Participants Mike Houston - Investor Relations Dave Colo - President & Chief Executive Officer Brandon Gall - Vice President-Finance & Chief Financial Officer Conference Call Participants Gerald Pascarelli - Wedbush Vivien Azer - Cowen & Company Sean McGowan - ROTH MKM Marc Torrente - Wells Fargo Bill Chappell - Truist Securities Mitch Pinheiro - Sturdivant Operator Good morning, and welcome to the MGP Ing ...