MGP Ingredients Q1 adjusted EPS beats estimates

MGP Ingredients

29/04/2026 12:39

Overview

US spirits and ingredient maker's Q1 sales fell 13% but slightly beat analyst expectations

Adjusted EPS for Q1 beat analyst expectations despite a 58% yr/yr decline

Company posted large net loss due to non-cash impairment charges in Branded Spirits segment

Outlook

MGP Ingredients reaffirms 2026 sales guidance of $480 mln to $500 mln

Company expects 2026 adjusted EBITDA of $90 mln to $98 mln

MGP Ingredients projects 2026 adjusted basic EPS of $1.50 to $1.80

Result Drivers

DISTILLING SOLUTIONS WEAKNESS - Lower demand for aged and new distillate whiskey drove a 56% decline in brown goods sales, pressuring overall revenue and profitability

BRANDED SPIRITS MIX - Premium plus portfolio, led by Penelope Bourbon, grew, but overall Branded Spirits sales fell 8% as declines in private label and value offerings offset gains

INGREDIENT SOLUTIONS GROWTH - Ingredient Solutions segment sales rose 29%, driven by higher volumes and improved price/mix of specialty wheat proteins and starches

Company press release: ID:nBw7dtGKXa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Slight Beat*
$106.40 mln
$105.45 mln (5 Analysts)
Q1 Adjusted EPS
Beat
$0.15
$0.04 (5 Analysts)
Q1 Net Income
-$134.80 mln
Q1 Adjusted EBITDA
$15 mln
Q1 Operating Income
-$173.20 mln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the distillers & wineries peer group is "buy"

Wall Street's median 12-month price target for MGP Ingredients Inc is $31.00, about 53.4% above its April 28 closing price of $20.21

The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)