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].

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against MGP Ingredients, Inc. regarding breaches of fiduciary duties by the board of directors following a class action complaint related to significant stock price declines due to misrepresentations about inventory and sales projections [1][2][3]. Company Overview - MGP Ingredients, Inc. is a manufacturer of various hard liquors including tequila, bourbon, rye, whiskey, vodka, and gin, selling products under its own brands and to other distributors [2]. Industry Context - Sales of hard liquors surged during the COVID-19 pandemic but have since slowed as quarantines ended, leading to increased inventory levels across the alcoholic beverage industry [2]. Legal Allegations - The class action complaint alleges that during the class period from May 4, 2023, to October 30, 2024, MGPI misled investors by assuring them that it was well-prepared for the industry slowdown and that its sales projections were accurate [2]. Stock Performance Impact - Following announcements of a slowdown in demand and excess inventory, MGPI's stock price fell by 29.5% on October 17, 2024, and an additional 14.7% on October 31, 2024, resulting in a total decline of nearly 50% and significant loss in market capitalization [3].

Core Points - Yellowstone Bourbon has donated a total of $1 million to the National Parks Conservation Association (NPCA) since 2018, marking a significant milestone in their partnership [1][2][5] - The brand will continue its annual donation of over $250,000 as part of the renewed partnership with NPCA [1][2] - To celebrate this achievement, a new video series will be launched to highlight the impacts of park protection made possible by the partnership, with the first video debuting on February 20 [3][4] Company Overview - Yellowstone Bourbon was founded by Joseph Bernard Dant and is named after America's first national park, established in 1872 [7] - The brand is part of Limestone Branch Distillery, which was established by seventh-generation Master Distiller Stephen Beam in 2011 [7] - Yellowstone Bourbon has been a significant corporate donor to NPCA, supporting various campaigns to protect national parks and engage the public [5][7] Partnership Impact - The partnership has led to numerous initiatives, including a music video series featuring artists performing in national parks and direct support for flood relief efforts in Yellowstone National Park [5] - NPCA, established in 1919, has over 1.6 million members and works to safeguard national parks for future generations [6]

RADNOR, Pa., Feb. 12, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com)  informs investors that a securities class action lawsuit has been filed against MGP Ingredients, Inc. ("MGPI") (NASDAQ: MGPI) on behalf of those who purchased or otherwise acquired MGPI common stock between May 4, 2023, and October 30, 2024, inclusive (the "Class Period"). The lead plaintiff deadline is February 14, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:If you suffered MGPI losses, you may ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased common stock of MGP Ingredients, Inc. (NASDAQ: MGPI) during the specified Class Period of the upcoming lead plaintiff deadline on February 14, 2025, for a class action lawsuit [1][2]. Group 1: Class Action Details - Investors who bought MGPI common stock between May 4, 2023, and October 30, 2024, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by February 14, 2025 [2][6]. Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time and being ranked No. 1 for the number of settlements in 2017 [3]. - The firm has recovered hundreds of millions of dollars for investors, including over $438 million in 2019 alone [3]. Group 3: Case Allegations - The lawsuit alleges that defendants made materially false and misleading statements regarding MGPI's business and operations, particularly concerning demand and inventory levels in brown goods [4]. - It is claimed that defendants assured investors of a strong position compared to competitors, despite not taking necessary steps to mitigate risks associated with oversupply and consumption slowdown [4].

NEW YORK, Feb. 3, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of MGP Ingredients, Inc. (NASDAQ: MGPI).Shareholders who purchased shares of MGPI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/mgp-ingredients-inc-loss-submission-form-2/?id=126266&from=4CLASS PERIOD: May 4, 202 ...

RADNOR, Pa., Feb. 2, 2025 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com)  informs investors that a securities class action lawsuit has been filed against MGP Ingredients, Inc. ("MGPI") (NASDAQ: MGPI) on behalf of those who purchased or otherwise acquired MGPI common stock between May 4, 2023, and October 30, 2024, inclusive (the "Class Period"). The lead plaintiff deadline is February 14, 2025.CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP:     If you suffered MGPI losses, you ...

ATCHISON, Kan., Jan. 31, 2025 /PRNewswire/ -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of branded and distilled spirits and food ingredient solutions, is pleased to announce the promotion of Michael Buttshaw to President, Ingredient Solutions, effective today. In his new role, Buttshaw will lead the continued development of the Ingredient Solutions business from operational excellence to financial growth across the business unit's teams, including its research and development, manufacturing, ...

NEW YORK, Jan. 27, 2025 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of MGP Ingredients, Inc. (NASDAQ: MGPI).Shareholders who purchased shares of MGPI during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/mgp-ingredients-inc-loss-submission-form-2/?id=124869&from=4CLASS PERIOD: May 4, 20 ...

Lawsuit Overview - A securities class action lawsuit has been filed against MGP Ingredients, Inc (MGPI) on behalf of investors who purchased or acquired MGPI common stock between May 4, 2023, and October 30, 2024 [1] - The lead plaintiff deadline is February 14, 2025 [1] Allegations - Defendants are alleged to have made materially false and/or misleading statements during the Class Period [2] - Defendants failed to disclose a slowdown in consumption and oversupply in their products [2] - Defendants' positive statements about the company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis [2] Lead Plaintiff Process - MGPI investors may seek to be appointed as a lead plaintiff representative of the class no later than February 14, 2025 [3] - The lead plaintiff is typically the investor or small group of investors with the largest financial interest who are also adequate and typical of the proposed class [3] - The lead plaintiff selects counsel to represent the lead plaintiff and the class [3] Law Firm Information - Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts globally [4] - The firm has recovered billions of dollars for victims of fraud and other corporate misconduct [4] - The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP [4]