MGP Ingredients Q2 revenue falls 15% on lower demand for aged whiskey

MGP Ingredients

29/07/2026 12:43

Overview
U.S. spirits and food ingredient maker's Q2 revenue fell 15% yr/yr, missing analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company reaffirmed full-year 2026 guidance and declared $0.12 quarterly dividend

Outlook
MGP Ingredients projects 2026 sales between $480 mln and $500 mln
Company expects 2026 adjusted EBITDA of $90 mln to $98 mln
MGP Ingredients anticipates 2026 adjusted basic EPS in the $1.50 to $1.80 range

Result Drivers
DISTILLING SOLUTIONS DECLINE - Lower demand for aged and new distillate whiskey drove a 59% drop in brown goods sales, pressuring overall results
PREMIUM PLUS SPIRITS GROWTH - Premium plus portfolio, led by Penelope Bourbon and Yellowstone, posted sales growth, offsetting some declines
HIGHER INPUT COSTS - Ingredient Solutions profitability was pressured by higher waste starch stream costs despite sales growth

Company press release: ID:nBw7b3GbXa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
Miss
$124.4 mln
$125.16 mln (5 Analysts)
Q2 Adjusted EPS
Beat
$0.72
$0.47 (5 Analysts)
Q2 Net Income
 
$12 mln
 
Q2 Adjusted EBITDA
 
$27.60 mln
 
Q2 Operating Income
 
$17.7 mln
 

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 65.7% above its July 28 closing price of $18.71
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago

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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.)