MGP Ingredients Q3 sales miss estimates, reaffirms guidance

MGP Ingredients

28/10/2026 11:38

Overview
US spirits and food ingredient maker's Q3 sales fell 10% yr/yr, missing analyst expectations
Adjusted EPS for Q3 beat analyst expectations
Company to change name to Sempreon, Inc. and ticker to CASK on Nov. 2

Outlook
Company reaffirms 2026 sales guidance at $480 mln to $500 mln
Company expects 2026 adjusted EBITDA of $90 mln to $98 mln
Company sees 2026 adjusted basic EPS between $1.50 and $1.80

Result Drivers
LOWER BROWN GOODS & PRIVATE LABEL SALES - Co said Q3 sales fell mainly due to lower brown goods sales in Distilling Solutions and reduced international private label bottled product sales in Branded Spirits
HIGHER INPUT COSTS - Higher waste starch stream costs in Ingredient Solutions and increased costs in Branded Spirits weighed on margins
SELECTIVE BRAND GROWTH - Penelope Bourbon sales rose 12% and mid-priced spirits grew 6%, while Ingredient Solutions sales increased 5%

Company press release: ID:nBw92TDSRa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Miss
$117.91 mln
$119.70 mln (5 Analysts)
Q3 Adjusted EPS
Beat
$0.39
$0.32 (5 Analysts)
Q3 Net Income
 
$6.90 mln
 
Q3 Adjusted EBITDA
 
$21.50 mln
 
Q3 Operating Income
 
$12 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 $30.00, about 95.8% above its October 27 closing price of $15.32
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Oct 28 - Remy Cointreau beats Q2 sales forecasts, shares slip as recovery doubts linger
Oct 27 - India's Radico Khaitan quarterly profit jumps on premium spirits demand
Oct 28 - France's Remy Cointreau H1 sales rise, helped by Cognac growth in Asia

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.)