Core Insights - MGP Ingredients, Inc. has appointed Matias Bentel as chief marketing officer and Chris Wiseman as senior vice president of operations [1] - Both executives will report to Julie Francis, the president and CEO, and will join the company's executive leadership team [1] - The company expresses excitement about the new appointments, highlighting Matias's decade of experience [1]

Financial Performance - Sales for the quarter ended September 30, 2025, were $130,912, a decrease of 19% compared to $161,461 in the same quarter of 2024[96] - Gross profit for the quarter ended September 30, 2025, was $49,433, a decrease of 25% from $65,815 in the prior year[96] - Operating income for the quarter ended September 30, 2025, decreased to $21,016, down 35% from $32,564 in the same quarter of 2024[96] - Net income for the quarter ended September 30, 2025, was $15,429, a decrease of 35% compared to $23,862 in the prior year[96] - Year-to-date sales for the period ended September 30, 2025, were $398,059, a decrease of 24% from $522,829 in the same period of 2024[107] - Year-to-date gross profit for the period ended September 30, 2025, was $151,150, a decrease of 29% compared to $211,842 in the prior year[107] - Year-to-date operating income for the period ended September 30, 2025, decreased to $40,587, down 61% from $104,868 in the same period of 2024[107] - Basic and diluted EPS decreased to $1.24 for the year to date ended September 30, 2025, down 64% from $3.43 in 2024, primarily due to a decrease in operating income[115][116] Segment Performance - Total sales of the Branded Spirits segment for the quarter ended September 30, 2025 decreased by $1,876, or 3%, primarily due to a decrease in net price/mix[120] - Gross profit for the Branded Spirits segment slightly decreased by $226, or 1%, with a gross margin increase to 53.0% from 51.8% year over year[121] - Total sales of the Distilling Solutions segment for the quarter ended September 30, 2025 decreased by $31,038, or 43%, primarily driven by lower brown goods sales[133] - Gross profit for the Distilling Solutions segment decreased by $14,444, or 50%, with a gross margin decrease to 34.7% from 39.8% year over year[134] - Total sales of Branded Spirits for the year to date ended September 30, 2025 decreased by $7,316, or 4%, due to lower sales volume and net price/mix within the value and mid price tiers[128] - Gross profit for the year to date ended September 30, 2025 decreased by $2,209, or 2%, with a gross margin increase to 51.0% from 50.1% year over year[129] - Total sales of Distilling Solutions for the year to date ended September 30, 2025 decreased by $112,335, or 45%, primarily due to lower brown goods sales[137] - Gross profit for the year to date ended September 30, 2025 decreased by $53,508, or 51%, with a gross margin decrease to 37.5% from 42.1% year over year[138] - Total sales of the Ingredient Solutions segment for the quarter increased by $2,365, or 9 percent, driven by increased sales volume of specialty wheat proteins[144] - Gross profit for the quarter decreased by $1,712, or 36 percent, with gross margin dropping to 10.3 percent from 17.6 percent[145] - Total sales of the Ingredient Solutions segment for the year to date decreased by $5,119, or 5 percent, primarily due to decreased sales volume of specialty wheat starches[149] - Gross profit for the year to date decreased by $4,975, or 28 percent, with gross margin decreasing to 14.4 percent from 18.8 percent[150] Cash Flow and Capital Expenditures - Cash provided by operating activities for the year to date was $92,449, an increase of $18,937 compared to the prior year[153] - Cash used in investing activities for the year to date was $40,688, primarily for additions to property, plant, and equipment[156] - Cash used in financing activities for the year to date was $64,286, due to net payments on debt of $52,800[158] - The company expects to incur approximately $32,500 in capital expenditures in 2025 for facility improvements and expansions[157] - The company announced a $100,000 share repurchase program approved by the Board of Directors, with approximately $53,412 remaining under the program as of September 30, 2025[162] - The company repurchased approximately 128,360 shares for approximately $10,000 during the year to date ended September 30, 2024[162] Debt and Liabilities - Total debt was $268,723 as of September 30, 2025, down from $323,541 at December 31, 2024[166] - The company had net borrowings of $52,800 for the year to date ended September 30, 2025, compared to net proceeds of $2,200 for the same period in 2024[166] - Current assets exceeded current liabilities by $326,843 as of September 30, 2025, largely due to inventories valued at $384,523[169] - The company incurred $2,712 of loan fees associated with amending and restating its credit agreement during the year to date ended September 30, 2025[166] Tax and Interest Rates - Effective tax rate for the quarter ended September 30, 2025, was 21.7%, down from 24.0% in the same quarter of 2024[103] - Income tax expense for the year to date ended September 30, 2025 was $9,255, with an effective tax rate of 25.7%, compared to $23,924 and 23.8% for the same period in 2024[114] - A 100 basis point increase in market interest rates would increase annual interest expense on variable-rate debt by $570[173] Risk Management - The company monitors commodity price and interest rate market risks as part of its overall risk management program[170]

Group 1 - The article does not provide any specific content related to a company or industry [1]

Financial Performance - Third quarter 2025 consolidated sales decreased by 19% to $130.9 million compared to the prior-year period, primarily due to declines in brown goods sales[4] - Consolidated gross profit decreased by 25% to $49.4 million, with gross margin declining by 300 basis points to 37.8%[5] - Adjusted EBITDA decreased by 29% to $32.3 million for the third quarter[5] - Net income decreased by 35% to $15.4 million, with adjusted net income down 36% to $18.5 million[5] - The company reported an adjusted non-GAAP net income of $18,516 thousand for the quarter ended September 30, 2025, compared to $23,862 thousand for the same quarter in 2024, a decrease of 22.5%[23] - For the quarter ended September 30, 2025, MGP Ingredients reported a net income of $15,429,000, compared to $23,862,000 in the same quarter of 2024, reflecting a decrease of 35%[25] - Adjusted EBITDA for the quarter was $32,255,000, down from $45,654,000 in the prior year, representing a decline of 29%[25] Segment Performance - Ingredient Solutions segment sales increased by 9% to $29.3 million, driven by higher sales of specialty and commodity wheat proteins[10] - Branded Spirits segment sales decreased by 3% to $60.7 million, while premium plus sales increased by 3%[7] - Distilling Solutions segment sales decreased by 43% to $40.9 million, with gross profit down 50% to $14.2 million[8] - Total branded spirits sales decreased by 3% to $60,748,000 in Q3 2025 from $62,624,000 in Q3 2024, with a gross margin improvement to 53.0% from 51.8%[31] - Distilling solutions sales saw a significant decline of 43%, falling to $40,881,000 from $71,919,000 year-over-year, with gross profit dropping by 50%[31] - Ingredient solutions sales increased by 9% to $29,283,000, with specialty wheat proteins growing by 15% to $8,905,000[31] - Year-to-date branded spirits sales decreased by 4% to $169,495,000 compared to $176,811,000 in the previous year[32] - Operating income for the branded spirits segment increased by 100% to $14,751,000 in Q3 2025, up from $7,391,000 in Q3 2024[31] Cash Flow and Capital Expenditures - Year-to-date operating cash flows increased by 26% to $92.5 million, reflecting strong cash generation efforts[5] - Year-to-date capital expenditures declined by 42% to $25.4 million compared to the prior-year period[5] - Net cash provided by operating activities increased to $92,449 thousand for the year to date ended September 30, 2025, compared to $73,512 thousand for the same period in 2024, reflecting a growth of 25.7%[22] - The company incurred $40,674 thousand in additions to property, plant, and equipment for the year to date ended September 30, 2025, down from $52,850 thousand in 2024, a decrease of 23.0%[22] Balance Sheet and Equity - Total assets decreased to $1,377,033 thousand as of September 30, 2025, down from $1,405,785 thousand at December 31, 2024, representing a decline of approximately 2.0%[21] - Total current liabilities rose significantly to $183,931 thousand as of September 30, 2025, compared to $92,450 thousand at December 31, 2024, marking an increase of 99.0%[21] - Net income for the year to date ended September 30, 2025, was $26,799 thousand, a decrease of 64.9% compared to $76,463 thousand for the same period in 2024[22] - Total equity increased to $853,539 thousand as of September 30, 2025, compared to $832,543 thousand at December 31, 2024, an increase of 2.5%[21] Debt and Financing - MGP Ingredients' total debt stood at $268,723,000, with cash and cash equivalents of $13,447,000 as of September 30, 2025[29] - The principal amount of the bonds outstanding is $201,250,000 for both 2025 and 2024[33] - The conversion price for the bonds is set at $96.23620 per share[33] - The number of bonds outstanding is 201,250, calculated by dividing the principal amount by the par value of $1,000[33] - The impact of conversion is zero as the average share price is below the conversion price[35] - The average share price for the quarter ended September 30, 2025, is $28.99063, while for 2024 it was $82.66859[33] - The average share price for the year to date ended September 30, 2025, is $30.67755 compared to $82.41075 for 2024[33] - The Convertible Senior Notes would only have a dilutive impact if the average market price per share exceeds the conversion price[35] - The conversion premium in shares is zero since the average share price is less than the conversion price[35] Guidance - The company updated its full-year adjusted EBITDA guidance to a range of $110 million to $115 million and adjusted EPS to $2.60 to $2.75[2]

Core Insights - The 2025 Edition of Remus Gatsby Reserve 15-Year Bourbon is launched to commemorate the 100th anniversary of "The Great Gatsby" by F. Scott Fitzgerald, featuring a cask strength of 102.8 proof (51.4% ABV) and a retail price of $199.99 per 750mL bottle [1][2][3] Product Details - The bourbon is crafted from a historic 21% rye mash bill and showcases flavors of cherry, vanilla, and oak, with a finish of toasted oak and cherry [3][4] - The packaging is inspired by Art Deco design, reflecting the 1920s aesthetic, and includes interactive elements like a QR code for a themed celebration [4] Awards and Recognition - The Remus Gatsby Reserve has received multiple prestigious awards, including platinum and double platinum medals at the ASCOT Awards and recognition as one of the "50 Greatest Bourbons" by the Robb Report [5] Company Background - Ross & Squibb Distillery, part of Luxco, is known for producing high-quality bourbon and operates several distilleries, including those in Indiana and Kentucky [7][8]

Core Insights - Bragar Eagel & Squire, P.C. is investigating potential claims against MGP Ingredients, Inc. (MGPI) on behalf of long-term stockholders due to a class action complaint filed on December 16, 2024, concerning alleged breaches of fiduciary duties by the board of directors during the class period from May 4, 2023, to October 30, 2024 [1][6]. Company Overview - MGP Ingredients, Inc. is a manufacturer of hard liquors, including tequila, bourbon, rye, whiskey, vodka, and gin, selling products under its own brands and to other distributors [6]. - Prior to the class period, sales of hard liquors surged due to COVID-19, but post-quarantine, the industry experienced a slowdown, leading to increased inventory backlogs [6]. Allegations and Impact - The complaint alleges that MGPI misled investors by assuring them that it was well-positioned to manage the industry slowdown and inventory buildup [6]. - On October 17, 2024, MGPI announced that demand had slowed and excess inventory would negatively impact sales, resulting in a 29.5% drop in stock price [6]. - Following further revelations on October 31, 2024, regarding the greater-than-expected impact of excess inventory, MGPI's stock fell an additional 14.7%, closing at $49.04 per share, leading to a total decline of nearly 50% and significant loss in market capitalization [6].

Core Viewpoint - Scott+Scott Attorneys at Law LLP is investigating potential breaches of fiduciary duties by the leadership of MGP Ingredients, Inc. to the company and its shareholders [1] Group 1 - The investigation focuses on whether members of MGP Ingredients' board of directors made or caused the company to make false and/or misleading statements [1]

Core Insights - Penelope Bourbon has partnered with FCancer to launch two limited-edition whiskey blends, aiming to raise over $500,000 for cancer support initiatives [1][2][3] - The collaboration emphasizes community involvement and aims to honor those affected by cancer while promoting awareness and support [2][3][5] Company Overview - Penelope Bourbon is recognized as one of the fastest-growing premium whiskey brands, established in 2018, and has received multiple industry awards for its products [7] - FCancer is a nonprofit organization focused on advancing health equity through cancer prevention, early detection, and support programs [7][9] Product Details - The FCancer blend will be bottled at 94 proof (47% ABV) with a suggested retail price of $79.99 per 750ml, while the FCancer Barrel Strength will be at 114.6 proof (57.3% ABV) priced at $99.99 per 750ml [5] - The FCancer blend features a complex flavor profile including aromas of black pepper, caramel, and citrus zest, while the Barrel Strength blend offers notes of sweet cream and baking spices [4][5] Fundraising Events - A live fundraising event is scheduled for October 29, 2025, in Austin, Texas, with ticket sales contributing directly to FCancer's mission [6] - The event marks the first live fundraising initiative for the partnership, reinforcing the commitment to community support and awareness [6]

Core Insights - Limestone Branch Distillery celebrates the 10th anniversary of its Yellowstone Limited Edition collection with the release of the 2025 edition, featuring a unique blend of straight bourbon whiskeys aged for 10 years [1][2][4]. Company Overview - Limestone Branch Distillery was founded by Stephen Beam in 2011 and is based in Lebanon, Kentucky, reviving the historic Yellowstone Bourbon brand [8]. - The distillery has a commitment to quality and innovation, collaborating with Ross & Squibb Distillery to create unique blends [4][6]. Product Details - The 2025 Yellowstone Limited Edition includes three unique mash bills, bottled at 105 proof (52.5% ABV), with a suggested retail price of $99.99 per 750mL bottle [5][6]. - An allocation of 10,000 cases will be available in September, coinciding with Bourbon Heritage Month [5]. - The product features aromas of vanilla, oak, and citrus, with flavors of caramel, toffee, and stone fruit, finishing with notes of charred oak, honey, cherry, and cinnamon [6]. Awards and Recognition - The 2024 Yellowstone Limited Edition received gold medals at the 2025 ASCOT Awards and the San Francisco World Spirits Competition [7]. Industry Context - Yellowstone Bourbon is part of a broader portfolio of premium spirits produced by Luxco, which has been a significant player in the beverage alcohol market since its founding in 1958 [9][10].

Core Insights - Rebel Bourbon has launched a new product, Rebel Butter Pecan Bourbon Cream, which combines their wheated bourbon with all-natural cream, bottled at 30 proof (15% ABV) [1][2][3] Product Details - Rebel Butter Pecan Bourbon Cream will be available in September in limited quantities at Lux Row Distillers in Bardstown, Kentucky, and retailers nationwide, with a suggested retail price of $19.99 for a 750mL bottle [1][2][3] - The product features a unique flavor profile with buttery notes of sweet vanilla and roasted pecans, complemented by aromas of bourbon, cocoa, and brown sugar, and a smooth finish with notes of buttery pecans and toffee [4] Packaging and Marketing - The product is packaged in a striking black bottle with a golden-brown label, designed to attract consumer attention [5] - Consumers can find Rebel Butter Pecan Bourbon Cream and other Rebel Bourbon products using a product locator, and seasonal cocktail recipes are available on social media platforms and the company website [5] Company Background - Rebel Bourbon is distilled in Bardstown, Kentucky, by Lux Row Distillers, and follows a wheated mash bill that dates back to 1849 [6] - The brand has received multiple industry awards, including Single Barrel American Whiskey of the Year for Rebel 10-Year Single Barrel at the 2025 Bartender Spirits Awards, showcasing its reputation in the spirits industry [6] Parent Company Information - Luxco, founded in 1958, is a leading producer and supplier of beverage alcohol products, operating as MGP Ingredients Inc. since its acquisition in 2021 [7] - Luxco's portfolio includes brands from four distilleries, highlighting its extensive reach in the beverage alcohol market [7]