MGP Ingredients Inc reports results for the quarter ended in September 30 - Earnings Summary

MGP Ingredients

01/11/2024 03:42

* MGP Ingredients Inc  MGPI.OQ  reported quarterly adjusted
earnings of $1.29​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of 58 cents.  The mean expectation of six analysts
for the quarter was for earnings of $1.25 per share. Wall Street
expected results to range from $1.12  to $1.29 per share.
    * Revenue fell 23.7% to $161.46 million from a year ago;
analysts
expected $161.55 million. 
    * MGP Ingredients Inc's reported EPS for the quarter was
$1.07​.
    * The company reported quarterly net income of $23.65
million.
    * MGP Ingredients Inc shares had fallen by 32.4% this
quarter and
lost 42.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 15.2%
in the last three months.​ 
    * In the last 30 days, six analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 1
"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 $77.50 
This summary was machine generated from LSEG data November 1 at
03:41 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
 Sep. 30 2024      1.25           1.29           Beat
 Jun. 30 2024      1.54           1.71           Beat
 Mar. 31 2024      0.98           1.07           Beat
 Dec. 31 2023      1.36           1.49           Beat