MGP (MGPI) Q3 Earnings and Revenues Beat Estimates

Core Insights - MGP (MGPI) reported quarterly earnings of $0.85 per share, exceeding the Zacks Consensus Estimate of $0.62 per share, but down from $1.29 per share a year ago [1] - The earnings surprise was +37.10%, following a previous quarter where the company had a surprise of +51.56% [2] - MGP's revenues for the quarter were $130.91 million, surpassing the Zacks Consensus Estimate by 2.42%, but down from $161.46 million year-over-year [3] Earnings Performance - MGP has consistently surpassed consensus EPS estimates over the last four quarters [2] - The company has also topped consensus revenue estimates four times in the last four quarters [3] Stock Performance - MGP shares have declined approximately 39.9% year-to-date, contrasting with the S&P 500's gain of 17.2% [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market [7] Future Outlook - Current consensus EPS estimate for the upcoming quarter is $0.63 on revenues of $139.56 million, and for the current fiscal year, it is $2.60 on revenues of $534.54 million [8] - The outlook for the Beverages - Alcohol industry is currently in the bottom 16% of Zacks industries, which may impact MGP's stock performance [9] Industry Context - Molson Coors Brewing (TAP), another company in the same industry, is expected to report quarterly earnings of $1.72 per share, reflecting a year-over-year decline of 4.4% [10] - Molson Coors Brewing's anticipated revenues are $3.02 billion, down 0.6% from the previous year [11]