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

MGP Ingredients

02/05/2024 14:32

* MGP Ingredients Inc  MGPI.OQ  reported quarterly adjusted
earnings of 92 cents​​ per share for the quarter ended in March,
lower than the same quarter last year, when the company reported
EPS of $1.39.  The mean expectation of seven analysts for the
quarter was for earnings of 98 cents per share. Wall Street
expected results to range from 89 cents to $1.03 per share.
    * Revenue fell 15.1% to $170.56 million from a year ago;
analysts
expected $170.31 million. 
    * MGP Ingredients Inc's reported EPS for the quarter was 92
cents​.
    * The company reported quarterly net income of $20.4
million.
    * MGP Ingredients Inc shares had fallen by 9.1% this
quarter and
lost 20.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 34.6%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

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 $119.00 
This summary was machine generated from LSEG data May 2 at 01:32
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
 Mar. 31 2024      0.98           0.92           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