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, 2022 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 ...

MGP Ingredients, Inc. (NASDAQ:MGPI) Q4 2021 Earnings Conference Call February 24, 2022 10:00 AM ET Company Participants Mike Houston - Investor Relations Dave Colo - President and Chief Executive Officer Brandon Gall - Vice President, Finance and Chief Financial Officer Conference Call Participants Vivien Azer - Cowen Bill Chappell - Truist Securities Ben Klieve - Lake Street Capital Mitch Pinheiro - Sturdivant Operator Good day and welcome to the MGP Ingredients Fourth Quarter and Full Year 2021 Financial ...

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, 2021 OR Atchison, Kansas 66002 (Address of Principal Executive Offices) (Zip Code) (913) 367-1480 Registrant's telephone number, including area code ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SE ...

MGP Ingredients, Inc. (NASDAQ:MGPI) Q3 2021 Earnings Conference Call November 3, 2021 10:00 AM ET Company Participants Mike Houston - Investor Relations Dave Colo - President and Chief Executive Officer Brandon Gall - Vice President of Finance and Chief Financial Officer Conference Call Participants Mitch Pinheiro - Sturdivant Bill Chappell - Truist Securities Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are ...

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 September 30, 2021 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 specifie ...

MGP Ingredients, Inc. (NASDAQ:MGPI) Q2 2021 Earnings Conference Call August 4, 2021 10:00 AM ET Company Participants Mike Houston - Investor Relations Dave Colo - President and Chief Executive Officer Brandon Gall - Vice President of Finance and Chief Financial Officer Conference Call Participants Mitch Pinheiro - Sturdivant Alex Fuhrman - Craig-Hallum Operator Good morning and welcome to the MGP Ingredients Second Quarter 2021 Financial Results Conference Call. All participants will be in a listen-only mod ...

Financial Performance - Sales for the quarter ended June 30, 2021, were $174,939, an increase of 89.0% compared to the same quarter in 2020, driven by growth in the Branded Spirits, Distillery Products, and Ingredient Solutions segments[111]. - Gross profit for the quarter ended June 30, 2021, was $56,827, reflecting a 174.5% increase year-over-year, with significant contributions from all segments[113]. - Operating income for the quarter ended June 30, 2021, increased to $27,663, up 144.0% from $11,338 in the same quarter of 2020[116]. - Net income for the quarter ended June 30, 2021, was $20,059, representing a 136.3% increase compared to $8,490 in the prior year[111]. - Year-to-date sales ended June 30, 2021, were $283,262, an increase of 47.8% compared to the same period in 2020, driven by strong performance across all segments[121]. - Year-to-date gross profit for the period ended June 30, 2021, was $89,126, a 103.0% increase year-over-year, with notable growth in the Distillery Products segment[123]. - Operating income for the year-to-date period ended June 30, 2021, was $48,163, a 92.3% increase from $25,046 in the same period of 2020[125]. Segment Performance - Total sales of Distillery Products for the quarter ended June 30, 2021, increased by $15,543, or 20.8%, compared to the prior year quarter[135]. - Gross profit for the Distillery Products segment increased by $16,131, or 101.7%, with gross margin rising to 35.4% from 21.2% year over year[136]. - Total sales of Branded Spirits for the quarter ended June 30, 2021, increased by $60,042, or 15,635.9%, compared to the prior year quarter[144]. - Gross profit for Branded Spirits increased by $18,286, or 12,355.4%, although gross margin decreased to 30.5% from 38.5% due to purchase accounting adjustments related to the Merger[145]. - Year-to-date sales of Distillery Products increased by $24,653, or 16.0%, compared to the year-ago period[140]. - Year-to-date gross profit for Distillery Products increased by $26,317, or 77.6%, with gross margin improving to 33.7% from 22.0%[141]. - Total branded spirits sales for the year to date ended June 30, 2021, increased by $60,124, or 6,895% compared to the prior year[149]. - Gross profit for the year to date ended June 30, 2021, increased by $18,182, or 5,379%, while gross margin decreased to 30.4% from 38.8%[150]. - Ingredient Solutions sales for the quarter ended June 30, 2021, increased by $6,794, or 39.1%, driven by higher sales of specialty wheat starches and proteins[154]. - Total Ingredient Solutions sales for the year to date ended June 30, 2021, increased by $6,843, or 18.8%, compared to the prior year[158]. - Gross profit for Ingredient Solutions increased by $1,708, or 36.3%, for the quarter ended June 30, 2021[155]. - The increase in gross profit was primarily driven by higher sales volumes of specialty wheat starches and proteins, partially offset by higher input costs[159]. Expenses and Taxation - SG&A expenses for the quarter ended June 30, 2021, were $29,164, an increase of 211.4% compared to the prior year, primarily due to the acquisition of Luxco's expenses[114]. - The effective tax rate for the quarter ended June 30, 2021, was 24.2%, compared to 23.1% in the same quarter of 2020[111]. - Income tax expense for the year to date ended June 30, 2021, was $11,027, with an effective tax rate of 23.7%, compared to $5,774 and 24.0% for the same period in 2020[128]. - Earnings per share (EPS) increased to $1.81 for the year to date ended June 30, 2021, a 69.1% increase from $1.07 in the prior year[129][130]. Cash Flow and Capital Expenditures - Cash provided by operating activities for the year to date ended June 30, 2021, was $47,454, an increase of $41,468 compared to the prior year[163]. - Cash used in investing activities for the year to date ended June 30, 2021, was $170,235, primarily due to the Merger of Luxco[166]. - Capital expenditures for the year to date ended June 30, 2021, were $18,336, with expectations of approximately $51,500 in capital expenditures for 2021[168]. - Cash provided by financing activities for the year to date ended June 30, 2021, was $138,359, primarily due to net proceeds from debt[169]. - Cash provided from financing activities for the year to date ended June 30, 2020, was $14,857, primarily due to net proceeds from debt of $24,501[170]. Debt and Shareholder Returns - Total debt was $270,391 at June 30, 2021, compared to $39,871 at December 31, 2020[177]. - The Company repurchased approximately 159,104 shares of common stock for $4,053 during the year to date ended June 30, 2020[173]. - The Board of Directors declared a quarterly dividend of $0.12 per share, payable on September 3, 2021, totaling $2,052[176]. - The Company completed a merger with Luxco on April 1, 2021, with an aggregate consideration of $237,500 in cash and 5,007,833 shares of common stock[181]. - The Company has $20,947 remaining under the share repurchase plan as of June 30, 2021[172]. Liquidity and Market Conditions - At June 30, 2021, current assets exceeded current liabilities by $270,203, largely due to inventories of $232,292[180]. - A 100 basis point increase in market interest rates would increase annual interest expense by $2,401 based on variable-rate borrowings[185]. - The cash balance at June 30, 2021, was $37,243, with $168,000 remaining for additional borrowings under the Credit Agreement[180]. - The Company anticipates sufficient cash flows to support short-term liquidity and operating needs following the merger[181].

MGP Ingredient, Inc. (NASDAQ:MGPI) Q1 2021 Earnings Conference Call May 5, 2021 10:00 AM ET Company Participants Mike Houston - Investor Relations Dave Colo - President and Chief Executive Officer Brandon Gall - Vice President of Finance and Chief Financial Officer Conference Call Participants Alex Fuhrman - Craig-Hallum Bill Chappell - Truist Securities Operator Good day and welcome to the MGP Ingredients First Quarter 2021 Financial Results Conference Call. [Operator Instructions] Please note this event i ...

PART I. FINANCIAL INFORMATION [Condensed Consolidated Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The unaudited statements show significant profitability growth driven by higher sales and detail the definitive agreement to acquire Luxco, Inc Condensed Consolidated Statements of Income (Q1 2021 vs Q1 2020) (in thousands, except per share data) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Sales | $108,323 | $99,082 | | Gross Profit | $32,299 | $23,211 | | Operating Income | $20,500 | $13,708 | | Net Income | $15,427 | $9,842 | | Basic and Diluted EPS | $0.90 | $0.57 | Condensed Consolidated Balance Sheets (As of March 31, 2021) (in thousands) | Metric | March 31, 2021 | December 31, 2020 | | :--- | :--- | :--- | | Total Current Assets | $229,548 | $222,283 | | Total Assets | $381,102 | $366,575 | | Total Current Liabilities | $55,003 | $53,329 | | Total Liabilities | $102,591 | $104,049 | | Total Stockholders' Equity | $278,511 | $262,526 | Condensed Consolidated Statements of Cash Flows (Q1 2021 vs Q1 2020) (in thousands) | Metric | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | Net cash provided by operating activities | $16,990 | $542 | | Net cash used in investing activities | ($13,340) | ($8,189) | | Net cash (used in) provided by financing activities | ($2,726) | $46,997 | | Increase in cash and cash equivalents | $924 | $39,350 | - On January 22, 2021, the Company entered into a definitive agreement to acquire Luxco, Inc for **$237.5 million in cash** and **5,007,833 shares** of common stock, with the merger completed on April 1, 2021[44](index=44&type=chunk)[45](index=45&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Consolidated sales rose 9.3% and operating income grew 49.6%, driven by strong performance in the Distillery Products segment - The acquisition of Luxco, Inc was completed on April 1, 2021, for aggregate consideration of **$237.5 million in cash** and approximately **5 million shares** of common stock, expected to significantly increase MGP's scale in the branded-spirits sector[84](index=84&type=chunk) Consolidated Results Summary (Q1 2021 vs Q1 2020) (in thousands) | Metric | Q1 2021 | Q1 2020 | % Change | | :--- | :--- | :--- | :--- | | Sales | $108,323 | $99,082 | 9.3% | | Gross Profit | $32,299 | $23,211 | 39.2% | | Operating Income | $20,500 | $13,708 | 49.6% | | Net Income | $15,427 | $9,842 | 56.7% | - Distillery Products segment sales **increased 11.5% YoY**, driven by a **49.3% increase in brown goods sales**, with segment gross profit growing **55.2%** to $28.3 million[101](index=101&type=chunk)[103](index=103&type=chunk)[104](index=104&type=chunk) - Ingredient Solutions segment sales were flat, but gross profit **decreased by 20.0%** to $4.0 million due to a temporary production shutdown caused by extreme weather[106](index=106&type=chunk)[109](index=109&type=chunk) - Cash provided by operating activities **increased significantly to $17.0 million** in Q1 2021 from $0.5 million in Q1 2020, primarily due to higher net income and favorable changes in working capital[112](index=112&type=chunk)[113](index=113&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company is exposed to commodity price and interest rate risks, managed through supply contracts and fixed-rate debt - The company is exposed to market price volatility for key input costs, including grain, wheat flour, and natural gas, and uses supply contracts for future delivery to manage this risk[131](index=131&type=chunk) - A hypothetical **100 basis point increase** in market interest rates would have **no impact** on the company's variable-rate interest expense but would decrease the fair value of its outstanding fixed-rate debt by **$1,543 thousand**[133](index=133&type=chunk) [Controls and Procedures](index=27&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal controls during the quarter - Management, including the CEO and CFO, concluded that the company's **disclosure controls and procedures were effective** as of the end of the quarter[135](index=135&type=chunk) - No changes in internal controls over financial reporting occurred during the quarter that have **materially affected, or are reasonably likely to materially affect**, these controls[136](index=136&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company faces lawsuits related to aged whiskey sales forecasts and is managing the aftermath of a facility fire and a ransomware attack - The company is defending against consolidated putative class action and derivative lawsuits alleging **false and misleading statements** regarding forecasts for aged whiskey sales[66](index=66&type=chunk)[67](index=67&type=chunk) - The company is managing the aftermath of a November 2020 feed dryer fire and a May 2020 ransomware cyber-attack, with **insurance expected to cover a portion of the losses**[64](index=64&type=chunk)[65](index=65&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) Key risks include operational interruptions, acquisition integration, commodity price volatility, the COVID-19 pandemic, and cybersecurity threats - Operational risks include interruptions at facilities, such as the November 2020 dryer fire, and catastrophic events that could damage **significant inventory of aged whiskeys**[140](index=140&type=chunk)[141](index=141&type=chunk)[143](index=143&type=chunk) - The company faces risks from the **successful integration of acquisitions**, such as the recent Luxco acquisition, including achieving synergies, retaining key personnel, and managing increased debt[169](index=169&type=chunk)[171](index=171&type=chunk) - Profitability is significantly affected by **volatile input costs** like grain, wheat flour, agave, and natural gas, which may not be fully recoverable through price increases[145](index=145&type=chunk)[146](index=146&type=chunk) - The ongoing COVID-19 pandemic poses risks of **operational disruption, supply chain interruptions, and reduced consumer demand**[174](index=174&type=chunk) - Cybersecurity threats, such as the ransomware attack experienced in May 2020, pose a **significant risk to IT systems, data confidentiality, and business operations**[162](index=162&type=chunk)[164](index=164&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=39&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) No unregistered equity sales occurred, and share repurchases were limited to covering taxes on vested RSUs - There were **no unregistered sales of equity securities** in Q1 2021[206](index=206&type=chunk) Issuer Purchases of Equity Securities (Q1 2021) (dollar values in thousands) | Period | Total Shares Purchased | Average Price Paid per Share | Publicly Announced Program Purchases | Remaining Authorization Value | | :--- | :--- | :--- | :--- | :--- | | Jan 2021 | 12 | $49.07 | $0 | $20,947,113 | | Feb 2021 | 1,635 | $67.16 | $0 | $20,947,113 | | Mar 2021 | 8,729 | $64.58 | $0 | $20,947,113 | | **Total** | **10,376** | | **$0** | | - All shares purchased were vested RSUs withheld to cover employee withholding taxes, **not open market repurchases** under the publicly announced plan[208](index=208&type=chunk) [Defaults Upon Senior Securities](index=39&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[210](index=210&type=chunk) [Mine Safety Disclosures](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[211](index=211&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information) The company reported no other information for this item - None[212](index=212&type=chunk) [Exhibits](index=40&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including agreements related to the Luxco acquisition and credit facilities - Key exhibits filed include the **merger agreement for the Luxco acquisition**, related shareholder and registration rights agreements, and amendments to credit facilities[214](index=214&type=chunk)

MGP Ingredients, Inc. (NASDAQ:MGPI) Q4 2020 Earnings Conference Call February 25, 2021 10:00 AM ET Company Participants Mike Houston - Investor Relations Dave Colo - President and Chief Executive Officer Brandon Gall - Vice President, Finance and Chief Financial Officer Conference Call Participants Bill Chappell - Truist Securities Alex Fuhrman - Craig-Hallum Operator Good morning and welcome to the MGP Ingredients Fourth Quarter and Full Year 2020 Financial Results Conference Call. [Operator Instructions] ...