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

MGP Ingredients

01/08/2024 14:34

* MGP Ingredients Inc  MGPI.OQ  reported quarterly adjusted
earnings of $1.43​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of $1.44.  The mean expectation of six analysts for the
quarter was for earnings of $1.54 per share. Wall Street
expected results to range from $1.44  to $1.61 per share.
    * Revenue fell 8.7% to $190.81 million from a year ago;
analysts
expected $189.06 million. 
    * MGP Ingredients Inc's reported EPS for the quarter was
breakeven
results​.
    * The company reported quarterly net income of $31.74
thousand.
    * MGP Ingredients Inc shares had risen by 9.6% this
quarter and
lost 17.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 6 "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 $112.00 
This summary was machine generated from LSEG data August 1 at
01:33 p.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
 Jun. 30 2024      1.54           1.43           Missed
 Mar. 31 2024      0.98           1.07           Beat
 Dec. 31 2023      1.36           1.49           Beat
 Sep. 30 2023      1.29           0.58           Missed