MGP Ingredients Inc reports results for the quarter ended in December - Earnings Summary

MGP Ingredients

23/02/2024 03:04

* MGP Ingredients Inc  MGPI.OQ  reported quarterly adjusted
earnings of $1.49​​ per share for the quarter ended in December,
higher than the same quarter last year, when the company
reported EPS of $1.01.  The mean expectation of seven analysts
for the quarter was for earnings of $1.36 per share. Wall Street
expected results to range from $1.30  to $1.44 per share.
    * Revenue rose 12.5% to $214.89 million from a year ago;
analysts
expected $205.39 million. 
    * MGP Ingredients Inc's reported EPS for the quarter was
$1.39​.
    * The company reported quarterly net income of $30.76
million.
    * MGP Ingredients Inc shares had fallen by 6.8% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the distillers &
wineries peer group is also "buy"

Wall Street's median 12-month price target for MGP Ingredients
Inc is $125.00 
This summary was machine generated from LSEG data February 23 at
03:03 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      1.36           1.49           Beat
 Sep. 30 2023      1.29           0.58           Missed
 Jun. 30 2023      1.25           1.44           Beat
 Mar. 31 2023      1.10           1.39           Beat