Brief: MGP Ingredients Reports First Quarter 2020 Results

MGP Ingredients

30/04/2020 12:46

April 30 (Reuters) - MGP Ingredients Inc  MGPI.O :
    * MGP INGREDIENTS REPORTS FIRST QUARTER 2020 RESULTS
    * Q1 NON-GAAP EARNINGS PER SHARE $0.61 EXCLUDING ITEMS
    * Q1 EARNINGS PER SHARE $0.57
    * Q1 SALES $99.1 MILLION VERSUS REFINITIV IBES ESTIMATE OF
$87.7
MILLION
    * Q1 EARNINGS PER SHARE ESTIMATE $0.36 -- REFINITIV IBES
DATA
    * WITHDRAWING OUR PREVIOUS 2020 GUIDANCE
    * ELECTED TO CURTAIL STOCK REPURCHASES TO PRESERVE CAPITAL
WHILE
MANAGEMENT ASSESSES POTENTIAL IMPACTS OF COVID-19 PANDEMIC
    * ACQUISITION OF NEW COLUMBIA DISTILLERS, BASED IN
WASHINGTON,
D.C., DURING QUARTER

Source text for Eikon:  ID:nGNX5L8kjk 
Further company coverage:  MGPI.O 

 ((Reuters.Briefs@thomsonreuters.com;))